Value Markers

[umesh 336]

Value markers on AT / Car Gurus

This could be controversial but just curious to see what everyone thinks, value markers I believe are misleading but that’s for another day!

Some of you price cars on these platforms to get the markers BUT if the markers say ‘below market value’ surely these dealers are giving away ‘profit’ why sell below market value (of Couse we don’t always know the full story of each car hence I disagree with the markers) we’ve all seen cars sometime thousands ‘below market value’!  

[Mark101 536]

I hate the markers, they don’t consider or differentiate for low owners, history, condition etc.  No allowance for those of us who do it properly vs. The quick wash and sell brigade.

Worse still is CarGurus who state time in stock and price changes - that really does piss me off.

[Nick M.K. 574]

1 minute ago, Mark101 said:

Worse still is CarGurus who state time in stock and price changes - that really does piss me off.

I hate CarGurus but like AT. I especially like the fact that they don't display Above Market like CarGurus does. 

I actively use HPI Spec Check to increase the "marker" value of my stock (something I wasn't doing before) and as a result my sales prices and my margins have increased slightly!

[trade vet 697]

36 minutes ago, umesh said:

Value markers on AT / Car Gurus

This could be controversial but just curious to see what everyone thinks, value markers I believe are misleading but that’s for another day!

Some of you price cars on these platforms to get the markers BUT if the markers say ‘below market value’ surely these dealers are giving away ‘profit’ why sell below market value (of Couse we don’t always know the full story of each car hence I disagree with the markers) we’ve all seen cars sometime thousands ‘below market value’!  

It’s not fair,it’s just another hurdle in the obstacle course.Theft of prime chucky punters is even worse.

15 minutes ago, Nick M.K. said:

I hate CarGurus but like AT. I especially like the fact that they don't display Above Market like CarGurus does. 

I actively use HPI Spec Check to increase the "marker" value of my stock (something I wasn't doing before) and as a result my sales prices and my margins have increased slightly!

Out of interest Nick how much are they charging for spec check and is it included in your overall deal.They told me it was included but it wasn’t,infact they told me a few things and charged more despite us having another account with them from many years ago.

[Nick M.K. 574]

£2.90 per car. I uploaded one here as an example which increased the value of the 6 year old Merc ML by approx £5000. 

 

 

[grant8064 219]

45 minutes ago, Mark101 said:

I hate the markers, they don’t consider or differentiate for low owners, history, condition etc.  No allowance for those of us who do it properly vs. The quick wash and sell brigade.

+1

Exactly this.

[Arfur Dealy 823]

19 minutes ago, Nick M.K. said:

£2.90 per car. I uploaded one here as an example which increased the value of the 6 year old Merc ML by approx £5000. 

 

 

How does HPI know the specific spec of your vehicle?

[Nick M.K. 574]

They buy the information from the dealership / manufacturer's order systems which are completed at the time of ordering the new car. If the car is not built to order (many Korean or Jap cars for example) the dealerships complete that information when they first receive the car. The check is very accurate on German and UK built cars, less so on Korean and Japanese for that reason.

[trade vet 697]

Thank you Nick,they are charging us £3.21 on our new and larger account but as an extra when they said it was included...........

......game on.

[Nick M.K. 574]

1 hour ago, Mark101 said:

I hate the markers, they don’t consider or differentiate for low owners

I personally don't think low owners should make the Retail price of a car higher. And neither should the gender of the last owner.

I've sold with 1 owner and I've sold with 6 owners. While one may be more desirable than the other and may sell faster (or easier) I would price them on condition first, then history, then spec. 

One of the worst cars I ever sold (it wasn't very bad but it should've been nicer for that age / miles) was a white Mini Cooper S with one lady doctor owner from new. It was absolutely filthy when I got it and required 3 times the usual amount of prep...

 

[trade vet 697]

Spec check is good.We bought a Convertible 3 series at the door lately for top money and it did have a lot of extras.Like Nick’s ML,we did a spec check and it had 14 grand of extras,does help the job.

[CCC 31]

51 minutes ago, Nick M.K. said:

£2.90 per car. I uploaded one here as an example which increased the value of the 6 year old Merc ML by approx £5000. 

 

 

We’ve got that too, though the cheaper alternative is just to use google to get a brochure for the vehicle in question at the time of production.

It also helps sell the car when you get viewers anyway as you can point out what yours has (and benefits) vs other cars they’re considering (and also what the car would cost new, with the options added).

Not that I’d condone this, but adding in standard features for the model in question as extras might help the AT value markers, as well as ensuring that all features are clearly listed.

[Mark101 536]

20 minutes ago, Nick M.K. said:

I personally don't think low owners should make the Retail price of a car higher. 

