How accurate is comparethemarket car value?

Eternal1

Hi, when I type in the registration number of a car on comparethemarket car insurance is automatically displays the price it thinks the car is valued at. Every single time the value it displays is about £1000 or more lower than what the dealership is listing it for.

Is this normal? After all dealerships do need to make a profit on their sales but could it mean comparethemarket isn't taking into account mileage, general condition of the car etc?

gollum007

Benchmark, nothing more, nothing less
If average milage, condition & service history it shouldn't be too far off, but it takes none of these into account in any meaningful way.
Common cars are also more likely to be closer to the value than oddballs.

FWIW- They think mine is worth ~1k more than I paid for it two months ago.

dj1471

The value is only indicative based on the age and spec of the car, it can't consider mileage or condition.

That said a dealership markup of £1000 is fairly typical compared to a private sale.