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I've spotted a nice vehicle at a local dealer. It's up for £10k but a WBAC valuation came in at just over £3k.
Does this mean that the dealer is taking the piss royally or do WBAC pay peanuts?
I'm in a quandary now.
Advice appreciated.
Both, obviously.
both
as a seller - when we sold our Fiat Panda 4x4 there was about a 75% difference between what WBAC offered and what we sold it for..
Its risk transfer though as well. Sell the wbac and its gone. No hassle, no comeback.
They then make a bit and the dealer makes a bit. Both have business expenses and the dealer has to include some warranty as well.
You don't have to sell via wbac but it may be worth it for a quick transaction.
I sold my Focus via them and it all went very smoothly...
dunno if this is available online, email me the car details, reg, cond etc and I'll get my bro to check the actual value.
[nosey]What are you after Neil?[/nosey]
Sounds about right.
Dealer would sell for about 8x what WBAC want to offer me. The word desultory doesn't even cover it.
For a car to get from WBAC to its eventual owner it will pass from seller(aka Mug) to WBAC, to auction, to dealer, to customer - 3 'middle men' all assuming risk and taking a profit, the dealer might also have to spend money on it to ensure its road worthy (okay some don't bother).
So a 3k buy price can turn into an 8k sale price.
The best way to try to work out the value of a car is to look on autotrader and see what similar models are being offered at, dealers aren't stupid and know they have to be competitive, at least locally to get people in the door so the market is self-regulating to a certain extent.
My bollock! *
I entered the wrong reg into WBAC!
* so much better than my bad.
Brilliant! Not just me who does daft things then lol
I was just about to post that I thought wbac was owned by Mannheim auctions, anybody know if that's right?