Valuations explained

There is a considerable difference between a retail price for a vehicle versus an auction price for the same vehicle. Between these two extremes lie the trade-in value and the value you might expect to achieve if you sold the vehicle privately. It is important to differentiate and understand why these differences occur.

Cost New - This is the amount the car cost when brand new before any optional extras or special discounts are applied.

Forecourt Value - These are generally the highest prices that you would expect to pay for a vehicle because they will have done most all of the necessary repairs in order to bring the vehicle into a good condition and to make sure it is fit for purpose. Additionally dealerships employ people to make sure paperwork is correct and to valet the vehicles as well as the overheads of maintaining their premises and covering the marketing costs.

Trade-in Value - This is the value that you might expect to get for your car if you were to trade-in or part exchange for another vehicle that the dealer has. This value can be lower than the forecourt price as the dealer may need to carry out a service or replace any worn parts before they can sell it on the forecourt. Remember that this value may vary depending on the value of the car that you’re buying so don’t be afraid to discuss this with the dealer