Not that long ago, a car was the most sought-after possession for many young people. However, recent research has suggested that ‘Generation Y’ (roughly those aged between 18-34) are now more interested in gadgets than gears!
A survey conducted in 23 mega cities globally by consultants Frost & Sullivan found that the share of public transport – including as push bikes – was increasing at a rate of around 2 per cent a year but, at the same time, car ownership was stagnant and, in many cases, falling. (Read More)No Comments
New data released by British Car Auctions (BCA) show that used car values are improving.
Figures released in BCA’s Quarterly ‘Pulse Report’ have revealed that the average value of a used car in the first quarter of 2012 was £6,114 – the highest first quarter figure recorded since Pulse began reporting in 2005. (Read More)No Comments
The Society of Motor Manufacturers and Traders (SMMT) has revised its forecast for 2012 sales after revealing a strong set of figures for April which showed new car sales in the UK rose to 142,322 last month, up 3.3% from April 2011.
The increase was down to a 14.8% rise in private sales, with fleet sales down 3.4% and business sales dropping 11.2%.
As a result, the SMMT has revised its forecast for 2012 sales up 0.4% to 1.95 million vehicles, which would take it above the level seen in 2011.
“We are seeing a steady increase in consumer confidence with growth in private demand, boosted by the arrival of a raft of new products,” said SMMT chief executive Paul Everitt.
“A strong April new car market has raised confidence across the UK motor industry.”
Once again, the best-selling car in the month was the Ford Fiesta with 8,780 sold, and the ever-popular hatchback retains its position as the best-selling car of the year to date, ahead of the Vauxhall Corsa and Ford Focus.
Once again, notable losers amongst the monthly sales stats are Renault and Alfa Romeo whose year-to-date figures are down 47% and 34% respectively compared with 2011.
Author: Paul WilkinsonNo Comments
Whilst you own your car you really should be aware of how much it is worth, you need this information when you are insuring the car, in the event of an accident, when buying a car and when selling a car.
Just because you tell an insurance company you car is worth £10,000 it doesn’t mean this is what they will pay you if the car has to be declared an insurance write off. Insurance companies will look at the value of cars and then make you an offer. They are supposed to offer you the retail value of your car, that’s how much it would cost you to replace the car like for like (make, model, condition and mileage). In many instances the insurers are now offering closer to trade valuations. That is what a dealer would be able to buy your car for, before they add their costs and profit margin.
By checking what your cars trade value is on Free Car Valuations you will be able to make a judgement on whether or not the insurance companies have made you a reasonable offer or not.
Finding out a cars trade value is also useful when you are negotiating a part exchange valuation when buying your new car. It is also valuable information to have when you are buying a new car from a car dealer. It may give you an indication perhaps as to how much they have paid for the car and how much profit they will have in it. Of course they have to factor in the costs of their advertising, car preparation, servicing, any repairs and warranties so don’t assume the difference between a trade valuation and retail price is total profit. You will be surprised how little net profit there is in some deals.
Also finding out what your car is worth in the trade will help you figure out what you should ask for it if you were to try and sell it privately. A rough guide to private selling prices should be somewhere between the retail and trade value.
Our trade values will provide a guide as to how much you would get for your car in either part exchange or by selling it to a cash for car company such as ourselves. Obviously these are only guide valuations and the price of your car could be worth more or less depending on a number of factors such as:-
The word I am talking about here is most commonly associated with the motor trade and it’s very mention is enough make every vehicle owner shudder.
It’s depreciation!…there I’ve said it!
A dictionary definition goes something like this: “A decrease or loss in value, as because of age, wear, or market conditions.”
Unless you’re lucky enough to have something like a 1957 Ferrari Testa Rossa or a weird and wonderful classic Bugatti lurking in the back of your garage, it’s almost certain that your vehicle is currently in the throes of depreciation as we speak! It truly is the “silent thief”.
So what causes it? And if we can’t prevent it, how can we best limit it?
Well, depreciation “kicks in” the very second a brand new car is driven off the dealer forecourt. The initial buyer has paid the ‘retail price’. From the second it hits the road, it’s down to it’s ‘wholesale price’ (what anyone else would be prepared to pay from that moment). This could be a reduction of anywhere between 15 and 40 per cent.
After that, the general ‘rule of thumb’ is that most cars tend to plateau at losing between 15 and 20 of its value per annum, though the depreciation does slow slightly as the car gets older.
The biggest single factor which determines exactly how much a car depreciates is supply versus demand.
If a car is low in supply but high in demand, it will probably retain its value better and vice versa. For example the cars that depreciate fastest are the mass-produced models sold at big discounts to the rental or fleet market. These models flood the used car market when the fleets start to replace their vehicles.
Another big factor which determines residual value is brand reputation/notoriety; Whether real or not, there is a long-standing perception of quality and value. These beliefs can be cultivated by the effectiveness of advertising campaigns, aesthetics, positive/negative press reports and word of mouth.
