cap hpi has developed a brand new instrument to cost non-obligatory extras on used autos extra precisely.
For the previous 12 months, the automobile valuations specialist has been conducting the analysis and gathering the info essential to help its new Choice Values instrument. The instrument is accessible without cost to present subscribers to the Valuation Wherever product.
The launch of the Choice Values instrument means the trade will now have the ability to worth the factory-fitted spec of the automobile, reasonably than simply the bottom specification.
Derren Martin, director of valuations at cap hpi, stated: “It’s designed particularly for sellers and remarketers who, to this point, might doubtlessly have been lacking out on hundreds depending on the worth of non-obligatory fitted extras comparable to a panoramic roof or alloy wheels. The quantity saved will differ for each automobile relying on the make and mannequin.
“Inaccurate values have existed within the trade for years with regards to non-obligatory extras, and plenty of sellers will little doubt have been factoring in their very own values. This goals to treatment the state of affairs by providing extra outlined steerage. With Choice Values we’re addressing this and making certain that our clients now not find yourself dropping out or attribute their very own estimated values.
“Our values will nonetheless present the worth of the bottom automobile, however now sellers can add within the non-obligatory extras to get a extra correct understanding of how a lot these ought to be price on the used market. Used at the side of our Cap Dwell each day product, this makes our valuations extra correct than ever.”
Beneath is a choice of the Choice Worth outcomes for a spread of used autos:
2017 Volkswagen Golf R 5dr with 25k miles
- Customary automotive with no choices: CAP Clear – £17,100, Retail – £18,995
- Choices added: Electrical sliding panoramic glass sunroof & 19″ Pretoria black Alloy wheels: CAP Clear – £17,800 Retail – £19,700
2019 RANGE ROVER EVOQUE R-Dynamic HSE 5dr Auto with 40k miles
- Customary automotive with no choices: CAP Clear – £22,350, Retail – £24,750
- Choices added: 21″ 5 cut up spoke gloss black alloy wheels & Adaptive Dynamics: CAP Clear – £22,850, Retail – £25,250
2019 FORD FIESTA 1.0T Titanium 5dr with 25k miles
- Customary automotive with no choices: CAP Clear – £9,400, Retail – £11,195
- Choices added: Fashion Pack with 17″ alloy wheel – Fiesta, B&O Premium audio system and openable panorama roof: CAP Clear – £9,875, Retail – £11,695
2021 AUDI This autumn E-TRON 125kW 35 55.52kWh S Line 5dr Auto with 10k miles
- Customary automotive with no choices: CAP Clear – £27,150, Retail – £31,250
- Choices added: Help Package deal Superior (inc Flat backside steering wheel), This autumn E-tron, Panoramic Glass Roof: CAP Clear – £28,300, Retail – £32,400
Martin added: “There’s a restrict to how a lot non-obligatory extras will add to the value of a used automobile alongside different essential elements such because the age of the automobile. Our goal is to make sure that sellers can now get an much more correct worth valuation for inventory they’re shopping for, taking in as half exchanges after which retailing. We’re additionally searching for buyer suggestions on different ways in which they want to eat this essential worth knowledge going ahead.”