Motoring Discussion > Cazoo loses 93% of it's value Buying / Selling
Thread Author: Falkirk Bairn Replies: 7

 Cazoo loses 93% of it's value - Falkirk Bairn
Cazoo was launched with a Stock Market valuation of $8 Billion

It has closed down European operations, it has cut back staff and now it has cut it's expectation on UK sales by about 1/3rd! 22 depots to be slimmed down to 7

What worked during Covid does not seem to be such a good idea today - competitors deliver cars, old style garages give a chance to sit in the car, drive the car, engage in the cost of change negotiations................

Higher 2nd hand prices, higher interest rates and tightening of household budgets hasn't helped.
 Cazoo loses 93% of it's value - Lygonos
I think falling 2nd hand prices will kill them off.

They gave me £18k in July for a 37k mile 2.5yr old MG ZS EV.

Put the same details in now and the offer is £12.5k.

They must be facing and enormous write-down on stock.
 Cazoo loses 93% of it's value - martin aston
That’s interesting. My 2018 Golf has been around the £12k mark with WBAC for the last year.
 Cazoo loses 93% of it's value - legacylad
WBAC have offered me £150 more for my car than they did last month, without requesting a new quote. Still £4K less than I paid for it 6 months ago, not that I’m thinking of selling.

At some point second hand prices much drop from the heights they reached in 2022.
 Cazoo loses 93% of it's value - Lygonos
As you probably know WBAC are owned by BCA auctions.

They use complex algorithms to ensure they average a few hundred quid more than the auction price.

They then boost this by incentivising their buyers to knock down prices for trivial chips/scratches on the cars coming in.
 Cazoo loses 93% of it's value - Runfer D'Hills
I bought my erstwhile company car nearly three years ago and still have it. Since then it has done another 65,000 miles without problems. It’s knocking on the door of 200,000 miles now and yet despite that, it is still apparently “worth” a couple of grand more than I paid for it.

Keep wondering what to do about it to be honest, it does everything I want and need, and I still want/need something that useful to me.

Fortunately I could easily afford to replace or repair it if required, so part of me just thinks I’ll carry on with it until it either packs in, or is no longer suitable.

 Cazoo loses 93% of it's value - zippy
>>I bought my erstwhile company car nearly three years ago...

My last couple of employers have been using dreadful lease companies.

Both colleagues and myself have tried to buy their company cars and have been met with best prices significantly in excess of newer and lower mileage showroom equivalents that come with some of the manufacturers warranty remaining.

I think I mentioned elsewhere that the current lease company's salary sacrifice scheme is more expensive then retail on some models and the same as retail on other models, even after taking 40% tax off. Despite them heavily advertising on internal websites / email, I think they either don't want the business or are just plain profiteering to those that don't want to shop around.

 Cazoo loses 93% of it's value - Runfer D'Hills
I was lucky enough to be able to buy mine at book value to the company at the time. Rather less than trade in value even then. Hence it has proven to be a good move financially.
Actually, it has proven to be a good move all round really. If I thought it would last forever I’d be happy enough to keep it.
I’m looking to retire this summer so I guess I’ll review it then.
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