Design can also play a huge part. Cars with a current, bold look such as the MINI Cooper are in demand and thus worth more. Once or twice a decade, a manufacturer may completely re-design a model and, in general, the first year of that new-look model will hold its value better than subsequent years, whilst also rendering the pre-existing model less desirable.
When it comes to features or ‘options’, owners should be aware that with things like cruise control, air-con and alloy wheels, it isn’t so much a case of them adding value to your vehicle, but that value is deducted in their absence! The same can be said about service history. As for exterior, an exotic colour may look great to you but not to a future buyer! Popular colours such as silver, grey and black tend to hold their value better.
It almost goes without saying that the mileage a car covers can drastically effect its value. Lower mileage cars may be a little more desirable so hold their value a bit more. Higher mileage cars are often shunned by franchised dealers and so their value is reduced more dramatically.
Finally, the level of depreciation is indirectly affected by areas of ownership cost, namely maintenance, repair, fuel and insurance. Any model with a history of costing an owner big bucks in these areas will inevitably suffer in the re-sale market.
So, in summary, all cars lose money – fact! But, if you want to limit the impact of depreciation, you should follow these guidelines;
Buy a desirable, nearly new/second-hand model (at the right price of course!) in a popular colour with all the essential ‘options’ for its class. This will ensure you have a ready-made audience of purchasers when you choose to sell.
Look after it by cleaning the vehicle inside and out at regular intervals. And keep those service records up to date. Using a reputable independent dealer will invariably carry more clout than a cheap, ‘back-street’ operation. Keep the mileage down as low as possible.
Watch out for new replacement models. If there is an all-new replacement for the model you are currently driving on the horizon, be aware dealers tend to heavily discount the outgoing model which will affect the market value of your vehicle. so, if you are thinking of selling you car, do it well before the new model hits the showrooms!
What a minefield!!! How do Car Value Calculators work???
Valuing a car in today’s market is a difficult task, there are so many factors to be considered and getting it wrong could cost you thousands.
If I wanted to value a car today I would have to make sure I check a number of different factors before I could even attempt to give a car valuation. Giving a car valuation is one thing, but providing a car valuation that you then may be asked to back up with a firm offer to buy the car is another matter.
There are many websites and providers that will give you a value for your car, but it is relatively easy to value a car if you don’t have to worry about buying the car and then second guess what the market is going to do when you yourself have to sell the car on for profit!
Car values change each month when the new industry guides are released. Normally these are at the end of each month. During the last week of the month you have to consider what may happen to the price of cars in the next guide that is due to be released as any car you buy in the last week would be subject to any reduction in value in the new guide.
The most common guides used in the trade are not Parkers or Whatcar but Glasses’ and CAP (Car Auction Prices). Both these guides follow the market closely and usually set the price for what cars are worth.
I use both these guides to asses a cars true worth within the trade, but they then I also know those cars that are “below book” (meaning they are not worth what the guides say) or those that are “into book” (meaning they are worth more than what the guides say).
Car Value Calculators normally work on just one of the guide prices, perhaps adjust it a bit for the mileage and then give you an approximate figure.
Free Car Valuations Car Value Calculator works in a similar way, but it is monitored to make sure it is as accurate as an automated car value calculator can be. Anyone saying I want to sell my car after receiving our initial value can then ask us to provide a fixed offer to buy their car. This is done manually based on the extra information we request and taking into consideration the guide prices and current market conditions.
Remember your car is only worth what someone else is willing to pay for it. Just because you may have seen one advertised at a higher price, it doesn’t mean that car is actually worth that. Many dealers have over aged, over priced stock at the moment that they simply can’t afford to sell for less as it would show as a loss on their books, they’d rather have it showing as a stock value!
Selling your car in the current economic climate could prove to be difficult, especially if you are hoping to sell it privately. Many people simply do not have the cash readily available to go out and buy a new car. Bank loans are harder to get approved and car finance is only available from car dealerships.
Many people who are selling their car don’t want to part exchange, they want to sell their car and negotiate with cash either as a deposit or to buy a car outright.
Free Can Valuations can help you if you are looking to sell your car.
We will value your car, make you an offer for your car, collect it and pay for it before we take it away, it really is as simple as that.
Selling your car online is secure and hassle free, you are paid by direct bank transfer and our drivers stay with you until you confirm the funds are showing in your account.
Don’t just take our word for it, see for yourself on our testimonials page what our customers thought.
