Hi guys,
Just wondering how reliable is the car sales instant quote in estimating the value of the car? The quote given by carsales seems to be more than the range from Redbook.
Anyone used it?
Car Sales Instant Quote Reliable or Not?
RSmith on 08/06/2022 - 05:36
Comments
If you are happy with the price and the details you entered are 100% accurate then go for it.
It’s an algorithm. It could be accurate, but it’s also likely less than you could get in a private sale because they’ll be racking a profit margin in there somewhere.
They offered me $3700 for a car which I went on to sell for $7k privately so in my experience, absolutely not.
The offered me a price which was in lower range of Redbook trade-in price & was matched. Ford dealer came in home, 5 minutes in and out, sent me an offer droped the car, was another 5 minutes. Depends on how much tme you have a haggle
So in short I would recommendThe quote is subject to an inspection. They will likely reduce the value for each and every tiny stone chip or mark….
Reliable underquote
I sold my 3 year old sportage via this method last year. They offered me practically what i paid for it. I took it to the dealer and they inspected it and the money was in my account 4 days later. I has a couple of scratches i did not mention and the dealer did not care at all. I got exactly what the quote said. I was very happy with the offer and the service
Yes, because redbook is lagging… my car is probably $5k off from redbook value to today's market.
What is your question?
Are you asking if the Carsales offer is a reliable indicator of the value of your car? No it's not, they undervalue it for the convenience of the instant sale.
Are you asking if the offer they give is reliable / will actually be met? Yes, if you are accurate about the condition of your car they will give you that much for it.
Actually no, you would be wrong I have just moved a vehicle on,if I had gone to the dealership with an outright trade in,it would have been 3k under what Carsales was offering.I previously sold a GT Mustang, & made more money out of it than I what or I paid @ the same dealer(they are the only Carsales outlet in my region)I was offered 8k less as a an outright sale to a major Sydney Ford dealer.
Which part am I wrong about?
Wanting to buy a car, and the seller has sent me the quote from carsales instant quote. The seller wants the amount given in the quote.
I'd be shocked if they weren't selling it way under what it's worth than. Those quotes generally suck.
(Unless they doctored the quote I guess)I think the seller's point here is that they can easily get $X from Carsales instant offer, so your offer needs to be higher. This is based off my 2nd point, in which that those offers are genuine and Carsales will follow through with them.
I would try the instant offer system yourself though just to make sure the seller hasn't faked the offer.
If in doubt as to the value, search for the same make/model on carsales to see what they are advertised at. The listing price is also just a guide and usually allows some negotiation room.
At face value I would suspect the sellers ‘carsales’ price should be more than a trade in but less than a potential private sale. So effectively a ‘good value’ buy.
What was the quote you got and what car? Back when I used it, it was a few thousand less than my car was worth to sell privately. But that was pre-covid.