Negotiating to close the gap
Discussion
Hi
Some sage advice required.
Looking at a second-hand car 20 plate BMW i3 electric only with low mileage 10K.
Hi spec model.
Seller wants £29.5K WBAC pricing at £24.5K
Seller has indicated that they could knock a little off and obviously I haven't mentioned the quote I did from WBAC.
I'm currently thinking its not worth even trying to negotiate but I'm interested to learn if WBAC does significantly increase their offer say by looking at the options.
Obviously I'm aware of the current sellers market and monthly increases in WBAC valuation but I'm interested in the fact whether re-valuations (upwards) by WBAC are common or not.
NB WBAC can be substituted for any other Car Buying outfit.
Some sage advice required.
Looking at a second-hand car 20 plate BMW i3 electric only with low mileage 10K.
Hi spec model.
Seller wants £29.5K WBAC pricing at £24.5K
Seller has indicated that they could knock a little off and obviously I haven't mentioned the quote I did from WBAC.
I'm currently thinking its not worth even trying to negotiate but I'm interested to learn if WBAC does significantly increase their offer say by looking at the options.
Obviously I'm aware of the current sellers market and monthly increases in WBAC valuation but I'm interested in the fact whether re-valuations (upwards) by WBAC are common or not.
NB WBAC can be substituted for any other Car Buying outfit.
I can't imagine a situation where WBAC make an offer on a car based on the data provided then you turn up and they give you more than they offered, their business model will be if they make you an offer and you then book an appointment to sell the car they assume you are happy with the offer they made.
I would never expect them to offer more than the online valuation.
I sold a Focus ST to them around 3-4 years ago and their buyer said he thoguht i had been a little overly critical of the condition I put in online but they still only paid me the online offer, there was no suggestion ever they would give me more for it.
Edit- If you are looking to see if the seller of the i£ will negotiate down to the WBAC valuation I think you have no chance to be honest, how does it's price compare with other similar cars for sale online? That is the real measure, not the WBAC valuation.
I would never expect them to offer more than the online valuation.
I sold a Focus ST to them around 3-4 years ago and their buyer said he thoguht i had been a little overly critical of the condition I put in online but they still only paid me the online offer, there was no suggestion ever they would give me more for it.
Edit- If you are looking to see if the seller of the i£ will negotiate down to the WBAC valuation I think you have no chance to be honest, how does it's price compare with other similar cars for sale online? That is the real measure, not the WBAC valuation.
If you knocked back WBAC's initial offer they might increase it. I'm sure that happened to me recently.
I wouldn't be using them to negotiate a private sale anyway.
https://www.autotrader.co.uk/car-search?sort=price...
There's a bunch of 2020 my i3's with a maximum of 10k mileage. Just work out what you think it's worth and make an offer.
I wouldn't be using them to negotiate a private sale anyway.
https://www.autotrader.co.uk/car-search?sort=price...
There's a bunch of 2020 my i3's with a maximum of 10k mileage. Just work out what you think it's worth and make an offer.
Greenmantle said:
Hi
Some sage advice required.
Looking at a second-hand car 20 plate BMW i3 electric only with low mileage 10K.
Hi spec model.
Seller wants £29.5K WBAC pricing at £24.5K
Seller has indicated that they could knock a little off and obviously I haven't mentioned the quote I did from WBAC.
I'm currently thinking its not worth even trying to negotiate but I'm interested to learn if WBAC does significantly increase their offer say by looking at the options.
Obviously I'm aware of the current sellers market and monthly increases in WBAC valuation but I'm interested in the fact whether re-valuations (upwards) by WBAC are common or not.
NB WBAC can be substituted for any other Car Buying outfit.
You could get BMW Used Approved for less than what the seller wants. FSH, warranty, lots of choice, some with a few thousand pounds in options.Some sage advice required.
Looking at a second-hand car 20 plate BMW i3 electric only with low mileage 10K.
