Valuating cars - Help?

chippy_250

Is there a formula for actually valuating cars or do dealers just go by memory?

For example how much would you say a: 2003 Peugeot 206 1.4 Diesel with 46,000 is roughly worth?

Please explain how you work out your answers also.

Thanks.

rs65

Dealers will use Glass's Guide - you can pay on their website for a valuation.

Whatcar.co.uk has a valuation button on their website which is free. Won't give you the precise figure that Glass's will but it should be close.

victor2

There is no formula, you use Glass's guide, especially if you're a dealer.

Ghostrider

valuating? Do you Evaluating or valuing?

Either way, it does depend on the dealer, if a dealer isn't sticking your traded in car on his forecourt and he plans to punt it to trade, then he'll not be using Glasses I don't suspect, he'll be asking his contacts to give him a price, or he'd use Glasses and apply a margin knowing he'll not be getting book for it.

If he's likely to put it on his forecourt then he'll follow Glasses more closely.

It gets more complicated too, as he might be offering you a discount on the new car but then taking a bit off the trade in, or even vice versa sometimes. So it's very hard to know exactly how a dealer arrives at the trade in value of a car.

If you're valuing your own car for your own reasons, then the best place to look is the classifieds as it represents the most accurate and up to date price information.

forgotmyname

Glasses guide is that though just a guide, Dealers will know what fetches what through the auctions.

Looking at whats been sold on ebay £700 - £1070.

Advertised classifieds starting prices from £600 to almost £3000. But its the sold listings that tell you
the real value.

Hintza

Anything standard over 10 years old is in my book worth less than £1k (with the very odd exception).

These cars are well past their economic viability (sure some will run for years without issue) but after 7 years you can start to expect major components to start failing.

System

When buying a new(er) car from a dealer and you want to trade in your old car, it is a good idea to know the approximate value of your old car, use the web sites to get a rough guide. This will give you an idea of the value of the new car you can afford to look at.

But, the most important thing is not to ask the dealer what your old car is worth, just tell them how much cash you want to give them for the new car, (start lower than you actually would be willing to pay), they then have to go to the boss and check if they can get to that price by discounting the new car and/or adjusting their valuation of your old car. They will nearly always come back with a cash amount higher than you have said, you can now negotiate until you agree a price to pay, or you walk away because the difference is too great and you were insulted by the amount they want from you.

Note, this approach is still valid even if you need finance for the purchase, just consider the finance to be added to your cash deposit and the total is the amount you are willing to pay, as above.

forgotmyname

BAA1 wrote: »

ust tell them how much cash you want to give them for the new car, (start lower than you actually would be willing to pay), they then have to go to the boss and check if they can get to that price by discounting the new car and/or adjusting their valuation of your old car.

You been to car craft as well lol

Common for saleman to do this, It makes you think you offered too little and they need more to make a profit.
Unless its a lemon they need to shift they know some sucker will come and pay the full asking price.

Ignore adverts, They are the wishful thinking price.

Look at whats sold and for how much. Ebay or local ex lease auctions.

Use the webuyanycar website to get a price to see what you would get if selling one. Then think the dealer probably paid around that figure anyway.

alx33277

Dealers absolutely wont use Glasses guide! Some finance companies do and carcraft may quote figures from Glasses in front of you if it suits a part ex deal or sale they want to push through but when making trade purchases or buying decisions, CAP is the industry bible. If you want a quote from CAP, send me a PM and I'll do a look up for you tomorrow. HTH..