Used Car Valuations

Driftwood

Hi there, I am currently in the process of looking for a used car and have chosen to buy from a dealer. I found a car with a listed price of 7495 pounds (my pound sign is not working on my keyboard at the mo.). I was interested in what it was worth using What Car's, Glass's and Parkers' valuation services. I cannot believe how quoted Dealer prices vary so much, as follows:

Glass's 7970 pounds
Parkers 6960 pounds
What Car 6620 pounds

It was for the same model of car and I also put in the mileage. Why is the variance so much? What should my target price be, based on these valuations? Does anyone know what percentage markup a dealer might make? I bet I can guess which valuation the dealer used!

I hope you can help!

harveybobbles

it would help if we knew a few details... Like what it is...?!

Lemonade_Pockets

The only person who can value your car is someone who is prepared to give you pound notes for it. I.e. it is worth whatever someone will give you.
The guides are simply that and as you have illustrated can be wildly different.
Anything that starts with a 7 sounds reasonable from the info you've provided....are you sure that glasses was the highest?

If in doubt go to another dealer, you'll soon find out what the going rate is.

Driftwood

Thanks for the info, so far. Glass's was the highest dealer retail price, and it makes the difference between highest and lowest about 1300 pounds.

The car is a Skoda 06/06 estate car and has done 55000 miles.

goldspanners

Driftwood wrote: »

The car is a Skoda 06/06 estate car and has done 55000 miles.

fabia? octavia? roomster?

Lemonade_Pockets

Driftwood wrote: »

Thanks for the info, so far. Glass's was the highest dealer retail price, and it makes the difference between highest and lowest about 1300 pounds.

The car is a Skoda 06/06 estate car and has done 55000 miles.

Sorry got the wrong end of the stick there. I didn't read your first post properly and assumed you where talking about part ex evaluation.

Generally speaking dealers will use glasses guide to assist them in valuing a car when purchasing it. Therefore glasses guide retail will probably be the best reflection on what they would hope to sell it for.

Just out of interest for on the parkers and whatcar site what happens if you put the same details in but for a px evaluation?

The easiest way to asses it, is just fire the details into autotrader select national and see what similar cars are going for round the country. Bear in mind history condition etc. If its a minter and your going to keep it for a while you'll be better of paying a few extra quid in the long run!

croakey

whatcar and parkers arent worth the paper they are printed on...glasses and CAP are a guide and as such should be treated in such light.

The car is worth what its worth to you...dont buy purely on price, make sure its the right car for you. saving 300quid and buying the wrong car will sting for the next 3,4,5 years thinking what could of been

motorguy

Driftwood wrote: »

Thanks for the info, so far. Glass's was the highest dealer retail price, and it makes the difference between highest and lowest about 1300 pounds.

The car is a Skoda 06/06 estate car and has done 55000 miles.

I dont think a price difference of +/- £600 is that great, given these are only 'guides'

See what other dealers are selling them for is probably the best way to value it...

Also RE: gross profit, on a car at this price around £2000. This would be broken down into £500 for warranty and refurbishment / servicing costs, £500 tax and VAT, £250 for overheads, and probably £750 gross profit. These would be rough estimates.