I am looking at purchasing a "new" family sedan (coupe).... are the red book prices accurate? The second hand car market is flooded with cars, no doubt due to the incentives offered to business to purchase new. Does anyone here have a dealer license who can confirm red book values are pretty close to what you can buy for at dealer only auctions ?
red book
Started by
_Skapinad_
, Jul 30 2009 07:10 PM
5 replies to this topic
#2
Tiny
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Posted 30 July 2009 - 08:09 PM
Redbook values are only taken from the sale value that is Lodged with the RTA and other state motoring bodies as to the sale of the vehicles.
Redbook is therefore nothing more than an average value of that type of car sold.
It's a good starting point and a reference point, but i'd be doing my research by looking at ALOT of other vehicles similar to the one you want and then making the comparison.
Cheers
Redbook is therefore nothing more than an average value of that type of car sold.
It's a good starting point and a reference point, but i'd be doing my research by looking at ALOT of other vehicles similar to the one you want and then making the comparison.
Cheers
#3
_big chris_
_big chris_
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Posted 30 July 2009 - 08:21 PM
Redbook prices can be close for some models of cars,
others are not even in the ball park,
what kind of car are you looking at?
others are not even in the ball park,
what kind of car are you looking at?
#4
_Skapinad_
_Skapinad_
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Posted 31 July 2009 - 07:37 AM
02 or 03 M3, manual. black or silver.
#5
Dr Terry
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Posted 31 July 2009 - 08:45 AM
My answer is a resounding NO, they are not accurate, especially in the current climate.I am looking at purchasing a "new" family sedan (coupe).... are the red book prices accurate? The second hand car market is flooded with cars, no doubt due to the incentives offered to business to purchase new. Does anyone here have a dealer license who can confirm red book values are pretty close to what you can buy for at dealer only auctions ?
I have a dealers license & attend auctions regularly & currently the market is very volatile, with prices all over the place.
I've been to one auction recently were the prices were silly high, & therefore most were passed in. Then, the very next week it was 'bargain central' & I picked up 3 good buys, way under market price. These same cars were present at the previous weeks auction!! There are so many cars for sale at the moment & so few genuine buyers. The opposite is that if 2 people are actually bidding for the same car then the prices often go higher than retail. They get into a buying frenzy. Some cars, especially 'orphan' European models that nobody but you wants & nobody else puts there hand up, you could get a bargain.
Dr Terry
#6
_booral1_
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Posted 31 July 2009 - 09:08 AM
I wouldn't rely on redbook at all.I've been in the industry for many years and currently work for a company that has 13 franchises including BMW.We constently are having arguments with finance because they are relying on Redbook and Glasses Guide saying that certain cars don't book or they are over booking.The best way to see what the market is doing at the time is to get out there and do the reserch,eg Auctions,internet and most of all private sales.This is where the tide is turning for second hand cars, private sales are growing stronger by the year.Even we are starting to buy more cars privately then going to the Auctions because you don't have to fight with hundreds of other people/dealers for the same car.Prestage can be a little harder thou because the owner expectations are always quite high.
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