Who got this wrong?

[Brunswick 10]

Hi Folks,

I'm wondering where you good people would view this as a part-exchange?

2013 13 VW Golf 1.6 Tdi SE with optional heated Seats, 51k miles, two owner, mixed history but cambelt change required, clean car (£120 soft prep + service/cambelt)

Tornado Red (non metallic) with Beige cloth/door cards/half beige dash and centre console. It looks like rhubarb and custard.

Autotrader valuation £6534 without taking into account colour combo.  WBAC £7760.

Where do you guys see it?

 

 

 

 

 

 

[Tony911 79]

Autotrader not far off, i would see it at £6000 trade £7990 retail taking in needs a bit of work

[Brunswick 10]

I offered £6000 plus £400 over allowance as it was against a 66 plate Golf Tdi I want shot of with the plan of tidying it up and service etc and blowing it out at £7399 ish as there are a good selection of decent metallics at £7999 good dealers within 30 miles of me and didn't want to get stuck with it.  Any way told the customer to go to WBAC to see how if he could get more and I would give him £400 off our car.  He bought ours today, showed me he got £6840 for it...Bingo.  

Question is could WBAC turn a profit on that machine?  I feel I've been lucky on this occasion that the customer came back but if every customer puts their details into WBAC its going to be a uphill struggle.

 

[Tony911 79]

You ever been to bca auctions idiots paying over retail price by time auctioneers have pushed the price up they will probably get £10000 for it

Edited February 1, 2019 by Tony911

[Nick M.K. 574]

WBAC don’t need profit on the unit. 

if they get back what they paid and parent company BCA gets their £300ish buyers fee and they can do that several thousand times in a day it’s a great business model. 

But WBAC often makes huge profit on the metal also. The beauty of auctions I guess :-)))

[It's me 612]

23 minutes ago, Nick M.K. said:

WBAC don’t need profit on the unit. 

if they get back what they paid and parent company BCA gets their £300ish buyers fee and they can do that several thousand times in a day it’s a great business model. 

But WBAC often makes huge profit on the metal also. The beauty of auctions I guess :-)))

yep

as michael caine said in alfi

You know what? When I look back on my little life and the birds I've known, and think of all the things they've done for me and the little I've done for them, you'd think I've had the best of it along the line. But what have I got out of it? I've got a bob or two, some decent clothes, a car, I've got me health back and I ain't attached. But I ain't got me peace of mind - and if you ain't got that, you ain't got nothing. I dunno. It seems to me if they ain't got you one way they've got you another. So what's the answer? That's what I keep asking myself - what's it all about? Know what I mean?

[L-P 15]

1 hour ago, Nick M.K. said:

WBAC don’t need profit on the unit. 

if they get back what they paid and parent company BCA gets their £300ish buyers fee and they can do that several thousand times in a day it’s a great business model. 

But WBAC often makes huge profit on the metal also. The beauty of auctions I guess :-)))

£13.7m profit in the latest accounts... Not a bad model I guess.

[twerp 69]

8 hours ago, L-P said:

£13.7m profit in the latest accounts... Not a bad model I guess.

It's added a lot more than that to the value of BCA because of revenue multiples

[Stalker 180]

Plus they have at the touch of a button, the knowledge of where EXACTLY in the country that EXACT car will do the MOST money.

[Brunswick 10]

I guess its the that knowledge that makes it worth that much to them, its needs to fetch top retail wherever it ends up to be worth a punt.  I looked at it and thought I would end up running it myself in the end as it would stick like the proverbial to a blanket here.

[trade vet 697]

12 hours ago, boring dave said:

yep

as michael caine said in alfi

You know what? When I look back on my little life and the birds I've known, and think of all the things they've done for me and the little I've done for them, you'd think I've had the best of it along the line. But what have I got out of it? I've got a bob or two, some decent clothes, a car, I've got me health back and I ain't attached. But I ain't got me peace of mind - and if you ain't got that, you ain't got nothing. I dunno. It seems to me if they ain't got you one way they've got you another. So what's the answer? That's what I keep asking myself - what's it all about? Know what I mean?

Another Michael Caine quote which I think could be attributable to a lot of car dealers....Be like a duck,calm on the surface but paddling  like the dickens underneath.

[David Horgan 564]

17 hours ago, Tony911 said:

You ever been to bca auctions idiots paying over retail price by time auctioneers have pushed the price up they will probably get £10000 for it

Guy in the gym opposite us had an A5 coupe that had everything wrong with it , Headlight problems , Emissions problems , Turbo screaming its nuts off , EGR Blocked , Brakes shuddering ,EML Light on , Hand Brake working when it thought about it , Heated seats not working , Air con pump expired , and the list went on and on . I sent him to WBAC and they offered £6,200 which was CAP Clean  Then I told him to go to Evans Halshaw after , They gave him £7,100 and never even sat in it ,All Dash lights taped over from the outside of the speedo glass  

Saw it listed in Notts BCA UK Car group sale and watched it Sell at £7,400 on the hammer  online  Hall bid at £7,300 . The whole process doesn't make sense except the total numbers involved . The public using this sell my car approach are just inflating the retail pricing in the end aren't they 

Needed 1k repairs in our thinking . I don't know what they do with them when they've bought scrap like that at CAP + £1,200 + Fees with faults . 

Still Andy was happy and he bought our car off us  and gave me £200 in my hand for sorting him extra cash for his car 

[Arfur Dealy 823]

1 hour ago, David Horgan said:

Guy in the gym opposite us had an A5 coupe that had everything wrong with it , Headlight problems , Emissions problems , Turbo screaming its nuts off , EGR Blocked , Brakes shuddering ,EML Light on , Hand Brake working when it thought about it , Heated seats not working , Air con pump expired , and the list went on and on . I sent him to WBAC and they offered £6,200 which was CAP Clean  Then I told him to go to Evans Halshaw after , They gave him £7,100 and never even sat in it ,All Dash lights taped over from the outside of the speedo glass  

Saw it listed in Notts BCA UK Car group sale and watched it Sell at £7,400 on the hammer  online  Hall bid at £7,300 . The whole process doesn't make sense except the total numbers involved . The public using this sell my car approach are just inflating the retail pricing in the end aren't they 

Needed 1k repairs in our thinking . I don't know what they do with them when they've bought scrap like that at CAP + £1,200 + Fees with faults . 

Still Andy was happy and he bought our car off us  and gave me £200 in my hand for sorting him extra cash for his car 

Now that is what I call customer service... Well done David

[Lakeside 94]

If he sold it to Evans Halshaw it should of gone through Pendragon not UKCGR?

[CCC 31]

23 hours ago, Nick M.K. said:

WBAC don’t need profit on the unit. 

if they get back what they paid and parent company BCA gets their £300ish buyers fee and they can do that several thousand times in a day it’s a great business model. 

But WBAC often makes huge profit on the metal also. The beauty of auctions I guess :-)))

Is the next stage that the dealer who buys it doesn’t make a massive profit on the unit but does on the finance?

its a pack of cards I reckon, but then I’m a pessimist when it comes the this stuff.