I agree that a 1 owner car who’s owner’s enthusiasm for the car has long since past may not be in as good a condition as a 3+ owner.  But, I disagree that a 1 owner car is not worth more - purely based on people’s perception of how desirable and well cared for a 1 owner car must be (in their eyes).

Same applies to a 20k mile city car vs. A 60k mile long distance commuter car - I know which one will have a better clutch, gearbox and running gear.

 

[Nick M.K. 574]

10 minutes ago, Mark101 said:

But, I disagree that a 1 owner car is not worth more - purely based on people’s perception of how desirable and well cared for a 1 owner car must be (in their eyes).

 

Considering how often my buyers NEVER ask me for the number of previous owners I have to respectfully agree to disagree. I don't display number plates in my ads and don't give registrations over the phone so it's not easy for them to secretly check. A lot of people just don't care. Which means that you can not get a lot more money for the 1 owner stuff. It will just sit there longer, slightly dearer than the 4 owner cars until you find the one buyer willing to pay more.

And another point: Our house is 1 owner. Is it worth more than other similar houses on the street ?

[Mark101 536]

9 minutes ago, Nick M.K. said:

And another point: Our house is 1 owner. Is it worth more than other similar houses on the street ?

You can’t compare houses with cars for a thousand reasons.  In fact, I prefer a multi owner house because they generally make continual improvements in line with modernisation and fashion.

Same may be said about cars but you can’t extend or alter it in quite the same way.

My counter argument (to punters) for multi owner cars is that several owners have each loved and maintained that car during the “honeymoon” period whereas single owners lose enthusiasm for the car - it becomes just a car and maintenance and general upkeep becomes nothing but a chore and a financial vacuum. Usually works but give me a load of 1 owner stuff because people do still prefer that.

 

[Nick M.K. 574]

Just now, Mark101 said:

My counter argument (to punters) for multi owner cars is that several owners have each loved and maintained that car during the “honeymoon” period whereas single owners lose enthusiasm for the car - it becomes just a car and maintenance and general upkeep becomes nothing but a chore and a financial vacuum.

It is as if I hear myself speak. But not just the owners. If a car passes through several dealers like us that like to prep it's revitalized each time.

[Mark101 536]

6 minutes ago, Nick M.K. said:

It is as if I hear myself speak. But not just the owners. If a car passes through several dealers like us that like to prep it's revitalized each time.

Yes, I hadn’t considered that until someone mentioned it last week.  I am adding this snippet to my speel.

I still envy your photography skills....

[umesh 336]

2 hours ago, Nick M.K. said:

I hate CarGurus but like AT. I especially like the fact that they don't display Above Market like CarGurus does. 

I actively use HPI Spec Check to increase the "marker" value of my stock (something I wasn't doing before) and as a result my sales prices and my margins have increased slightly!

Been using spec Check for probably 3 years best thing I ever found out, helped me make more money , forget the price markers and pricing to be cheapest, find the full spec shout about it and you can get a lot more .. as Nik says with his example. 

Its not always 100% on every car but a massive help with most cars. 

For sake of few ££££ you could make hundreds if not thousands. 

[EPV 631]

Shhhh.....

[Contracts 68]

Spec check is handy but don’t trust it for Land Rover / Range Rover as it often adds and misses items.  

Also on newer BMW’s it lists the packs by individual item cost which is handy but I think newer buyers search for the actual pack names e.g comfort pack.

4 hours ago, umesh said:

Value markers on AT / Car Gurus

This could be controversial but just curious to see what everyone thinks, value markers I believe are misleading but that’s for another day!

Some of you price cars on these platforms to get the markers BUT if the markers say ‘below market value’ surely these dealers are giving away ‘profit’ why sell below market value (of Couse we don’t always know the full story of each car hence I disagree with the markers) we’ve all seen cars sometime thousands ‘below market value’!  

One of the traders who buys from us only values cars using the Autotrader dealer app.  It sometimes works in our favour as we say see a car at £7k trade A/T list it a lot more.  I also believe he prices his cars in line with Autotrader so they show as “Great Price” for customers.

 

[L-P 15]

32 minutes ago, Contracts said:

Spec check is handy but don’t trust it for Land Rover / Range Rover as it often adds and misses items.

Sign up for Topix as an independent operator. You can get full spec for JLR products with the chassis number. 

[Frankieola 22]

2 minutes ago, L-P said:

Sign up for Topix as an independent operator. You can get full spec for JLR products with the chassis number. 

How would you do this? Not heard of Topix, sorry. 

[L-P 15]

@Frankieola

https://topix.landrover.jlrext.com 

The link to register is above. You will not get full functionality as an Independent, but you can get full Spec for Jaguar & Land Rover here. Let me know if you have any problems and I can help.

Also useful is https://osh.landrover.com/

This will get you any Online Service History held by Jaguar or Land Rover by Chassis 

[Contracts 68]

Thanks, will give it a try