[D69GMB]

Just had an updated valuation on my X3 M40d.
Just before Christmas on WBAC were offering a derisory £32k which rose to roughly £36k at the beginning of January, the latest offering is just under £41k.
That is some spread in just under 2 months.
Still waiting on a delivery date on the new car and unsure what to do regarding selling the X3. Will definitely be taking off the private reg next week in case the price rises further. Anyone got any thoughts?.

[crAbb]

Originally Posted by D69GMB

Just had an updated valuation on my X3 M40d.
Just before Christmas on WBAC were offering a derisory £32k which rose to roughly £36k at the beginning of January, the latest offering is just under £41k.
That is some spread in just under 2 months.
Still waiting on a delivery date on the new car and unsure what to do regarding selling the X3. Will definitely be taking off the private reg next week in case the price rises further. Anyone got any thoughts?.

I believe the pre Christmas period is slow for dealers, so perhaps there's less demand for stock. That's a big increase, have you thought of testing the water on Autotrader?

[E60525d]

Definitely no upturn on our G05 X5, WBAC is same as last month.

[D69GMB]

[QUOTE=crAbb;30832155]I believe the pre Christmas period is slow for dealers, so perhaps there's less demand for stock. That's a big increase, have you thought of testing the water on Autotrader?[/

My biggest issue is getting some sort of delivery date for the new car, then I can make my mind up on what direction to sell the car. Obviously I want as much as I can get for it but also want a hassle / risk free sale.

[boba-fett]

I think the market has been very slow, and nothing has been shifting, what's for sale, has been for some time. Most dealers will tell you that the car market is bouncing back, it is to a degree, but of course they are going to say that, in the meantime there is a lack of good stuff for sale as people have been keeping hold of it. Lack of good stuff means lack of stock so now WBAC are offering better prices. But its still not great, it just feels better, but only because trade in prices where so low, unless it was easy sellers that would not sit around.

[un1eash]

Both our cars took a nose drive over the last couple months. Older used cars have took a massive hit, 2015-2018 cars I were looking at have lost big since last summer. I picked up my 2015 M235i for £17,700 last summer which was cheap from an indi, you can now get a 2017 M240i AUC for that money. There was barely anything under £20k AUC before.

[JD6]

Originally Posted by D69GMB

Just had an updated valuation on my X3 M40d.
Just before Christmas on WBAC were offering a derisory £32k which rose to roughly £36k at the beginning of January, the latest offering is just under £41k.
That is some spread in just under 2 months.
Still waiting on a delivery date on the new car and unsure what to do regarding selling the X3. Will definitely be taking off the private reg next week in case the price rises further. Anyone got any thoughts?.

I think you’re right that the market looks better, but WBAC exaggerated the fall in my view.

There’s no doubt that there was a bit of a fall in used prices for the last few months of 2023. I think WBAC panicked and rather lost the plot, offering 20-30% below the market for a bit. My guess is that it takes them a few weeks between buying and then selling at auction, so they felt the pain of the drop when holding stock and someone high up told them to effectively stop buying.

They offered me 4.8k for my 8 year old Mini in December. At the same time, a dealer paid 7k and listed it at 10k. It sold within a couple of weeks - my guess would be 9-9.5k.

WBAC have marked my 840i up by about 20% in the last month, so I guess it’s panic over for them!

[kzg1969]

For comparison, my X3M has went form £34,820 at the start of Dec to £37,635 (69plate @ 27k miles)

seems like you have a VERY good offer!
(have a look on BMW AUC)

[P-ToK72]

This is interesting reading D69GMB
In November i had a chat with a BMW dealer regarding best time to change and i was told to speak with him in January.
There has been a lot of talk recently of the backside dropping out of the used car market so i started to wonder if it would be in my interest to consider changing or not.
Based on your story, i think i will look further into it and see where i stand at this moment in time.

[Wills2]

Originally Posted by JD6

I think you’re right that the market looks better, but WBAC exaggerated the fall in my view.

There’s no doubt that there was a bit of a fall in used prices for the last few months of 2023. I think WBAC panicked and rather lost the plot, offering 20-30% below the market for a bit. My guess is that it takes them a few weeks between buying and then selling at auction, so they felt the pain of the drop when holding stock and someone high up told them to effectively stop buying.

They offered me 4.8k for my 8 year old Mini in December. At the same time, a dealer paid 7k and listed it at 10k. It sold within a couple of weeks - my guess would be 9-9.5k.

WBAC have marked my 840i up by about 20% in the last month, so I guess it’s panic over for them!

My take on WBAC pricing during that period is that they didn't want the stock so just handed out silly offers that perhaps only those that had to sell in what was very illiquid market took them up on.

No one was really buying and it was a bit of Mexican stand off, I know used dealers that did and they have done very well undercutting the market and making good margin, they tell me prices and demand going back up at auction (which they don't like). One will not buy even if he needs stock as he says what's the point in having a full showroom if you can't sell it, other group buyers will buy regardless.

I don't think we ever saw the retail prices realign as many held out although there were deals to be done individually and of course EVs are good value second hand.

All things being equal I think it's better for the consumer that prices are depressed as the £ cost to change should be smaller.