Hi spec model.
Seller wants £29.5K WBAC pricing at £24.5K
Seller has indicated that they could knock a little off and obviously I haven't mentioned the quote I did from WBAC.
I'm currently thinking its not worth even trying to negotiate but I'm interested to learn if WBAC does significantly increase their offer say by looking at the options.
Obviously I'm aware of the current sellers market and monthly increases in WBAC valuation but I'm interested in the fact whether re-valuations (upwards) by WBAC are common or not.
NB WBAC can be substituted for any other Car Buying outfit.
Jamescrs said:
I can't imagine a situation where WBAC make an offer on a car based on the data provided then you turn up and they give you more than they offered, their business model will be if they make you an offer and you then book an appointment to sell the car they assume you are happy with the offer they made.
I would never expect them to offer more than the online valuation.
I sold a Focus ST to them around 3-4 years ago and their buyer said he thoguht i had been a little overly critical of the condition I put in online but they still only paid me the online offer, there was no suggestion ever they would give me more for it.
Edit- If you are looking to see if the seller of the i£ will negotiate down to the WBAC valuation I think you have no chance to be honest, how does it's price compare with other similar cars for sale online? That is the real measure, not the WBAC valuation.
It's happened to me once.. and I've moved around 14 cars through WBAC.I would never expect them to offer more than the online valuation.
I sold a Focus ST to them around 3-4 years ago and their buyer said he thoguht i had been a little overly critical of the condition I put in online but they still only paid me the online offer, there was no suggestion ever they would give me more for it.
Edit- If you are looking to see if the seller of the i£ will negotiate down to the WBAC valuation I think you have no chance to be honest, how does it's price compare with other similar cars for sale online? That is the real measure, not the WBAC valuation.
That was RS6 in minted condition that had a bit of work done on it... they made a call and gave me £800 over the original valuation..
Not a huge amount mind you.. but better than nothing.
The money was in my bank before the taxi driver taking me home had finished moaning and telling me how bad and dodgy WBAC was...
Thanks for all the sound advice.
NB
I'm not trying to p
s off any private sellers by using WBAC but at the end of the day if you are familiar with any sort of pricing mechanism for example financial instruments via Bloomberg you will know that there is usually a dominant market maker and it is this price that the majority of trades work to.
Prior to WBAC there was Parkers and Glass that is just how it is. In addition we all have a laugh at the "seriously overpriced cars thread" and I'm not saying that £29.5K is overpriced I am just trying to gain a better understanding of what is a fair price since as someone has already pointed out there are a number of potential purchases via trade sellers which have a lower price.
Lastly why I wanted to pursue this possible purchase was because the seller is conveniently half a mile away. I have seen the car and downloaded the list of options via the VIN. They have also said that they want to sell two of their cars (this EV and a Lexus hybrid) and replace it with a Tesla Y which might work in my favour.
NB
I'm not trying to p
s off any private sellers by using WBAC but at the end of the day if you are familiar with any sort of pricing mechanism for example financial instruments via Bloomberg you will know that there is usually a dominant market maker and it is this price that the majority of trades work to.Prior to WBAC there was Parkers and Glass that is just how it is. In addition we all have a laugh at the "seriously overpriced cars thread" and I'm not saying that £29.5K is overpriced I am just trying to gain a better understanding of what is a fair price since as someone has already pointed out there are a number of potential purchases via trade sellers which have a lower price.
Lastly why I wanted to pursue this possible purchase was because the seller is conveniently half a mile away. I have seen the car and downloaded the list of options via the VIN. They have also said that they want to sell two of their cars (this EV and a Lexus hybrid) and replace it with a Tesla Y which might work in my favour.
As a buyer it’s not really applicable for you to be using WBAC figures. They’re at the low end anyway.
We have several i3s at work and for town use they’re ok, but on a bumpy rural B road they’re rather nasty. The electric Corsas we have are far nicer to steer down a back road as well as being decent in town.