“I wanted to sell my car and couldn’t really be bothered advertising it in the local paper, dealing with the test drives or more worryingly not dealing with any test drives having paid a smal fortune to advertise it. A friend told me to search online for companies buying cars. The did warn me to be carefull as some pay you a few days after they have your car some even say they will only pay you once they have sold your car on. I didn’t want that sort of sale. After trying a couple of other website I found Free Car Valuations. It was also so easy..almost too good to be true. The site valued my car instantly, the valuations was around what I was expecting, comparable with what I had been told I would get if I was part exchanging. I clicked the yes button to get an offer, this arrived within minutes by email. It was at the low end of the valuations (like you may expect) but I called them up and managed to negotiate a better deal. Max assured me they wouldn’t try and reduce their offer to buy my car on collection. The next day a collection driver turned up in the morning, had a quick look over the car. He called Free Car Valuations (Max I presumed) told him about the scuffed alloys, this didn’t worry me as I had already mentioned those to Max. Max confirmed everything was as agreed and the money showed in my account about 25 minutes later at which point the driver left with my car. I can honestly say I was really impressed and a little surprised at how easy it was to sell my car. I had heard the stories about companies reducing offers at the last minute but I’m pleased to say it wasn’t even mentioned. Thank you Max and Free Car for making it so easy – T P – Exeter.”No Comments
Free Car Valuations are one of the UK’s top Car Buyers. We will make you a guaranteed offer and pay you before we take your car. No catches.
From our initial, instant free valuation where we provide a guide price as to what you car is worth within the motor trade, you can request that we send you a guaranteed offer to buy your car.
The process of selling your car to us is very simple and more importantly completely risk & hassle free. If you think the initial valuation is around about what you would like to sell your car for then, ask us to make you a guaranteed offer for your car. Once you have asked for the guaranteed offer we will be in touch to confirm the vehicle’s details, service history and condition and then give you our guaranteed offer.
If you are happy with the offer we make to you and you accept it, we then arrange a convenient time to come to you and collect your car. We use an independant collection company, who are not there to start renegotiating with you, they don’t even know what we have paid you for your car.
Once the collection driver has seen the necessary paper work and had a brief look around the car, we will pay the agreed amount directly into your bank account. This will show in your account within 10 to 15 minutes, once you are happy it is there you can let the driver leave with your car.
If there is finance outstanding on your car will settle this in full on your behalf and pay any balance left over to you. If there is a shortfall you can pay this to us by debit or credit card.
This service is completely free, we do not have any hidden charges such as administration fees, Road Tax contribution fees or even a collection fee. Our final offer is exactly what you will be paid on completion. You really have nothing to lose trying Free Car Valuations.No Comments
How Do I Sell My Car Online Quickly?
Look no further than Free Car Valuations. Selling your car online to us is quick, easy, hassle and risk free. You are even paid before we take your car.
From the moment you visit our site, everything is clear and easy to use. You get your initial valuation within seconds of entering your vehicle registration number and mileage details. At this stage we don’t even ask for any contact details. You are free to use that valuation as you wish.
If you are searching for the valuation of a car you are considering buying then we strongly recommend you use our Car History Check service. Just so that you know the car you are buying is OK without any adverse history such as accident damage or stolen recovered.
If you are looking for a valuation for a car you are selling, then once you have your initial valuation you can click the “sell my car” button, complete a simple from and we’ll be in touch with our guaranteed offer.
If our offer to you is acceptable, we agree the deal and confirm everything in an email. We then arrange collection at a time that is convenient for yourself. The price we agree on the phone is what we will pay you on collection.
We use an independant company to collect the car, they are there to purely check the paper work and briefly check the car to make sure it hasn’t any obvious damage we were not aware of. Once everything has been confirmed, we make the payment directly into your bank account. This whole process normally takes aproximately 20 minutes and the funds are cleared and in your account before we take your car.
This make selling your car online to Free Car Valuations one of the most safe & secure methods there is.No Comments
The simple answer could easily be…it depends on who you ask!
The sarcastic answer would be…how long’s a piece of string…..twice the length from it’s middle if you want to get clever!
Getting a true valuation on your car can be very difficult, at the end of the day it is only worth what someone is willing to pay for it. It’s all well and good visiting various web sites and getting valuations from them, some will even charge you for this service. But how accurate is that valuation? They may give you a high valuation that makes you feel better but will they put their money where their mouth is and buy your car for what they claim it is worth?
Many sites claim to use industry experts and real time updates on car prices to give you the most accurate valuation for your car….great but anyone could claim this if they weren’t actually offering to buy the car. This may help you in deciding if a car you are buying is good value for money or if you are going to try and sell your car privately what you should ask for it.
If truth be told, the best way to get a value for your car is to either shop around and look at what similar cars are selling for….note this is different to what they may be advertised for. Just because someone is trying to sell a car for £5000 doesn’t mean it is worth that, in the end they may accept a much lower offer just to sell it. A great and probably more accurate option is to ask a trade buyer what they would be prepared to offer for your car.
The majority of trade buyers use the same guide (Glass’) and valuation data (CAP) to value cars, as well as using their experience they know those cars that can fetch “above book” prices and those that are “behind the book”. Factoring in things such as mileage adjustment, service history, colour, interior condition, additional extras and general condition of your car. With a trade buyer you know your valuation has come from someone who is willing to put their money where their mouth is and buy your car quickly and conveniently as many will often come to you to collect your car and not start renegotiating before concluding the sale.
Free Car Valuations is an upfront and honest trade buyer of all vehicles under 6 years old. Simply enter your registration number and mileage on our home page and your trade valuation will instantly appear. Even better fill in a few more details and we will make a genuine offer to buy your car, quickly, securely and hassle free.No Comments