Valuations
diesel-car

Diesel running costs set to rise

Unless you’ve been enjoying a long holiday on Pluto for the past few months it won’t have escaped your attention that diesel-engined cars are not flavour of the month. They’ve been singled out as pariahs for their part in poisoning our air, and is it any wonder when you see old buses and high-mileage (or badly maintained) family hatchbacks spewing out clouds of noxious soot as they accelerate away from the lights?

For years, diesel cars were set to save the planet. They produce less CO2 than petrol-engined vehicles because diesel contains more energy than petrol. However, while CO2 emissions are lower, diesels produce far more particulates and it’s these that cause air quality problems – they get trapped in our lungs and cause breathing difficulties.

It’s this air quality issue that has led to lots of headlines about thousands of premature deaths each year. However, that number varies wildly and nobody knows what it is because we’re not talking about healthy people being struck down in their prime. Generally those who are dying are already very ill, and their deaths are being brought forward by as little as a few days. But nobody knows how many days; no wonder the figure is impossible to pinpoint.

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Valuations

How to maximise the value of your car

Nobody wants to be taken to the cleaners when they sell their car, but how can you maximise the amount you get for your car when you sell it? It’ll come as no surprise that giving it a seriously good spruce up can make a big difference to its value – potentially hundreds of pounds!

When somebody buys a used car they want to be reassured that it’s been looked after. A dealer doesn’t want to have an unhappy buyer bringing the car back and a private punter won’t take on a car that they think will be a liability. So how important is cleanliness at selling time?

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Industry News, Press Releases, Valuations
HPI Free valuation

hpi® puts diesel consumers’ minds at ease with free future valuations

Leading vehicle data service, hpi®, is offering diesel users peace of mind with the launch of its latest online valuations tool.

hpi® will now display future valuations for vehicle valuations completed online at hpivaluations.com making it easier than ever before to track the future values of any vehicle.

The new free to use future valuations service is in direct response to increasing negativity and bad publicity surrounding diesel vehicles and usage. Pressure is mounting on the government to introduce measures to remove the most polluting vans, taxis and cars from the roads, leaving owners of diesel vehicles concerned about the future values of their vehicles.

This is the first time car buyers and sellers have been presented with free future vehicle valuations. The service will be freely available for two months to help calm the fears of diesel vehicle owners. For cars under five years old future valuations up to five years in the future are provided.

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Valuations
car valuation

What dictates the value of your car

You’ve probably heard a thousand times that something is worth only what somebody will pay for it, but what dictates how that figure is set? Why is one car worth £500 and another 10 or 100 times as much?

It’s down to a multitude of factors but at a simple level a car’s value is driven by the balance of supply and demand along with its original selling price. So if it was expensive to start with and very sought after, it will continue to be valuable – but if there’s little demand for it, its value will quickly drop. Conversely, if a car is cheap to start with it’s unlikely to become more valuable, so will always be worth relatively little.

For more on car depreciation and residuals check out our blog on the subject. In the meantime, these are the key things that will affect your car’s value.

Image

Arguably the thing that makes the biggest difference to your car’s value is something that’s subjective and driven at least partly by reputation. In the UK we like our premium marques whereas mass-market products aren’t so highly regarded. As a result we’re happy to pay a higher price for a car from an upmarket brand, even if the car isn’t as reliable or such good value as a cheaper alternative. Sometimes a car doesn’t have much of an image because of limited awareness through a lack of marketing – and it’s these that can make the best used buys.

Condition

If you’ve got a mainstream car to sell, one of the things that will make the biggest difference to its value is its condition. If it looks abused nobody will want to buy it – why would somebody buy a car with grubby paintwork and stained interior trim when they can find a better example elsewhere? Buyers will pay a premium for a car in immaculate condition and the same goes for one that’s covered a low mileage and comes with a full service history.

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Valuations
car valuation

Why you should get a car valuation

Five reasons why you should get a car valuation

The value of anything is driven by the balance of supply and demand, and it’s no different for cars. How well a car retains its value depends on how desirable it is and how many of them are available – so even if there’s a good supply, you can still pay plenty if there’s also a strong demand.

Just look at cars such as the BMW Mini, Audi A3 and Range Rover Evoque. There’s one on every corner, but because they’re also held in such high esteem by used car buyers, you’ll always pay plenty to buy one.

The thing is, there’s no way of knowing what your car is worth without referring to some kind of valuation service. Just because you paid £10,000 for it a year ago, it’s impossible to say what it’s worth now. Besides, if you bought it from a trader you’ll have paid top whack for it, and it’ll immediately be worth significantly less than you shelled out for it if you then sell it privately or trade it in. To understand this better, check out our blog on how depreciation works.

And here we’ve opened a can of worms, because your car doesn’t have a set value as such. Instead it has a range of values depending on whether it’s for sale at a dealer, being traded in against another car or being sold privately. It might also be going for auction – in which case that’s yet another value you can put against it.

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