Parkers car prices, gospel?

zAndy1

Distinguished Member
I'm after a car for about £6k and have been browsing the websites of some local dealers. Comparing prices they're asking with the prices on the parkers website they seem to be after about £500 more than the parkers price (on average). Is the price on the parkers website a good indication of the value and therefore should I not pay more than that? I know there are going to be variances due to mileage and overall condition/spec but I am factoring those in when checking prices. Obviously the dealer is out to make a profit that's a given but say I was looking at a car from a car supermarket they're after £6500 for should I realistically be looking to pay about £6000 i.e. is a £500 discount off the forecourt price about right?

Cheers
 

Miss Chief

Well-known Member
Parkers can vary, especially due to locality. geenrally you can knock most dealers down a bit though. What cars are you interested in?
 

un1eash

Well-known Member
Cars that have sold is gospel. Parkers and glasses are just a good guide but can be out by as much as £1000. Depends on spec also as parkers just takes base models.

Our swift for example is Pearl White and holds a premium so is worth around £500 more then what parkers says.
 

Qactuar

Distinguished Member
You also have to consider what options the car has too. Many dealers value based on the standard trim levels and don't factor in added Bluetooth, upgraded alloys etc. Smaller dealers are potentially more likely to use these added extras as a selling point.

Put it this way - Ford didn't advertise the touch-screen satnav unit, Bluetooth, CD changer, leather seats or uprated alloys on my car. As such, it was priced the same as a Focus Titanium without those additional extras.

Go to a private sale, and these extras will be factored in when comparing like-for-like.

On top of that, some of the guides (Parkers/Glass's) don't recognise some of the available options, which will increase the perceived value of ownership to you and I. A quick go on Glass's and I see that some of my car options are not there for example.
 

lovegroova

Well-known Member
Most options make very little difference to 2nd hand prices.
 

FZR400RRSP

Banned
Most options make very little difference to 2nd hand prices.
I agree.
You can 'fully load' a car with gadgets, all it will do is make it more appealing in a potentially crowded marketplace.
I don't think you can charge more for it.
I certainly wouldn't pay more for them.
If a seller expected more money because he has leather/satnav, I'd laugh and walk away.
 

Qactuar

Distinguished Member
Most options make very little difference to 2nd hand prices.
When you're selling private though, I would disagree. If you paid for a £2000 satnav integrated screen unit etc, you wouldn't completely discount that fact when you come to part with the car.

But I agree when it comes to dealers - they generally don't give two hoots.
 

FZR400RRSP

Banned
When you're selling private though, I would disagree. If you paid for a £2000 satnav integrated screen unit etc, you wouldn't completely discount that fact when you come to part with the car.
As a seller, you may not.
As a buyer, you wouldn't get a penny extra from me.
Not my problem the seller spent £2000 on it, is it?
It might make me view your car before I view another one, but that's where it ends.
 

Kebabhead

Well-known Member
As a seller, you may not.
As a buyer, you wouldn't get a penny extra from me.
Not my problem the seller spent £2000 on it, is it?
It might make me view your car before I view another one, but that's where it ends.
+1

Might make the car more attractive to buy but doesn't add value bit like full dealer service history
 

Qactuar

Distinguished Member
As a seller, you may not.
As a buyer, you wouldn't get a penny extra from me.
Not my problem the seller spent £2000 on it, is it?
It might make me view your car before I view another one, but that's where it ends.
Where would you draw the line though? If it has a specification that is sought after for example?

Don't get me wrong - I'm not trying to say I'll get more for mine for example (I didn't pay for the extras of course), but you would expect a premium trim of a car to fetch more cash than the entry level, no?
 

Qactuar

Distinguished Member
+1

Might make the car more attractive to buy but doesn't add value bit like full dealer service history
Ah, don't mistake me for believing these things add value; rather they maintain it via depreciation year on year.

My experience buying privately for my Fiesta 8 years ago when there were huge numbers on sale, that similar miles, history and age were easy to find, but that prices varied like mad depending on the specification.

All were 1.25 for example, but those with options always commanded a premium. I've never sold privately (never will) so haven't really had to try deriving a price/value of a car to sell, but that's the basis I'm working on.
 

pwilky

Banned
Parkers and Glasses are what they say they are - namely a 'guide'!

I would say the latter is probably more accurate.

Ultimately, "gospel" car valuations are what somebody is prepared to pay!
 

imightbewrong

Distinguished Member
If you view two cars that are the same price, one has leather and one doesn't, you would buy the leather one no? (if you wanted leather).

Therefore, you might have bought the other one if it was cheaper.

Therefore, that difference was effectively added to the price of the leather.

Am I wrong? :)
 

FZR400RRSP

Banned
but you would expect a premium trim of a car to fetch more cash than the entry level, no?
Of course.
But I'm talking about added extras on top of a certain spec.
For example, let's say I'm looking at a used S-line spec Audi.
I won't pay a bean extra for S-line + Satnav.
I'm happy with S-line spec, the fact the seller has fitted satnav is of no interest to me.
I'll pay normal S-line money and that's that.
 
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Qactuar

Distinguished Member
if leather was standard spec for the car then yes if it was added as an option then no

Guides such as Parker as based on factory spec not optional extras added on at the time of purchase
Though if you use the online valuation, there is always a section that asks you to tick the boxes for options available. Glass's in fact, tells you how much this option cost at the time of order.

Of course.
But I'm talking about added extras on top of a certain spec.
For example, let's say I'm looking at a used S-line spec Audi.
I won't pay a bean extra for S-line + Satnav.
If you're not looking for satnav, then no; but if you want it and it's not that common, would you be prepared to pay a premium through the slightly stronger depreciation? (on the assumption of say, 30% on book value year on year depreciation; £1000 more on the purchase would be roughly £300 premium after 3 years for a £25k car versus £26k with the option)

It's actually an interesting discussion to be honest. I decide in advance what I want from a car and go and find it. But I do wonder if people in general (not all) see something similar, but with a few upgrades and are willing to pay more as a result of an up-sell?
 

