I am writing this guide aiming at newcomers who want to know whats the right price for a motor and potential or existing sellers so that buisness transactions are fruitful and harmonious.
Apart from basics of checking cars etc, which I have copied and pasted below after this guide, price checking is the most important thing. So how do we value the vehicle. Well firstly remember that if you overpaid the price, it not only benefits somebody else but raise the expectation level for all the sellers and hence sellers start charging unreasonable price.
I recently went to buy a car and before I went I did my research, which I am going to tell you shortly and I asked the seller what made you value your car at such price. The answer is
"I value my car at this price because I have seen people on ebay, internet etc selling at approximately the same price" I found this sellers price to be atleast 20-30% above valuation price or recommended price and it goes for most sales in ebay. Why?
1. Most buyers are either first time buyers who have passed their driving test like me and do not know about the information, hence this guide
2. Many sellers have mulitple identities and therefore they bid on their own items to artificially raise the price.
3. Encourages fraud, cheating and vice, which are self propogating. "I was cheated so I will cheat or I have done this many times, I can do it again"
1. Unsatisfied buyer
2. Broken deals
3. Uncertainity and
4. Lack of faity in the system (ebay). As you have seen many sellers now prefer people to phone before bidding.
1. Always find following information about the car
b.Date of Registration
After these information, find the reliability of this car and see how much it will cost to run this car on average. A site I find very handy for this is
Once you have decided the model, decide the actual price. I have found two very good sites for checking the price
Adjust these values for mileage and presto you have got a median from Good to Poor.
Remember your price range is between those medians or less, not more.
Some sellers ask for dealers price, remind them that dealers car come with HPI check, warranty and service and there is a legal protection.
Private sellers do not offer this stuff, however they can be very good buys.
If you drop me an email, I can write about how to check for mechanical, structural faults and pricing accordingly but this should serve as good intermediate point to get your dream car and make online selling a safe place.
How to pay the right price!
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11 October 2006
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