Valuation tool / CAP v Glasses

[Jimbo 11]

Hi guys

Spent a couple of months researching which tool to use. They vary so much between these supposidly big 2. 

I will probably be pricing up maybe 20 cars a month via clients offering part ex cars plus when i go to garages to look at the trade ins they have available. 

Of those 30 cars i'll probably be buying about 5-10 a month so i didnt really want the hpi cap package which means you have to hpi each one - i'll only hpi the 5-10 i actually buy. 

Glasses offer £620 plus vat for unlimited valuations. Cap now also do a £620 "valuations anywhere package for unlimited valuations but on their one you have to pay it all at once. 

Is it true that cap prices are more accurate?

would the best route to go for me be the Cap valuations at £620 upfront then just buy hpi's as/when needed rather than sign up for cap hpi and be spending around £140 a month?!

to run the business properly i personally cant just use autotrader prices to gauge part ex and retail prices at the moment

[trade vet 702]

Hi Jimbo,you are really new to this job ! If you think you can source quality stuff out of franchised dealers you may be mistaken.Those days are long gone.I can only think of one trader still buying out of main dealers,rumour has it,it costs an extra £100 cash per car !,back in the day we used to pay £5.As for Glasses,Cap etc,if you are going to be a retailer,you don't need them,just follow the market.The pros don't use guides anymore ! 

[grant8064 219]

Hi Jimbo,

I use Glass's guide, only the mobile app though. It's a handy tool for part ex appraisals when a customer is overly optimistic about their vehicle worth. Gives a bit of back up to what i'm telling them sometimes. It's only a guide though, there is so much more than what the book says when considering values that only experience can give you.

As for retail values...it's not something I use a guide for. You get to know what something retails at over time.

I've never used CAP so cannot comment but the Glass Mobile App is pretty decent for quick, basic valuations IMO, I wouldn't want to base my prices off it alone though.

[Jimbo 11]

Thanks guys yes fairly new and appreciate knowledge over time is key

 

how much is the basic glasses app?

 

do most dealers buy from auctions then if not through bigger dealers?

[Stephen 21]

Hi

I'm very new also you aren't going to be able to bigger dealers and buy cars, people probably on here will have been doing it for years, so why would they upset them and sell to you?

One trader I know that's buying from bigger dealers could spend 50/75K in a day, can you do that? Also he will keep what he wants and rest will be traded again by the end of the day. 

Autions Good luck with that unless your a mechanic or very knowledgable you will end up getting bid up and paying top fees not what traders pay. Also no doubt there will be issues with the cars

[Mojo121 229]

Most places already have trusted relationships with traders who they sell part-exs to; you'll get a pretty brutal cold shoulder from most if you turn up asking to make money off them. The car industry is full of complete sharks, if someone is trying to be your friend most of the time they're trying to con you. Be your own man, expect no favours and work hard. Best of luck to you.

 

In terms of valuations - do you own homework. CAP & Glass mean nothing these days. Glasses less so

[Tom 164]

https://carvaluation.confused.com/?_ga=1.46995233.707954275.1393326675

Use this tool above to free valuations it uses a mix of cap and glass's. 

[Jimbo 11]

4 hours ago, Stephen said:

Hi

I'm very new also you aren't going to be able to bigger dealers and buy cars, people probably on here will have been doing it for years, so why would they upset them and sell to you?

One trader I know that's buying from bigger dealers could spend 50/75K in a day, can you do that? Also he will keep what he wants and rest will be traded again by the end of the day. 

Autions Good luck with that unless your a mechanic or very knowledgable you will end up getting bid up and paying top fees not what traders pay. Also no doubt there will be issues with the cars

Where do most source their cars from in thatcase mate

3 hours ago, Tom said:

https://carvaluation.confused.com/?_ga=1.46995233.707954275.1393326675

Use this tool above to free valuations it uses a mix of cap and glass's. 

Is this really accurate at all? Apparently all price guides online like autotrader, parkers etc etc are completely useless from what i read no?

[justina3 518]

A lot depends on what type of cars your buying if its newish kit with lots of options then there handy if your a bread and butter guy like me there not worth the paper there written on.

 

[Tom 164]

1 hour ago, Jimbo said:

Where do most source their cars from in thatcase mate

Is this really accurate at all? Apparently all price guides online like autotrader, parkers etc etc are completely useless from what i read no?

its FREE and yes its fairly accurate but its all guides anyway. Parkers is not for the motor trade.....

[andymc1973 199]

most of the guides are exactly that, its experience that prices car, nothing less

[Jimbo 11]

Cheers guys

think i may have to bite the bullet and go for a year of cap and see how my general pricing knowledge is in a years time to see if i still want to fork out for it

i think it'll definitely help to know if im buying cars at the right trade price to leave enough profit in the retail price

all well and good looking at Autotrader prices but they also vary a lot and just because a car is £5k on autotrader still doesnt mean it will actually sell for that

[XFS 70]

I did subscribe to CAP, but to be honest it's pretty irrelevant as a lot or in fact most of the valuations are no real reflection on the current market, so I no longer pay for any guides. I felt it was in fact detrimental and in certain respects clouding my judgement or inhibiting me.

