Used car price guide
DaveFJ - 2/4/07 at 03:08 PM
Anyone know what my local dealer is talking about when he refers to the 'Capps' (spelling?) price guide?
Glass's and Parkers both put my car at trade in of approx £4200 but he insists that this mysterious 'capps' puts it at £3500........
cheers
<EDIT>
OK - I have established what Cap is... Next question....
Anyone on here have access to the current black book? can anyone confirm the guys valuation?
cheers
[Edited on 2/4/07 by DaveFJ]
nib1980 - 2/4/07 at 03:11 PM
yep it's used by toyota nissan and renault, it's more accurate but lower prices. you can usuallt negotiate up. i manged to get a value
above what it said
mookaloid - 2/4/07 at 04:11 PM
In my experience most dealers use the CAP guide (Current Auction Prices) because the values are generally lower and they like to buy in p/x's as
cheaply as possible so that they can a) make more money when they sell it on, or b) get out of the car by sending it to auction and hopefully getting
their money back if they are not going to put it on their pitch.
In any case both Glasses and CAP are only 'guides' - the real worth is what someone (dealer or otherwise) will pay.
various things affect the value - in the case of higher value cars where the monthly drop can run into thousands the dealer might assume that he will
have the p/x for 90 days and will then have to sell it on so he will forecast the CAP value 90 days ahead (based on the previous 3 months drop) and
bid accordingly.
Another way of valuing is they decide how much they can sell it for, take off the profit margin that they want less any reconditioning and there is
the value. In this case it is only the forecourt price that matters and what it says an any guide is irrelevant.
Mark
Keith Weiland - 2/4/07 at 06:02 PM
quote:
Originally posted by DaveFJ
OK - I have established what Cap is... Next question....
Anyone on here have access to the current black book? can anyone confirm the guys valuation?
cheers
[Edited on 2/4/07 by DaveFJ]
Ask the dealer to see the book. If they are telling the truth they will have no problem showing it.
If buying a new car , the best way to go about it is to find out the what the retail price is on it before you go to the dealer so you know exactly
what it should cost, that way you have a starting point.
You should have your finance sorted before you go to the dealer and ideally sell the car you are replacing yourself, you will always get a better
price.
Now you only need to ask the deal what the cash price is on the car and you dont have to haggle any price but that.
If you go to the dealer with a trade to negotiate price on and needing finance and wanting to get a good deal on the car you have too much to deal
with.
The dealer negotiates deals every day and it very good at it. You might do it once ever no matter what but you can limit how bad he beats you by
limiting what you have to negotiate.
If you are just negotiating price, just keep saying its too high and be prepared to walk out to "think about it". When he actually lets you
walk out and drive away you know he has given you the best deal he can or is willing to at that time.
You can then go back and take the deal the next day if you like.