Value dropped by 21% since June ?

[Duvetday]

I occasionally, casually, check in with WBAC just to see what the underlying trend is with car values.

Mine has been steady (+/-5%) all this year but then suddenly dropped 21% since June.

Just wondered if anybody else had experienced this, or if maybe it's just the algorithm trying it on ?

Mines a soft top so partly could be a seasonal effect but I don't recall anything like this last year.

V6 2018 P380 Conv

[stefan9107]

I occasionally, casually, check in with WBAC just to see what the underlying trend is with car values.

Mine has been steady (+/-5%) all this year but then suddenly dropped 21% since June.

Just wondered if anybody else had experienced this, or if maybe it's just the algorithm trying it on ?

Mines a soft top so partly could be a seasonal effect but I don't recall anything like this last year.

V6 2018 P380 Conv

I can confirm pretty much the same. WBAC values at the moment appear to be along the lines of "we don't really want your car unless you give it to us for nothing". Kind of like when a car insurer quotes you £10,000. It's their way of saying we don't want your business.

I can't remember the exact figures, but mine dropped somewhere between 20-30% in the past couple of months. It is a general tactic they use when they are overstocked and not selling anything. It doesn't really mean car values have dropped, just that they don't want them.

[scm]

The only way you "lose" money is when you sell, so not worth worrying about values until then. Just enjoy what you've got!

[Duvetday]

I occasionally, casually, check in with WBAC just to see what the underlying trend is with car values.

Mine has been steady (+/-5%) all this year but then suddenly dropped 21% since June.

Just wondered if anybody else had experienced this, or if maybe it's just the algorithm trying it on ?

Mines a soft top so partly could be a seasonal effect but I don't recall anything like this last year.

V6 2018 P380 Conv

I can confirm pretty much the same. WBAC values at the moment appear to be along the lines of "we don't really want your car unless you give it to us for nothing". Kind of like when a car insurer quotes you £10,000. It's their way of saying we don't want your business.

Yep that's probably it

[Duvetday]

The only way you "lose" money is when you sell, so not worth worrying about values until then. Just enjoy what you've got!

I quite enjoy living in my house too....but that doesn't stop me checking in on what it's worth now and then. Same goes for shares, pension etc.

You never know when you might suddenly need the cash value !

[Cluck]

I was watching the Seen Through Glass youtube chap at the weekend and the car dealer chap he does his podcast with was mentioning that prices were far from being as strong as they used to be, especially on Range Rovers and Porsches. When you look at examples like the 'R' that a member here is trying to sell (£65K for a 700-mile car that looks like it would have retailed at over £105K new), you realise that the market is not as healthy in certain segments as some people would like. Interest rates will have affected things massively, combined with less people around that can afford to go out and drop £50K - £100K on a car, let alone that money on a used car.

[Duvetday]

Yep, and the manufacturers are going to have to cotton on with new car prices soon if they are to make any sales.

[Cluck]

This is the video I watched. The chap on the left is the car dealer. The car market discussion finishes around the 25-minute mark.

[jonm]

A lot of people bought their dream cars using money they'd saved up over the pandemic, pushing up prices, now times are hard and people can't justify the expense of running a luxury car and are selling, pushing prices down.

[jagseven]

Values seem all over the place - best to only spend what you can afford and enjoy as much as possible. It’s hard to know what is “sensible” - I bought my SVR 9 months ago because I was fed up with inflation eroding cash values. I figured if I’m going lose a shed load of cash (via the impact of inflation or depreciation) I’d rather have some fun in the process and the F-type is that fun!