cap hpi has developed a brand new software to cost elective extras on used autos extra precisely.
For the previous 12 months, the car valuations specialist has been conducting the analysis and gathering the information essential to assist its new Possibility Values software. The software is out there free of charge to present subscribers to the Valuation Wherever product.
The launch of the Possibility Values software means the business will now have the ability to worth the factory-fitted spec of the car, relatively than simply the bottom specification.
Derren Martin, director of valuations at cap hpi, stated: “It’s designed particularly for sellers and remarketers who, thus far, may doubtlessly have been lacking out on hundreds depending on the worth of elective fitted extras corresponding 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 with regards to elective extras, and lots of sellers will little doubt have been factoring in their very own values. This goals to treatment the state of affairs by providing extra outlined steering. With Possibility Values we’re addressing this and making certain that our prospects now not find yourself shedding 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 elective extras to get a extra correct understanding of how a lot these ought to be value on the used market. Used along with our Cap Dwell every day product, this makes our valuations extra correct than ever.”
Beneath is a choice of the Possibility Worth outcomes for a spread of used autos:
2017 Volkswagen Golf R 5dr with 25k miles
- Customary 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
- Customary 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
- Customary automotive with no choices: CAP Clear – £9,400, Retail – £11,195
- Choices added: Type 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
- Customary 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 elective extras will add to the value of a used car alongside different vital components such because the age of the car. Our goal is to make sure that sellers can now get an much more correct worth 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 knowledge going ahead.”
