Residual values starting to dip??

[Rob70]

Hi all, it may just be me, but I am regularly looking at Autotrader/We buy etc to try and gauge the current value on my 4s. I have a GTS ST on order and will be lucky to see it before the summer. Webuyanycar dropped the value of my car c£6k in the space of ten days, admittedly it is a daily driver and is currently at 12500 miles.
I can either sell now or keep until the GTS arrives....
Has anyone else seen similar dips, or am I overthinking it?

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[McgR]

I have sold my X5 in December and still waiting for my CT 4 to be delivered.

I got an offer for my X5 when taking delivery of the the Taycan in March but gat a second offer somewhere else. They offered 8k euro more but needed the car asap. Chose to do it. I was also afraid of prices going down or having an accident with the X5 and even getting less.

Now I am driving around in a Toyota Hybrid rental. Really nothing else available over here. So be prepared that if you do sell your car it might be difficult to get a decent loaner.

On the positive side: the switch to the Taycan will be great

 

[TaycanHero]

In the UK you can easily get a loaner, in days if needed.

I was living abroad for a few months up until mid Jan, and wanted a car immediately on my return to the UK, if not to train myself on UK roads again, having got very used to right-hand side driving and mountain roads.

Got it all sorted and a brand new Merc EQA delivered in less than five days, two of which were a weekend.

MyCarDirect are very good and reliable, but not the cheapest. They supplied my EQA. Prices have since increased.

I am currently using Onto, which also deliver vehicles quickly, but I am suspicious about them. They are hesitating over providing a check in report, which has yet to be sent despite chasing them. This is a company so technical you can use their app to access your car; and they have cameras installed on the vehicle.

And yet they don't have the IT infrastructure to email a PDF...

I have read customer reviews where Onto claims for things like tiny stone scratches on the alloys, which would never be considered driver-caused "damage", and their excess is £1000. I think that might be their business model where rentals are dirt cheap and you can recharge your vehicle for free.

The EV I am renting also has woeful range and far lower than that promised on the Onto website.

I wonder if the claims they make are based on how much you charge, how far you drive (the cars very likely have trackers) and the class of vehicle. They then "invent" some damages as you get neither a check in or check out report and get charged the extra, while being incapable of proving it unless you took high res photos.

I've photographed the car and can do a chargeback on my credit card, but it's more the time/convenience.

So, I will say use Onto, but after barely two weeks using them first time, caveat emptor...

Or pay the premium and use MyCarDirect, who were brilliant from start to end.

 

[Deleted member 6348]

Used values and trade ins have started to pivot across the industry. While we’re not back to normal yet, supply and availability of new cars is on its way to returning to pre-pandemic levels. We’ve most certainly plateaued.

The new car ADM and market adjustment madness in the US will eventually subside as well, but expect some dealers in certain markets to cling to that model as long as possible.

Seeing the trend lines, I decided to pre-trade my 992 to maximize the trade-in value. I wasn’t going to be around to drive it anyway. I was very happy with what I got for it and if I waited another 45-60 days, I probably wouldn’t have done as well.

 

[JC2021]

Hi all, it may just be me, but I am regularly looking at Autotrader/We buy etc to try and gauge the current value on my 4s. I have a GTS ST on order and will be lucky to see it before the summer. Webuyanycar dropped the value of my car c£6k in the space of ten days, admittedly it is a daily driver and is currently at 12500 miles.
I can either sell now or keep until the GTS arrives....
Has anyone else seen similar dips, or am I overthinking it?

I would be wary of reading too much into We Buy Any Car values. I checked mine a few months back on my other car and the value dipped when I frequently checked it. Don’t know if the algorithm is programmed that way to try to influence you to sell. When I left it alone for a few weeks it miraculously went back up (by a lot). Have you tried getting an offer through Wizzle? I haven’t but the concept looks interesting. Residuals can’t stay this high forever and may well have peaked but a £6k drop that quickly sounds a bit fishy

 

[jontybutts]

WBAC usually reduces its offers if checked regularly over a short period.

 

[kl98cwg]

WBAC usually reduces its offers if checked regularly over a short period.