Kebabhead

Well-known Member
Though if you use the online valuation, there is always a section that asks you to tick the boxes for options available. Glass's in fact, tells you how much this option cost at the time of order.


?
How can you possibly put a value on an optional extra say you paid £2k for a swanky in built Sat Nav and sold the car 4 years later

As has already been said these prices are guidlines and if Glasses said it would be worth an additional £500 to the price of the car doesn't mean that you will get it
 

FZR400RRSP

Banned
If you're not looking for satnav, then no; but if you want it and it's not that common, would you be prepared to pay a premium through the slightly stronger depreciation?
I suppose the answer to that would have to be yes.
But added extras aren't something I've ever sought out.
I usually decide on a spec level I'm happy with and go for a standard one of those.
If the owner has fitted extras, great - But I'm not paying more
If the owner wants more - No thanks, I'll go find another standard one.
 

Qactuar

Distinguished Member
How can you possibly put a value on an optional extra say you paid £2k for a swanky in built Sat Nav and sold the car 4 years later

As has already been said these prices are guidlines and if Glasses said it would be worth an additional £500 to the price of the car doesn't mean that you will get it
Clearly, that's not what I am saying.

I'm saying that if a car depreciates at a given amount (as most do), and that the initial value of the car is higher to begin with (due to options added) then you would expect the residual to be slightly higher than the same car without those options after a given amount of time.

The longer you own the car, the smaller this residual difference will be in real terms of course.

I'm not saying that £500 heated seat options add on £500 to the value when you come to sell, because that is quite absurd really.

The Glass's site asks you to list the options fitted and adjusts the current value of the car accordingly. How they decide that adjustment, I do not know.

Guides are guides. You can't rely on them, I know this. Much like anything really. Just because I say a car is good, doesn't mean that it will be. There are many variables that affect used car values at a given time.

I suppose the answer to that would have to be yes.
But added extras aren't something I've ever sought out.
I usually decide on a spec level I'm happy with and go for a standard one of those.
If the owner has fitted extras, great - But I'm not paying more
If the owner wants more - No thanks, I'll go find another standard one.
That's what I thought :)

I wouldn't set out and do the same either, but if I knew that some revisions had X or Y option that I was hankering for, then I would expect to pay a bit more for said option - especially where uncommon.

Given that the example in question seems to be satnav (hot topic!) I don't think many would care to be honest, given that a pocket unit is so cheap.

However, were that 'rare' option a fully-functioning iPod interface or maybe something that can't really be fitted easily after (i.e. cruise control for most cars is not economically viable for a dealer upgrade), and it was something a bit more functional, then I believe that if it is sought after, it'll command a premium.
 

FZR400RRSP

Banned
I'm not saying that £500 heated seat options add on £500 to the value when you come to sell, because that is quite absurd really.
You'd be surprised how many think that is or should be the case though.
They seem to think the car depreciates, but added extras don't.
 

zAndy1

Distinguished Member

Qactuar

Distinguished Member
You'd be surprised how many think that is or should be the case though.
They seem to think the car depreciates, but added extras don't.
That would, for example, increase the net 'value' of my car by over £4k as a result of the extras that Ford put on (it was a salesman's "demo" unit that was never used to demo). :laugh:
 

Epicurus

Well-known Member
I agree.
You can 'fully load' a car with gadgets, all it will do is make it more appealing in a potentially crowded marketplace.
I don't think you can charge more for it.
I certainly wouldn't pay more for them.
If a seller expected more money because he has leather/satnav, I'd laugh and walk away.
While this is mostly true, I've found used Porsche prices to be heavily dependent on whether your car has the PCM nav unit even though it's expensive and pretty awful. But the interiors can be bland without it.

But with Parkers it's generally accurate to around 5% give or take.
 

KelvinS1965

Distinguished Member
I understand that certain cars are worth less if they don't have certain 'expected' options such as leather on a Jag and some colours that aren't sought after such as 'hearing aid beige' have to be sold cheaper to attract interest.

There is always a disparity between the seller and the buyer, but I've lost count of the number of times I've heard comments like " The garage down the road is selling a similar car to mine for £x but mines worth more because it's in better condition/got more options/just got a new exhaust or some other consumable part that really has no bearing on the price (delete as appropriate" :)). If you have the choice of two otherwise identical cars (which in itself is not that likely IMHO), then if one has some option that is useful to you, then it may be preferable, but maybe not worth paying much, if any, more for it IMHO.

PS. FWIW I think Parkers should be taken with a large pinch of salt as I've never found it terribly accurate in terms of what I had to pay for a used car or what I've been able to sell one for. Even if you take note of the calculation tables they have to correct for mileage (up or down).
 
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Dave Brand

Active Member
PS. FWIW I think Parkers should be taken with a large pinch of salt as I've never found it terribly accurate in terms of what I had to pay for a used car or what I've been able to sell one for. Even if you take note of the calculation tables they have to correct for mileage (up or down).
Parker's trade-in price for my old Alfa 147 was £3,000 - the dealer I bought my DS3 from "only" gave me £4,500!
 

kayzee

Active Member
Strange to hear some opinions on extras... I would personally pay more for something sort after like a leather option in a car.

Anyway, regarding Parkers I don't go by them that much, and neither to the dealers I've spoke to. Most blobeyes STI's are going for around £8k+ but I was lucky enough to pay just £7k for mine, Parkers put them at £5k...
 

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