IF you’re looking to sell your car, you may be considering taking it to a dealership. However, before you do, it helps to understand whether you’re getting a good deal when dealers value the cars they buy and sell.
Each dealership is different, so how can you tell which one is giving you the best valuation? Here we’ll look at how dealers typically value the cars they buy and sell.
Understanding a dealership valuation
The main thing you need to remember about dealership valuations, is that they can vary quite a lot depending upon the company. Take your car in to some of the smaller dealerships and often the only thing you’ll see them do is refer to a current pricing handbook.
This gives a rough estimation of how much the make and model is worth second-hand. They may give your car a quick inspection, but on the whole they go by whatever the handbook says.
Now, the main problem with this is that it doesn’t always reflect current prices. Also, if the dealer isn’t bothering to give the car a full inspection, it’s a sign they’re lazy, unmotivated, and highly unlikely to give you a fair estimation.
Some dealerships also offer a much lower valuation because they are focused on getting a quick sale. This could be as much as £1000 under what your car is actually worth. So, it’s important to look for a dealership which isn’t just focused on making a quick sale.
How a valuation should be done
So, now you know what a dealer shouldn’t do when making a valuation, what is it they should be doing?
You’ll know if you’re getting a good deal if the dealer considers the latest market movements. Take cap hpi for example. The company constantly looks at the latest trends and movements in the market to determine accurate, fair valuations. No matter what type of vehicle you own, they can tell you exactly how much it’s worth.
Of course, it’s also a good idea to do your research before you get a valuation from a dealership too. It can be useful to receive a free valuation online to get a rough idea of what you can expect. However, while the free car valuation tools online are an excellent resource, they should never be considered an alternative to an actual valuation.
Overall, a good dealership will take the condition and current age of the car, as well as look at the latest market movements to determine how much it is worth. Never accept an offer from a salesman who seems to be in too much of a rush to make a deal!