I would never offer what WBAC do for anything. I couldn’t look the seller in the face.Its hard to say, but if you want to buy one you'll have to offer more than WBAC will. You'll have to also find someone who is selling because they want to buy something else now while the price is low. A lot of the current advertisers aren't going to sell for such a low price now, but they might do after a while if the economic landscape continues to deteriorate.
I wouldn't feel comfortable buying one now for the same sort of money they were 3 months ago, it'd have to be a good chunk less, because there is now a much bigger risk that the bottom is going to fall out of car prices in general, as so many are on PCP where people can hand them back, which will leave a glut of them on the market, and lots of people could be out of jobs in 6 months time. Even if they're not, in general people are going to take this shock as a reason to start saving more, clearing debts etc rather than purchasing consumer goods.
The car I’m interested has been for sale for a while.
I feel exactly as you say. I am just not comfortable paying what they were 3 months ago. I’m not a wealthy guy and I can’t afford to throw money away.
I totally agree about PCP too. Hopefully this will burst that bubble which has been killing residuals for years. M3/4 and M5 are a great example. M5’s were losing 50% in 6 months before this madness. Christ knows what they’re worth at the moment.
Im just trying to work out what would be a fair offer and really appreciate your advice being in the trade. I really think the market for cars like these will be heavily depressed for a long time.
Buyers in the 30k - 40k used car market are usually stretching themselves for something they could not afford new (me). Your average joe just goes to Audi/bmw/vw etc for something new and shiny they can hand back in 3 years, for another new shiny one. Cars have become like phones to many people.
I can’t see many people looking to buy a 3 year old Alfa Quad/M3/c63 etc in the next year or so. I think it is the area of the market that will be hit the hardest. Cheap cars will be ok and rich people will still be rich.
It is going to be the working person, at national average wage and 20% higher that get hit by this hardest as we tend to live above our means and get everything on credit.
Im really glad I went for a truck over a Q7 a year ago. The hit is nowhere near as bad.