Buyer's Guides
Valuation types
Online valuations or book valuations will usually give you four different values for each car. Here we explain what each of those mean:
Trade-in
The trade-in price is the valuation a dealer gives for your car based on you using the figure he gives to help pay for a car you will buy from that dealer.
This price will be less than the car will sell for either from a dealer or privately as the dealer will incur costs to prepare the car for sale.
Dealer
The dealer price is what a dealer charges for a car. For used cars, this will typically be more than a private seller will charge, but a dealer is likely to have cars of good quality and a warranty will be offered. As a buyer, you have greater legal protection buying from a dealer if there is a problem with the car.
Trade-in
The trade-in price is the valuation a dealer gives for your car based on you using the figure he gives to help pay for a car you will buy from that dealer.
This price will be less than the car will sell for either from a dealer or privately as the dealer will incur costs to prepare the car for sale.
Dealer
The dealer price is what a dealer charges for a car. For used cars, this will typically be more than a private seller will charge, but a dealer is likely to have cars of good quality and a warranty will be offered. As a buyer, you have greater legal protection buying from a dealer if there is a problem with the car.
Private
Values for cars sold privately are generally lower than those asked by a dealer for a car of the same age, mileage and condition. It's a good way to save some cash as a buyer, and the seller will more than likely get more money for their car than using it as a trade-in.
Auction
An auction is the quickest way to sell a car but it will realise the lowest price. Most buyers at an auction are from the motor trade and they will not spend a single penny more than they have to. As a buyer it can be a good way to bag a bargain, but there is less comeback than buying from dealer if there is a problem with the car.
Values for cars sold privately are generally lower than those asked by a dealer for a car of the same age, mileage and condition. It's a good way to save some cash as a buyer, and the seller will more than likely get more money for their car than using it as a trade-in.
Auction
An auction is the quickest way to sell a car but it will realise the lowest price. Most buyers at an auction are from the motor trade and they will not spend a single penny more than they have to. As a buyer it can be a good way to bag a bargain, but there is less comeback than buying from dealer if there is a problem with the car.