My experience trying to sell a car to WBAC in mid-2020 was that they knocked off somewhere between 10% and 15% of the price they’d given me online when I turned up with the car. There was nothing wrong with the car at all - I thought it would be par for the course to knock a bit off for any small stone chip etc they could find, but no, it just seemed that they used an inflated price to get me there. They weren’t the only company to do this so I was thinking to sell privately, but I was recommended Motorway (https://motorway.co.uk/) who have a different business model. They ended up getting me more than the original price quoted by WBAC, so I used them again to sell another car six months later (when the Taycan arrived ?) and this time made substantially more than I expected - plus their customer service was excellent.
(PS. I have no connection with Motorway!)

 

[darth_maul_80]

I've been recommended by motorway by some of my clients with some getting 2K more than WBAC so will consider them too when i sell my cayenne

 

[jontybutts]

My experience trying to sell a car to WBAC in mid-2020 was that they knocked off somewhere between 10% and 15% of the price they’d given me online when I turned up with the car. There was nothing wrong with the car at all - I thought it would be par for the course to knock a bit off for any small stone chip etc they could find, but no, it just seemed that they used an inflated price to get me there. They weren’t the only company to do this so I was thinking to sell privately, but I was recommended Motorway (https://motorway.co.uk/) who have a different business model. They ended up getting me more than the original price quoted by WBAC, so I used them again to sell another car six months later (when the Taycan arrived ?) and this time made substantially more than I expected - plus their customer service was excellent.
(PS. I have no connection with Motorway!)

My experience, based on 1 car sale was they gave me the exact offer quoted, I did mark every defect and was completely honest in my description though.

 

[Bazza]

Hi all, it may just be me, but I am regularly looking at Autotrader/We buy etc to try and gauge the current value on my 4s. I have a GTS ST on order and will be lucky to see it before the summer. Webuyanycar dropped the value of my car c£6k in the space of ten days, admittedly it is a daily driver and is currently at 12500 miles.
I can either sell now or keep until the GTS arrives....
Has anyone else seen similar dips, or am I overthinking it?

I was with my dealer earlier this week for a valuation of my Cayenne e-Hybrid for PX towards my on order Taycan.
He said the shortage of chips looks like possibly getting worse which helps to keep 2nd hand values high.
WBAny Car has actually INCREASED my Cayenne’s value by £1k in the last month, but that’s poss because for my model year/variant there are only 3 for sale in UK.
When my Taycans del is imminent I’ll sell privately and ask £10k more than WBAny Car are offering, and put up with the aggro that comes with selling privately

 

[TaycanHero]

I was with my dealer earlier this week for a valuation of my Cayenne e-Hybrid for PX towards my on order Taycan.
He said the shortage of chips looks like possibly getting worse which helps to keep 2nd hand values high.
WBAny Car has actually INCREASED my Cayenne’s value by £1k in the last month, but that’s poss because for my model year/variant there are only 3 for sale in UK.
When my Taycans del is imminent I’ll sell privately and ask £10k more than WBAny Car are offering, and put up with the aggro that comes with selling privately

If your dealer talks anything about money/valuations, it's the opposite that will happen:

https://www.reuters.com/business/au...cts-chip-shortage-ease-later-2022-2022-02-16/

 

[Bazza]

If your dealer talks anything about money/valuations, it's the opposite that will happen:

https://www.reuters.com/business/au...cts-chip-shortage-ease-later-2022-2022-02-16/

Hmm I wish the crappy valuation he gave me was the opposite of what will happen when it comes to PXing it ! It was lower than anywhere else!

 

[Fish Fingers]

It's worth trying all these options when selling if you don't want a 'private sale' .
Just see who comes in highest:

WBAC / Motorway / Wizzle / Evans Halshaw

I found their prices were constantly adjusting depending on their inventory requirements.

Eventually sold my M2 via Wizzle. Really easy and probably got as much as a private sale without all the morons a private sale attracts.

 

[4MBN]

I've been recommended by motorway by some of my clients with some getting 2K more than WBAC so will consider them too when i sell my cayenne

Thanks for the heads up. I’ve just tried motorway and they are quoting £2k more than WBAC.

 

[darth_maul_80]

Thanks for the heads up. I’ve just tried motorway and they are quoting £2k more than WBAC.

I did the same and same result. My patients say that you could get more still as the dealers will bid for it

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