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Discussion Starter #21
Does a payment holiday extend the overall term, I wonder? If so it could take the date of your decision til later in the year.
I've no knowledge of "payment holidays" other than what the title suggests.

I bought the Giulia half expecting it to be the last IC engined car I would buy and that I would hopefully be able to keep it until it was virtually valueless. Just a bit worried that the electronics won't last that long.

(What's the cycling situation like where you are, or have you just hung your bike up in the garage for now? I live in the countryside in the Derbyshire Dales and ride off-road so can quite easily plan a route where I see hardly anyone but the situation for road riders is looking a bit more problematical, not helped by Pierce Morgan having a rant on TV this morning)
 

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I've no knowledge of "payment holidays" other than what the title suggests.

I bought the Giulia half expecting it to be the last IC engined car I would buy and that I would hopefully be able to keep it until it was virtually valueless. Just a bit worried that the electronics won't last that long.
Electronic systems in cars are built in compliance with standards and regulations which in part require components & accessories to be robust and fit for purpose for the expected life cycle of the vehicle. Electronic components (non moving parts) will usually outlast any mechanical component by some way.

If you mean electrical components as in relays, switches/starter motrs etc etc then of course they may fail, but these are easily sourced and can be replaced.
 

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Regarding the electronics durability;
I just had an injector replaced on a 1998 GTV, injector 2 was doing nothing and the ride was noticeably poor but no engine light or error codes. I'm sure my Giulietta or your Giulia would have popped up an error indicating it would be an injector.

Hence saving the manual labour costs of figuring out what doesn't work. (and new sparks that weren't needed).

So I think it's not the electronics to worry about, I'm sure sensor replacements will be available as they are for my old Gtv, it's the rubber bits, gaskets and trim that fails and harder/expensive to replace.

ECU, throttle body controller, radio, cd-changer, ABS modules are all original and not failed in the last 21 years.
 

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Similar situation to you Cue. The two year PCP on my G Veloce (which I took out because it came with a £9,000 discount and an interest rate of 0%) has a final payment of £20,000 due in June but, according to WBAC, my car is now worth only £14,000, which hopefully is a load of WBAC bollx, but who knows.

So do I continue with my original plan and pay £20,000 for my £14,000 Giulia or just hand it back on the basis that by June no one will be going anywhere anyway.

I am due to take it back to Beechdale for some warranty work tomorrow so If I get the chance, which is not too likely, I might try and get a trade in price from them.
What is to stop you handing it back and then buying it for £14,000?
 

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That was what I assumed but at that point in time (June apparently) could he not hand it back and buy it for the current value which might well be less than £14k
 

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Discussion Starter #29
What is to stop you handing it back and then buying it for £14,000?
Would FCA do that? I assumed they just sent them to auction or left them with the dealer to sell if they were handed back and don't forget, that this is WBAC's valuation so this whole thread could be based on myth.

My PCP completes this June so still time for things to develop.
 

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I will let you all know after tomorrow’s sale that we are building as I type this how well cars are selling .
There’s a nice Mitsubishi 3000 twin turbo (N reg) going in tomorrow under Bristol Street Motors 75,000 on the clock , Red, clean car, £2.5 reserve on it grab a good deal. Worth easy £5-7k


Sent from my iPhone using Tapatalk
 

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Does a payment holiday extend the overall term, I wonder? If so it could take the date of your decision til later in the year.
Typically in the past a payment holiday would have increased the term by the number of payments missed, they would also continue charging you interest for those months missed. We find ourselves in unprecedented times now, so no idea how a payment holiday would work - I can't imagine they wouldn't increase the term, but they may waive the interest...?
 

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WBAC don’t want to buy cars at the moment. The scum are trying to exploit desperate people.

Arnold Clarke have stopped buying.
 

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I was just about in a position to buy another Alfa, but I’m hesitant.

Dealers were offering me a good px price before corona because high end, performance cars weren’t selling then.

Maybe it is a good time to buy with dealers wanting to liquidate As much stock as possible?
 

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WBAC don’t want to buy cars at the moment. The scum are trying to exploit desperate people.

