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How accurate are used car valuations?
My last car was an Accord estate, sold in Sep 2015 having been owned by me from new in 2007. WeBuyAnyCar offered me £2650 whilst the Mazda dealer where I bought my current Mazda 6 from didn't want to buy the Accord as they couldn't offer more than £2650 and believed it to be worth much more than that.
I keep my cars well with careful running in at purchase (It does make a difference), regular servicing and DIY repairs to minor scratches, internal and external. I sold the Accord within one day for £3900, almost 50% more than the online valuations previously provided. I'm now looking to sell my 6 which, like the Honda, has suffered zero issues since I bought it. It is immaculate inside and out and is in much better condition than the one I've seen at a local garage, marked at £13,999.... plus mine has metallic paint and £800 optional stone leather interior.
According to the various websites, I should be looking at around £8k if selling privately, but this seems low for a car with typical mileage for its age, no-fault history and in immaculate condition other than for a handful of stone chips around the front - all touched in with Mazda touch-up.
Based on my experience with the Honda I should be seeking around £12,000 to £13,000 (50% more than online valuations) and this would still make it a bargain compared to the local garage offering, though clearly without the three-month warranty.
Anyone have similar experience and should we not place such faith in online values?
I keep my cars well with careful running in at purchase (It does make a difference), regular servicing and DIY repairs to minor scratches, internal and external. I sold the Accord within one day for £3900, almost 50% more than the online valuations previously provided. I'm now looking to sell my 6 which, like the Honda, has suffered zero issues since I bought it. It is immaculate inside and out and is in much better condition than the one I've seen at a local garage, marked at £13,999.... plus mine has metallic paint and £800 optional stone leather interior.
According to the various websites, I should be looking at around £8k if selling privately, but this seems low for a car with typical mileage for its age, no-fault history and in immaculate condition other than for a handful of stone chips around the front - all touched in with Mazda touch-up.
Based on my experience with the Honda I should be seeking around £12,000 to £13,000 (50% more than online valuations) and this would still make it a bargain compared to the local garage offering, though clearly without the three-month warranty.
Anyone have similar experience and should we not place such faith in online values?
Asked on 16 October 2023 by Mr Keith Turner Turner
Answered by
David Ross
Car valuations are only intended as a guide, and there will be variations in a vehicle based on its condition, regional variations and market demands. Ultimately if you are selling a car privately you have the option to set the price that you deem appropriate, and the right price for a vehicle is the one that both suits your expectations and attracts a buyer.
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