The way I value a car whether it is a stock vehicle or a trade in is to establish my selling price using experience and the current market as a guide and then base what I am prepared to pay based on condition and the profit I want to make.

[It's me 615]

1 hour ago, XFS said:

 

The way I value a car whether it is a stock vehicle or a trade in is to establish my selling price using experience and the current market as a guide and then base what I am prepared to pay based on condition and the profit I want to make.

Me too

i might miss a car but i dont leg myself either

plus if you are looking at something left bat its always good to look at past history of sales of the things via internet in case you are buying a landmark unknowingly

[BHM 994]

On 19/08/2017 at 10:38 AM, XFS said:

The way I value a car whether it is a stock vehicle or a trade in is to establish my selling price using experience and the current market as a guide and then base what I am prepared to pay based on condition and the profit I want to make.

Snap. 

[Cornish Guy 45]

The guides are about as accurate as the weather forecasts!

[Jimbo 11]

Would u say CAP is worthwile for year 1 to get to grips with market conditions etc?

£620 for the year plus vat and then maybe go without the following year

[Max Branning 149]

5 hours ago, Jimbo said:

Would u say CAP is worthwile for year 1 to get to grips with market conditions etc?

£620 for the year plus vat and then maybe go without the following year

Sign up for a HPI trade account, you can then do price checks with either CAP/Glasses or both at a small charge each search. 

You do not have to do a full hpi check in order to do a price check. you can do a basic vehicle hpi search which costs around 40p and then i think its around 40p again for CAP valuation.

[Jimbo 11]

4 minutes ago, Max Branning said:

Sign up for a HPI trade account, you can then do price checks with either CAP/Glasses or both at a small charge each search. 

You do not have to do a full hpi check in order to do a price check. you can do a basic vehicle hpi search which costs around 40p and then i think its around 40p again for CAP valuation.

Thanks i asked hpi about an account but you habe to take a min of 5 hpi / valuations a month at around £40 a month  plus £75 setup fee

but each valuation you do has to also do an hpi check which is overkill just for pricing a potential part ex

then each hpi check over 5 cars is £4.20 o top each

[Max Branning 149]

1 hour ago, Jimbo said:

Thanks i asked hpi about an account but you habe to take a min of 5 hpi / valuations a month at around £40 a month  plus £75 setup fee

but each valuation you do has to also do an hpi check which is overkill just for pricing a potential part ex

then each hpi check over 5 cars is £4.20 o top each

I would talk to them and tell them you will be doing maybe 20 price checks and a lot of HPI checks and see what they can offer you.

I only pay around 40p for a basic vehicle check and then another 40p or so for each valuation and have been doing this for years? 

[Jimbo 11]

7 minutes ago, Max Branning said:

I would talk to them and tell them you will be doing maybe 20 price checks and a lot of HPI checks and see what they can offer you.

I only pay around 40p for a basic vehicle check and then another 40p or so for each valuation and have been doing this for years? 

Thanks. I have been emaling them constantly and best offered was £40 a month for 5 hpis with valutations or £72 for 10hpis with valutions

plus a £72 setup fee

neither sounded like good value to be honest

can i ask what "plan" you're on with those rates and if its a contract setup

[Max Branning 149]

11 minutes ago, Jimbo said:

Thanks. I have been emaling them constantly and best offered was £40 a month for 5 hpis with valutations or £72 for 10hpis with valutions

plus a £72 setup fee

neither sounded like good value to be honest

can i ask what "plan" you're on with those rates and if its a contract setup

Im not on a plan as far as i know ! 

When i originally opened an account with them these were the prices quoted and have been the same ever since, they may have increased prices slightly i am not sure on exact figures as they do not provide a statement for some reason.

I do not pay more than around £1 for a basic ID check  + CAP valuation. Yes it jumps to around £4 for full HPI check, but i have no minimum requirements at all.

Like i said speak to them and see what they can do, The prices you have been quoted seem a bit extortionate.

Maybe some other traders can confirm what deal they are on with HPI...?

[Arfur Dealy 823]

20 hours ago, BHM said:

Snap. 

Snap again. 

[MrC 142]

eBay, Autotrader, Gumtree that's the guide i use. See what kind of money like for like cars are advertised at and go for the medium.

That's the true market reflection. 

[BHM 994]

On 21/08/2017 at 7:46 AM, MrC said:

eBay, Autotrader, Gumtree that's the guide i use. See what kind of money like for like cars are advertised at and go for the medium.

That's the true market reflection. 

Agreed - yet more common sense EXCEPT I don't waste my time with Gumtree as 99% are scum and no serious buyer quotes that website - even amongst ebayers it's seen as "for sh***"!