Arnold Clarke have stopped buying.
They’re not scum really. They are in business and they don’t need to tie up capital in stock. It’s supply and demand and there’s other stuff on people’s minds than changing their car. Obviously , if you’re in need of a car and don’t have one of any value to dispose of then it’s an opportunity.
 

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They’re not scum really. They are in business and they don’t need to tie up capital in stock. It’s supply and demand and there’s other stuff on people’s minds than changing their car. Obviously , if you’re in need of a car and don’t have one of any value to dispose of then it’s an opportunity.
I totally disagree. Other similar companies have stopped buying.

WBAC are taking advantage of desperate people and driving px values down. No one else would sell to them. Their offers are ridiculous. £11k for a 2014 M4?

I’ll buy as many as I can afford at that price.

Im still looking for a quad but it will be interesting to see prices over the next 2 weeks.

Even 991’s are looking sensibly priced.

I think everything will pick up again in a few months If people are sensible about social distancing.
 

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Discussion Starter #37
They’re not scum really. They are in business and they don’t need to tie up capital in stock. It’s supply and demand and there’s other stuff on people’s minds than changing their car. Obviously , if you’re in need of a car and don’t have one of any value to dispose of then it’s an opportunity.
Actually Cue, after selling my wife's Z4 to them a year ago, I agree with Kev K, they are scum.
 

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I totally disagree. Other similar companies have stopped buying.

WBAC are taking advantage of desperate people and driving px values down. No one else would sell to them. Their offers are ridiculous. £11k for a 2014 M4?

I’ll buy as many as I can afford at that price.

Im still looking for a quad but it will be interesting to see prices over the next 2 weeks.

Even 991’s are looking sensibly priced.

I think everything will pick up again in a few months If people are sensible about social distancing.
So what is the value of a 2014 M4? It was 21k a few months ago, but what is it right now? No one other than someone with a utterly secure job and cash in the bank would even be thinking of buying an M4 right now. Most of the people in that position wouldn’t be after a second hand M4 anyway. If you‘ve got an M4 you want to sell, WBACs price suggests that retail is about 14 grand. Seems about right.

This thing isn’t going to be over until a reliable vaccine is made. At a guess, at the end of this cycle, 5% of the population will have had it. We need another 12 goes at it....
 

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WBAC is the end of the BCA food chain so you could say they’re scum. They are part of a system that starts with preparing cars at the docks right through taking them back at the end of the lease by which time they’ve hoped to find a buyer. If not they go to auction. I took our Multipla to WBAC and got £250 minus £50 paperwork after owning it from 3 years old to 11. They know what they can get away with and the value of their service to the seller.
 

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So what is the value of a 2014 M4? It was 21k a few months ago, but what is it right now? No one other than someone with a utterly secure job and cash in the bank would even be thinking of buying an M4 right now. Most of the people in that position wouldn’t be after a second hand M4 anyway. If you‘ve got an M4 you want to sell, WBACs price suggests that retail is about 14 grand. Seems about right.

This thing isn’t going to be over until a reliable vaccine is made. At a guess, at the end of this cycle, 5% of the population will have had it. We need another 12 goes at it....
I haven't got a m4 to sell so I’m not concerned. The car is actually a 2015 with a really high spec (Full leather, ccb’s etc) and 28k miles. My mate has owned it since new. That price was 2 weeks ago too.

You would struggle to get a decent e92 M3 with 45k miles for £14k.

I haven’t got a secure job and I’m looking at buying a £40k Alfa quad. My thinking is that dealers will want to shift stock and I’m trading up. I don’t feel bad for trying as I’ve been shafted on px by dealers many times in the past.

Performance cars around £20k seemed to be selling well (before corona). £30k plus seems a different story.

I just checked what WBAC would pay for a 2017 quad with 30k miles. £11,495.

I agree this is not going away. But once the curve levels out, things will start to get back to normal. Car values will be hit short term like the stock market imo. Other than the crazy expensive stuff selling over list.

The performance car market had been struggling for months before this anyway. Porsche Market has been stagnant. I had been watching 991’s waiting for them to drop below £40k. They just didnt sell rather than the dropping their price.
 
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