Are the price guides accurate?

jds686868 · 13 Jul 2011

Hi folks, what is the view about the various car price guides (parkers)?
Are they reasonably accurate?
I am looking to buy a 997 and just wanted to get a guide on what the actual buy price should be compared to the asking price.
Cheers
John

T8 · 13 Jul 2011

jds686868 said:
Hi folks, what is the view about the various car price guides (parkers)?
Are they reasonably accurate?
I am looking to buy a 997 and just wanted to get a guide on what the actual buy price should be compared to the asking price.
Cheers
John

If you're selling the Parkers guides give you an idea of how little the trade would offer you for a part exchange - so at least the shock won't be so bad - but they are no good at all for buying.

Your best bet is to build yourself a little database - PC or back of a fagpacket - and scour the ads on here, Pistonheads and Auto trader.

If you've got a particular budget and/or spec in mind narrow your search parameters down so that the data base doesn't get too big.

Once you've found a dozen or so you'll see the pattern of asking prices and will soon realise which are cheap and probably why (usually mileage related). You'll also notice how much more a specialist dealer will be asking and above that how much more an OPc would want.

Alternatively list your desired age, spec and mileage on here and I've no doubt some kind people will give you an idea of what you should expect to pay.

Happy Hunting ............. It's half the fun :thumb:

Waz · 13 Jul 2011

Auction

Check the auctions in these difficult times lots of cars are repossessed by the finance companies I know to 2 997 that went on sale .

jds686868 · 14 Jul 2011

Thanks guys, I am still in Oz at the moment and will be moving to the UK end of Sep. I have been doing some research and have been tempted to buy a couple of things sight unseen but will wait till I arrive. The asking price typically seems to be quite a bit higher then the guide suggests. For example I am looking at a 2006/2007 911 turbo. The is from parkers - assume it is similar to others..

Original Price £98,178
Franchised Dealer £46,325
Independent Dealer £45,300
Private Good £42,225
Private Poor £36,275
Part Exchange £38,645

I suppose I just want to make sure that I should be looking to negotiate roughly according to the guides suggestions. Dealers in particular here seem to bump up the sticker price and will negotiate heavily.

So we will be looking to buy 2 cars, the 911 turbo and a 2006/2007 Boxster S, so feel free to suggest appropriate price ranges.

Also, what is considered low milage? Is less than 20k considered low milage for example?
Regards
John

T8 · 14 Jul 2011

jds686868 said:
The asking price typically seems to be quite a bit higher then the guide suggests. For example I am looking at a 2006/2007 911 turbo. The is from parkers - assume it is similar to others..

Original Price £98,178
Franchised Dealer £46,325
Independent Dealer £45,300
Private Good £42,225
Private Poor £36,275
Part Exchange £38,645

Exactly my point.

Dealers will quote that £38,645 (or lower) as the trade price for a car taken in part exchange.

When it comes to selling dealers will advertise thev car at a price that the market will bear and in the case of the 997 Turbo probably hold out for more-or-less that. There are several exanples on the market at the moment

eg.

06/42k miles =£49k
06/54k miles = £50k
06/32k miles = £50k.

I can't see any of them dropping their price to the £45k-£46k that the guide suggests.

Some sellers when faced with a big lump of depreciation will attempt to sell the car privately. Several similar (2006) cars are currently available for c£43K ie. above the 'good' private price suggested in the guides without necessarily being 'good' cars.

What you end up paying depends on how desperate the seller is to sell and how easy you make the deal for them. Cash and/or no PPI etc would probably work but would not necessarily be the best option for the buyer.

Regarding mileage, on a 2006 997 I'd consider 30,000 to be low.

Happy Hunting :bye:

Thor · 23 Jul 2011

jds686868 · 25 Jul 2011

Thanks for the advice folks. I believe our guides in Oz are a bit on the low side as well. I think it may be because people report the sale prices as lower then they actually are to save a bit on tax.
Anyway it gives me a starting point, expecially as I don't really know what the maret is lie.

cheers
John

bazhart · 25 Jul 2011

The trade guides differ so much from each other that we had to run our own data base.

We found top private prices are usually nonsense - just owners hoping for a sale at that price - so best to exclude them.

Then dealers usually bend a bit or throw something in with the sale.

If you keep trade and private sales seperate then - the average the rest that will give a good guide to what to pay.

The trade have some legal obligations and are responsible for accurate descriptions and to repair faults present at the time of sale.

If you look at 10 or more private or trade sales cars you will find 2 or 3 very poor - 4 or 5 average and 1 or 2 superb - and all for similar money.

Finally - neither you nor traders can totally avoid buying a car with problems or developing problems - everyone takes a risk. The best way to minimise your risk is with a reputable trader including a reliable warranty or alternativley don't pay too much provately so you have something in hand if you need it and then get the car well serviced and sorted out.

Good Luck,

Baz

Are the price guides accurate?

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