'What Car' Valuations - how accurate?

rubble2

My daughter is looking for a cheap second hand car (circa £1500.) She is looking in all the usual places - Autotrader, Gumtree, Exchange and Mart etc.

As a guide she is using the What Car online valuation service to check the prices she is being given. In nearly all cases inputting the registration details of the cars on sale is giving What Car valuations that seemingly exceed the asking price by a considerable amount.

In most cases the asking price is showing as less or equal to the What Car trade in price.

Just wondered how accurate this service actually is and if we are wasting our time using it (is there a better valuation tool available?).

Am I right in thinking that at the sort of price she is looking to spend she is better to buy privately then through a dealer? One of the dealers she spoke to offered a 30 day warranty which to be honest seems pretty useless considering the fact that she would be paying him a premium over and above the price of the same car bought privately.

Be interested to hear opinions, thanks

jimjames

I wouldnt bother with guide prices. The car prices online and what they are, compare between the different ones

david_a

As above. Ignore guides and compare cars.

Don't forget a warranty is on top of your consumer rights.

forgotmyname

They are as accurate as how long is this piece of string?

£1500 cars value wont be accurate in the guides it will be in the cars history and condition.

Miss a service or spot a bit of damage and its value alters greatly.

30 day warranty shows what they think of the cars quality. But they have to make a profit so your £1500 car was probably traded in for £600 - £800.

But its less likely to have been stolen or a logbook loan, you have some comeback if that happens. Providing they dont change names the instant you complain.

Richard53

Car price guides are completely reliable. When I want to sell a car, they always undervalue it, and when I want to buy they always overvalue it. 100% of the time, remarkable.


OP - buy privately at this price. You'll get twice the car for your money, but the risk is higher so take along that 'knowledgeable friend'.

rubble2

I find it a bit bewildering, similar cars in terms of age, mileage, condition etc seem to sell for considerably varying prices.

Some private sellers seem to sell at or near dealer prices (presumably priced the car by looking at on line prices for similar vehicles).

You get to the point of being suspicious of cars that are selling cheaply (too cheap?) and also cars that are up for a premium price (overvalued?). That is why it would be useful to have point of reference for a particular car of a particular age/mileage etc. just as a starting point.

jimjames

rubble2 wrote: »

You get to the point of being suspicious of cars that are selling cheaply (too cheap?) and also cars that are up for a premium price (overvalued?). That is why it would be useful to have point of reference for a particular car of a particular age/mileage etc. just as a starting point.

If you want to compare and have a reference point then a spreadsheet with the model, spec, mileage, owners and price might give some ideas. You can then get an idea of which ones might be over or under. Lower mileage, lower owners and better spec are likely to push price up. But at bargain prices the condition is everything and often that's down to actually seeing the car.

Things I'd look out for, cars owned for a long time, good service history, decent tyres and plenty of receipts. Avoid ones that have been owned a very short time, ones where owner is not on V5. Often you get a feel for the car from the owner and I buy as much on owner as the car.

mark5

What car prices are useless, cap and glass are more accurate but at £1500, I would be just looking to get the best car I can for the money.

rubble2

Thanks for all the advice and assistance. We have located a tidy and reliable (hopefully) Ford Focus 07 plate for £1200 - private sale.

Picking it up today