cap hpi has developed a brand new instrument to cost optionally available extras on used autos extra precisely.
For the previous 12 months, the car valuations specialist has been conducting the analysis and gathering the info essential to help its new Choice Values instrument. The instrument is obtainable free of charge to present subscribers to the Valuation Anyplace product.
The launch of the Choice Values instrument means the business will now be capable of worth the factory-fitted spec of the car, fairly than simply the bottom specification.
Derren Martin, director of valuations at cap hpi, mentioned: “It’s designed particularly for sellers and remarketers who, thus far, may probably have been lacking out on 1000’s depending on the worth of optionally available fitted extras equivalent to a panoramic roof or alloy wheels. The quantity saved will differ for each car relying on the make and mannequin.
“Inaccurate values have existed within the business for years in the case of optionally available extras, and plenty of sellers will little question have been factoring in their very own values. This goals to treatment the scenario by providing extra outlined steering. With Choice Values we’re addressing this and making certain that our prospects now not find yourself dropping out or attribute their very own estimated values.
“Our values will nonetheless present the worth of the bottom car, however now sellers can add within the optionally available extras to get a extra correct understanding of how a lot these needs to be value on the used market. Used along with our Cap Dwell every day product, this makes our valuations extra correct than ever.”
Under is a collection of the Choice Worth outcomes for a variety of used autos:
2017 Volkswagen Golf R 5dr with 25k miles
- Normal 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
- Normal automotive with no choices: CAP Clear – £22,350, Retail – £24,750
- Choices added: 21″ 5 break 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
- Normal automotive with no choices: CAP Clear – £9,400, Retail – £11,195
- Choices added: Model 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 fall E-TRON 125kW 35 55.52kWh S Line 5dr Auto with 10k miles
- Normal automotive with no choices: CAP Clear – £27,150, Retail – £31,250
- Choices added: Help Package deal Superior (inc Flat backside steering wheel), This fall E-tron, Panoramic Glass Roof: CAP Clear – £28,300, Retail – £32,400
Martin added: “There’s a restrict to how a lot optionally available extras will add to the worth of a used car alongside different vital elements such because the age of the car. Our goal is to make sure that sellers can now get an much more correct value valuation for inventory they’re shopping for, taking in as half exchanges after which retailing. We’re additionally on the lookout for buyer suggestions on different ways in which they wish to devour this vital worth information going ahead.”