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Low valuation from webuyanycar
littlerock
Posts: 1,774 Forumite
in Motoring
OH has a Peugeot Partner Crew Van (ie with rear windows) which is 8 years old. It had one previous owner and low mileage when he bought it 5 years ago. It has now done around 85,000 miles. He recently had a new clutch and tyres fitted and put it through its MOT and thought he might treat himself to a newer model. It has a full service history and a number of extras eg full air conditioning, stereo and is VGC. His garage confirmed it has no major issues.
He put it into WBAC to get an idea of its value and it came up with £530. When he looked on-line, on various sites to see how much a similar model would cost to buy, they all cost between £3-4k - for vans with higher mileages and a lower spec (eg no rear windows.) He could find nothing for sale of a similar age to his for anything remotely like the WBAC valuation, everything was much higher. And newer ones were proportionately even higher.
Why the huge mismatch between WBAC valuation and what is for sale? Any comments?
He put it into WBAC to get an idea of its value and it came up with £530. When he looked on-line, on various sites to see how much a similar model would cost to buy, they all cost between £3-4k - for vans with higher mileages and a lower spec (eg no rear windows.) He could find nothing for sale of a similar age to his for anything remotely like the WBAC valuation, everything was much higher. And newer ones were proportionately even higher.
Why the huge mismatch between WBAC valuation and what is for sale? Any comments?
0
Comments
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Basically, they don't want to buy it. Because of their name and advertising, they kinda have to make an offer on anything, so if it's something they don't want, they make an insultingly low one.
It's a bit like the absurd insurance prices you often get at the tail end of a compariosn - the best price is under £200 and the worst is £10k or more. They're saying they don't want your business without flat refusing it.0 -
As above - they dont want it, so if they're going to be forced to buy it, then they want it at a stupidly cheap price.0
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WBAC are hardly going to give you retail price for it.
They are going to just punt it on at auction (and they expect a profit, say £1000)
If a trader buys it he is going to expect to make a profit, say another £1000-£1500.
So your £3000 van is worth £500 to the first one in the chain.I want to go back to The Olden Days, when every single thing that I can think of was better.....
(except air quality and Medical Science
)0 -
WBAC are hardly going to give you retail price for it.
Did the O/P say they were expecting retail price?
They're not even giving him trade price for it, and i think thats his point - and a fair one at that.
They are going to just punt it on at auction (and they expect a profit, say £1000)
If a trader buys it he is going to expect to make a profit, say another £1000-£1500.
So your £3000 van is worth £500 to the first one in the chain.
WBAC arent working to £1,000 profit at auction on a vehicle at that price. More like £500. Likewise a trader of a good quality £3.5K retail priced van is probably going to be buying it for around £2.5K at auction
So that still leaves us with around a £1,200 "hole" in the price - which has been explained as clearly WBAC dont want it.0 -
Did the O/P say they were expecting retail price?He could find nothing for sale of a similar age to his for anything remotely like the WBAC valuation
Seemed so to me.
I want to go back to The Olden Days, when every single thing that I can think of was better.....
(except air quality and Medical Science)0 -
I had a similar experience when searching for insurance quotes this morning. Quotes ranged from £175 to over £5000. It doesn't make any sense. Just sell you car privately to get a reasonable price.I used to think that good grammar is important, but now I know that good wine is importanter.0
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We Buy any car is owned by Car Giant, wbac, is known for under valuing, it will just go to auction.
they are looking to buy cheap cars , not vans to retail, they give finance to anyone at highly inflated rates.
that is there business model.We may not win by protesting, but if we don’t protest we will lose.
If we stand up to them, there is always a chance we will win.0 -
Go to a dealer and use as a part exchange, you may get better money for it, or sell private, if you have the time.We may not win by protesting, but if we don’t protest we will lose.
If we stand up to them, there is always a chance we will win.0 -
We Buy any car is owned by Car Giant, wbac, is known for under valuing, it will just go to auction.
they are looking to buy cheap cars , not vans to retail, they give finance to anyone at highly inflated rates.
that is there business model.
Are you sure? I thought it was owned by British Car Auctions0 -
Sorry just researched it, my bad
WeBuyAnyCar owner BCA sold to Haversham Holdings for £1.2bn in 2015We may not win by protesting, but if we don’t protest we will lose.
If we stand up to them, there is always a chance we will win.0
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