We have several i3s at work and for town use they’re ok, but on a bumpy rural B road they’re rather nasty. The electric Corsas we have are far nicer to steer down a back road as well as being decent in town.
WBAC is very much the low end - but they will give you the money on the spot for a low hassle sale.
By definition a private buyer should expect to pay more as it's now more hassle for the seller.
They may give you an idea of what offer to make - but then as above - you should look at approved used as the other end of the spectrum.
As a seller - I may negotiate based on other cars actually for sale somewhat locally - and for specific issues - but not a WBAC valuation - I'd rather just take it to WBAC.
By definition a private buyer should expect to pay more as it's now more hassle for the seller.
They may give you an idea of what offer to make - but then as above - you should look at approved used as the other end of the spectrum.
As a seller - I may negotiate based on other cars actually for sale somewhat locally - and for specific issues - but not a WBAC valuation - I'd rather just take it to WBAC.
Greenmantle said:
Thanks for all the sound advice.
NB
I'm not trying to ps off any private sellers by using WBAC but at the end of the day if you are familiar with any sort of pricing mechanism for example financial instruments via Bloomberg you will know that there is usually a dominant market maker and it is this price that the majority of trades work to.
Prior to WBAC there was Parkers and Glass that is just how it is. In addition we all have a laugh at the "seriously overpriced cars thread" and I'm not saying that £29.5K is overpriced I am just trying to gain a better understanding of what is a fair price since as someone has already pointed out there are a number of potential purchases via trade sellers which have a lower price.
WBAC is the datum for "bottom price" tbh. You can't use their valuation to negotiate a seller down. You can use other cars on the market to do this.NB
I'm not trying to p
s off any private sellers by using WBAC but at the end of the day if you are familiar with any sort of pricing mechanism for example financial instruments via Bloomberg you will know that there is usually a dominant market maker and it is this price that the majority of trades work to.Prior to WBAC there was Parkers and Glass that is just how it is. In addition we all have a laugh at the "seriously overpriced cars thread" and I'm not saying that £29.5K is overpriced I am just trying to gain a better understanding of what is a fair price since as someone has already pointed out there are a number of potential purchases via trade sellers which have a lower price.
If I were selling a car, and someone came along and said "WBAC say its worth this", they'd be asked to leave.
thanks for the additional advice - maybe I should have titled my thread
"Negotiating to REDUCE the Gap".
I'm fully aware of WBAC status as a wholesaler all I'm saying is that to a normal person like me £5k difference is a whole chunk of change and so maybe £27k might be agreeable to both of us?
"Negotiating to REDUCE the Gap".
I'm fully aware of WBAC status as a wholesaler all I'm saying is that to a normal person like me £5k difference is a whole chunk of change and so maybe £27k might be agreeable to both of us?
Greenmantle said:
thanks for the additional advice - maybe I should have titled my thread
"Negotiating to REDUCE the Gap".
I'm fully aware of WBAC status as a wholesaler all I'm saying is that to a normal person like me £5k difference is a whole chunk of change and so maybe £27k might be agreeable to both of us?
Just peruse the link I provided and work out a fair figure. Certainly factor in the convenience of the seller's proximity to you. "Negotiating to REDUCE the Gap".
I'm fully aware of WBAC status as a wholesaler all I'm saying is that to a normal person like me £5k difference is a whole chunk of change and so maybe £27k might be agreeable to both of us?
Also take into account the fact that some of the cars listed are trade sales, and usually carry a premium. Simple market research.
Greenmantle said:
Hi
Some sage advice required.
Looking at a second-hand car 20 plate BMW i3 electric only with low mileage 10K.
Hi spec model.
Seller wants £29.5K WBAC pricing at £24.5K
Seller has indicated that they could knock a little off and obviously I haven't mentioned the quote I did from WBAC.
