€
£UK €ROI
  • Home
  • About
  • News
  • Contact
  • Help Centre
Apply now Login
Close
Forgotten password? Back to login
Login
€
£UK €ROI
NextGear Capital
  • What we do
  • How it works
  • Where to buy
Customer Service 0818 000 092 Request a callback
Request a callback
Apply now
  • What we do
  • How it works
  • Where to buy
  • Home
  • About
  • News
  • Contact
  • Help Centre
News
What's that vehicle worth? - NextGear Capital Ireland

BLOG: What's that vehicle worth?

2nd April 2015

This should be a relatively simple, easy to answer question and yet there are a host of industry guides aimed at providing consistent vehicle values.  Ask anybody involved in buying and selling used vehicles and you’ll find that there are immediate qualifications on the accuracy of the values that are provided. Even better, ask two people the same question and a debate will unravel. Some description

In the case of trade source purchases, like everyone else we start with the same industry guides, Glass’s Guide and CAP Black Book and then we begin the adjustments; all of which essentially are aimed at assessing how quickly (or not) the vehicle can be sold. The more likely it is a vehicle can be sold quickly on a forecourt, the greater appeal it has and the higher the value in comparison with the standard industry book price.

Here’s a few examples of adjustments:

  • A popular colour may add value, whereas a niche colour may mean the vehicle is of lower value as it limits saleability. How about a baby blue VW Beetle anyone?
  • Factory fitted options are especially important on prestigious marques but less so on base models, the automatic option on a small car can turn buyers off.
  • Electric cars might be the future, however are more difficult to shift.
  • Higher than average mileages are for bargain hunters.

Finally there are those oddball vehicles that aren’t listed in any guides - ‘there’s only 4 of those in the country’. I drive one of those, it’s not even listed in my CAP Black Book… so what’s my car worth? I do actually know the answer to that – less than I think!

Here at NextGear Capital UK Ltd, we’ve got an easy solution to calculating vehicle values; you can stock the vehicle for 100% of the price you paid for it at our partner auctions. When it comes to adding trade source purchases, we do still have to value the vehicles which means you can trust that you’re not paying over the odds.

There are many tools to help identify a vehicle’s value but ultimately what a vehicle is worth is what our customers are willing to pay for it! 

Thanks for reading!

Helen Gorrell,

Risk Manager

 

Previous: On the road to blog success...               

Next: How mobile friendly is your website?

Become a NextGear Capital dealer

How it works Apply now
  • Terms of Use
  • Privacy Policy
  • Cookie Policy
  • Modern Slavery Statement
Cox Automotive

A smoother ride for you…

We use cookies to give you the best online experience. By using our website you agree to our use of cookies in accordance with our cookie policy.

Okay, thanks