My mate says that car is worth £x,xxx! He may well be spot on, but why leave it to chance. CAP provides traders and private buyers with excellent valuation data. Understanding exactly what the data means is crucial to you using it to your best advantage.
CAP offers traders 4 valuation points. Clean, Average and Below. As a private seller, these prices are what you could expect to receive from a dealer for your car. As a trader these are the prices you would expect to pay for a car from auction or from a private seller.
What does “CAP Clean” mean?
It doesn’t mean that you’ve just washed it! Remember many things such as not having the log book, service history, a spare key, modifications etc can all alter the trade value of a car.
What does “CAP Average” mean?
As a trader the best deals can often be made around CAP average. Buying a car in the price bracket usually means you only have a few jobs to do on the car and it gives you more room to make a better profit. Many dealers look to buy at this price point.
What does “CAP Below” mean?
CAP Below is usually for cars in a poor condition or that have many issues such as no service history, no spare key, damage to the car body work or in poor mechanical condition
What you have to bear in mind with all the above is that at auction you may well buy a car that is in excellent condition and marked as CAP Clean but it goes for CAP Below price. Its all down to how many people are interested in that car. Of course it may not sell (it may be sold provisionally) if it doesn’t fetch the expected price, but then again you may grab a bargain and get the deal of the day. I have personally bought many CAP Clean cars for CAP average and below prices.
What does “CAP Retail” mean?
It means what you as a dealer can expect to sell a car for. It also means what you as a private buyer could expect to pay for a car. Many factors are taken into consideration such as the condition of the car and the part of the country you are looking to buy a car in. CAP also offer a Private Sale Price. This advises private sellers what they can expect to see there car for on the private used car seller market.
If you want to see what cars go for at auction, check out this blog post.
You might be interested in coming on my Car Auction Buyers Course orWindscreen Chip Repair Course and learn about these and many more things you should be looking for when buying a car.
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