I'm currently thinking its not worth even trying to negotiate but I'm interested to learn if WBAC does significantly increase their offer say by looking at the options.
Obviously I'm aware of the current sellers market and monthly increases in WBAC valuation but I'm interested in the fact whether re-valuations (upwards) by WBAC are common or not.
NB WBAC can be substituted for any other Car Buying outfit.
Cazoo is WBAC's selling company. They have 3 2020 cars ranging from £25k for a 28k mile car to £28.5k for a 2020 with 12k miles. Or £30k for a 2021 with 5k miles. Some sage advice required.
Looking at a second-hand car 20 plate BMW i3 electric only with low mileage 10K.
Hi spec model.
Seller wants £29.5K WBAC pricing at £24.5K
Seller has indicated that they could knock a little off and obviously I haven't mentioned the quote I did from WBAC.
I'm currently thinking its not worth even trying to negotiate but I'm interested to learn if WBAC does significantly increase their offer say by looking at the options.
Obviously I'm aware of the current sellers market and monthly increases in WBAC valuation but I'm interested in the fact whether re-valuations (upwards) by WBAC are common or not.
NB WBAC can be substituted for any other Car Buying outfit.
I'm assuming it's a main dealer?
Their selling prices are not far off the main dealer. A main dealer with an approved warranty is going to be more expensive than an online car supermarket.
Expecting a main dealer to be influenced by WBAC buying price is not fair.
Edited by Driver101 on Wednesday 27th April 16:24
Driver101 said:
Cazoo is WBAC's selling company. They have 3 2020 cars ranging from £25k for a 28k mile car to £28.5k for a 2020 with 12k miles. Or £30k for a 2021 with 5k miles.
I'm assuming it's a main dealer?
Their selling prices are not far off the main dealer. A main dealer with an approved warranty is going to be more expensive than an online car supermarket.
Expecting a main dealer to be influenced by WBAC buying price is not fair.
Cazoo is unrelated to WBAC, Cinch will be who you are thinking of.I'm assuming it's a main dealer?
Their selling prices are not far off the main dealer. A main dealer with an approved warranty is going to be more expensive than an online car supermarket.
Expecting a main dealer to be influenced by WBAC buying price is not fair.
Edited by Driver101 on Wednesday 27th April 16:24
ayman82 said:
Driver101 said:
Cazoo is WBAC's selling company. They have 3 2020 cars ranging from £25k for a 28k mile car to £28.5k for a 2020 with 12k miles. Or £30k for a 2021 with 5k miles.
I'm assuming it's a main dealer?
Their selling prices are not far off the main dealer. A main dealer with an approved warranty is going to be more expensive than an online car supermarket.
Expecting a main dealer to be influenced by WBAC buying price is not fair.
Cazoo is unrelated to WBAC, Cinch will be who you are thinking of.I'm assuming it's a main dealer?
Their selling prices are not far off the main dealer. A main dealer with an approved warranty is going to be more expensive than an online car supermarket.
Expecting a main dealer to be influenced by WBAC buying price is not fair.
Edited by Driver101 on Wednesday 27th April 16:24
Greenmantle said:
thanks for the additional advice - maybe I should have titled my thread
"Negotiating to REDUCE the Gap".
I'm fully aware of WBAC status as a wholesaler all I'm saying is that to a normal person like me £5k difference is a whole chunk of change and so maybe £27k might be agreeable to both of us?
OP you are correct and ignore all the current people commenting to ignore WBAC. They are usually the first to use WBAC when needed. Seems like the car your interested in is priced at retail. Wbac is at 25k. I’d go in at 27k and say that’s your best and let you know. Be prepared to go to 27500 to close it if needed. Good luck. "Negotiating to REDUCE the Gap".
I'm fully aware of WBAC status as a wholesaler all I'm saying is that to a normal person like me £5k difference is a whole chunk of change and so maybe £27k might be agreeable to both of us?
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