Car Prices... what the...

Herzlos

They've been running an "Add £500" to your valuation promotion, so they've been under-valuing by about £500 first.

It's interesting though, because AC were offering me about £1500 less than WBAC, but I guess it depends on how much they want a 7 year old Skoda (which is being valued at not far off what I paid for it 3 years ago, it's totally mental).

L9XSS

sheslookinhot said:

Sold my car to Arnold Clark today. On line valuation was greater than Motorway and WBAC. After inspection offer increased by £650. Well pleased with that.

Were there any admin charges to pay? I’ve booked mine in to AC after using there online valuation tool, but no mention of Admin charges that they deduct?

sheslookinhot

L9XSS said:

sheslookinhot said:

Sold my car to Arnold Clark today. On line valuation was greater than Motorway and WBAC. After inspection offer increased by £650. Well pleased with that.

Were there any admin charges to pay? I’ve booked mine in to AC after using there online valuation tool, but no mention of Admin charges that they deduct?

No admin charges, the offer is what you get. I noted the online offer, made last Sunday, was provisional. Pleasantly surprised at the small increase. 

sheslookinhot

Herzlos said:

They've been running an "Add £500" to your valuation promotion, so they've been under-valuing by about £500 first.

It's interesting though, because AC were offering me about £1500 less than WBAC, but I guess it depends on how much they want a 7 year old Skoda (which is being valued at not far off what I paid for it 3 years ago, it's totally mental).

The offer without the “ add £500” was still a few hundred more than Motorway.

I meant to add car sold due to WFH, only 1100 miles in last 10 months, so will be a nice deposit for my Campervan purchase.

Stubod

..my WBAC offer is now at £15k!! (was £10.5k January last year)..if I could find something I wanted I would sell at that price, (even if they knocked a grand off once seen)...

motorguy

Stubod said:

..my WBAC offer is now at £15k!! (was £10.5k January last year)..if I could find something I wanted I would sell at that price, (even if they knocked a grand off once seen)...

The problem is that most cars have had the same jump.  Our main car has jumped from around £19.5K to £25.5k over the last 18 months.  I've pitched to my Mrs to punt it on and buy something with the £6K uplift but shes looking at the long term and our plan was to keep it 10+ years (and probably indefinitely).  Theres no reason either to move "up" to a new / newer car either so going to sit tight.

Grumpy_chap

motorguy said:

The problem is that most cars have had the same jump.  Our main car has jumped from around £19.5K to £25.5k over the last 18 months.  I've pitched to my Mrs to punt it on and buy something with the £6K uplift but shes looking at the long term and our plan was to keep it 10+ years (and probably indefinitely).  Theres no reason either to move "up" to a new / newer car either so going to sit tight.

I like the pitch to sell and buy something for the £6k uplift, so effectively a "free" car.

Alternatively, can you sell and get something nice brand new for the £20k or £25k?  Not sure what level of car and what needs have to be met.

Bachelorplace

Trouble is you may not get anything used at a fair price. And new will be 12 months in which case the uplift in your part ex will have maybe gone.

Crisis meetings with many retailers.

Some cannot even state a delivery and thus can’t value a car. The jokers I have had pretending to be private buyers when they are traders is pure comedy.

Some say the market is going to collapse around Feb 22, not sure how they are predicting that, but speculation is that these prices cannot last too much longer.

I too am about 5/6k over book but can’t get anything to replace it with. Whatever I get I will be over paying for.

motorguy

Aug prices up:

https://www.telegraph.co.uk/business/2021/08/29/car-production-slump-boosts-second-hand-motor-market/

Derren Martin, Cap HPI’s head of valuations, described the increases as “extraordinary”, saying the market was “on steroids, crazy”. He added: “Vehicles have increased, on average, by more than one-fifth of their value in less than half a year. In normal times, they would have depreciated by 5pc during this period, so a swing of over 25pc has occurred.”

motorguy

Grumpy_chap said:

motorguy said:

The problem is that most cars have had the same jump.  Our main car has jumped from around £19.5K to £25.5k over the last 18 months.  I've pitched to my Mrs to punt it on and buy something with the £6K uplift but shes looking at the long term and our plan was to keep it 10+ years (and probably indefinitely).  Theres no reason either to move "up" to a new / newer car either so going to sit tight.

I like the pitch to sell and buy something for the £6k uplift, so effectively a "free" car.

Alternatively, can you sell and get something nice brand new for the £20k or £25k?  Not sure what level of car and what needs have to be met.

Yes i thought that might have held water, but shes holding her ground.  Our main car is shared between us so any change needs to be unilaterally agreed.

No, any change to a new car at £25K ish would be a downgrade.  Anything "similar" currently would be around £35K and even then we'd lose out on some things compared to our current car.