MyWheels.ie have teamed up with motor industry experts Motor Trade Publishers to provide vehicle valuations on the vehicle reports. Motor Trade Publishers are responsible for producing the industry’s most respected trade valuation tool “The Car Sales Guide”, and have been doing so since 1967. Their experience and expertise best equips them with the required knowledge to provide you with the most accurate valuations for your vehicle. Their values are used by the Revenue Commissioners, motor dealers, insurance companies, finance houses, fleet companies and auctioneers across the country. Motor Trade Publishers carry out extensive market research on a weekly basis and their values are updated monthly to ensure valuations are constantly kept up to date by Ireland’s most prominent motor industry analysts.
Why provide a range and not an exact value?
MyWheels.ie and Motor Trade Publishers recognise that no two cars are the same and therefore values will differ depending on a number of mitigating factors. Everything from mileage to varying levels of specification, seller type, condition and optional extras all need to be considered when valuing a used car. Even geographical locations have an influence on residual values. For these reasons a valuation range provides a far broader spectrum of the likely selling prices of a particular vehicle and gives the buyer a better indication of the type of deal being offered.
What do the values mean?
The values should be considered as a “From/To” range rather than a “Low/High” value spread. The figures themselves are the likely selling prices of a vehicle from a dealership i.e. the final purchase price of the vehicle. They do not represent asking prices, trade in allowances, private sales or any other subjective values.
Why are some dealer values higher or lower than the valuation range?
Dealer values are directly influenced not just by the exact model for sale but the circumstances in which it is being sold. For instance, a vehicle with a full service history, low mileage, high specification retailing from a main dealer offering warranty may be entitled to attract a higher price tag while the opposite can result in drastically lower values. Again, the range has been designed to capture the broadest number of vehicles in any given model purchased from a motor dealer.
Is mileage taken into consideration?
Motor Trade Publishers’ values are updated monthly and take into consideration the average mileage of vehicles at a particular point in the year. The following table* should serve as a workable guide but is subject to change depending on market trends e.g. the rising popularity of diesel vehicles in urban centres results in a reduced average annual mileage for some diesel models.
*As per the Car Sales Guide figures in February 2012.
|Average Mileage (km’s)|
|Year of Manufacture||Petrol Model||Diesel Model|
The values for vehicles bearing slightly higher or lower odometer readings from those stated should be captured by the value range provided in the vehicle report. Where a vehicle’s odometer readings differs dramatically, customer’s should be cognizant of the impact this necessarily places on the true selling price of the vehicle and readjust the value in either direction depending on the circumstances.