Why are there such large discrepancies amongst car valuation guides?
Car is 1998 S BMW 750iL with 70k.
Parkers
Private - £10,275
Whatcar
Private - £13,291
A discrepancy of £3,016.
That's a lot of cash...Any recommendations about which guide is closest to the TRUE MARKET VALUE?
Thanks!
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trade in according to glasses
Vehicle summary
BMW 7 Series 750i L
5.4 Petrol 4-door Saloon
5 Speed Automatic Rear Wheel Drive
Year: 1998 R
Mileage: 70,000
Estimated value of your car
Part-exchange Price:
Excellent condition:
£7670
Average condition:
£6710
Below average condition:
£5730
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Yeah, but that's trade in price. No dealer will sell for part-ex price will they?
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The prices you put up were for private sale ? not dealer ?
I wouldn't pay much more than trade price for a private buy, most private sellers are only too glad to find a buyer
but generally private sellers are bad news and one or more of the following usually applies:
* they are traders in disguise
* they over describe the car and have an inflated opinion of the car's worth
* they offer the cars for sale knowing there are faults or work required and keep quiet about it
* they can be selling damaged repaired or stolen cars without knowing it (ie) they didn't check when they bought it
*they can't afford to have their cars properly serviced or don't understand what's required (and think a £49.99 winter check at their local fast fit is sufficient)
I know there's a few genuine clean fsh cars out there but only about 1 in 10 IMO
With a trade price of 8.5K, I think about just over 10K is what dealers would want, I wouldn't pay much over 9K for a private sale.
I think Parkers is more reliable than What Car - can't see an S reg BMW 7 series with a 5.4 litre motor, with all the implied maintainance costs, being worth £13K
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A link & search from the panel on the left gives one example
tinyurl.com/8knwb
Private but 131K ,£9495.
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Erm , sorry guys but isn't a car only worth what someone is prepared to pay for it , good or bad . If you want that car you will pay the price.
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Agreed, Smartmart, but for a seven year old 7 Series £13k sounds like it's on another planet to me, even for the 5.0.
It is genuinely difficult to value - you could buy two of the cheapest 98 750i for the price of the most expensive in the Trader. It's rare, it's an ultra high specification car and it's (potentially) expensive to maintain.
Pay more for the right one but, as much as possible, buy with your heart and not with your head.
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