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Old 1st November 2016, 19:16   #61
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Default Re: The other side of the story: A used car evaluator's perspective

Would you guys say a 'fair' starting price for a used car would be the vehicle would be the insurance quoted IDV ? After that +- for the car condition, popularity etc ? This would be for the final sale to the 2nd owner. Im sure a used car dealer would buy it for a less than this 'actual value' and sell it for a bit more.
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Old 1st November 2016, 20:10   #62
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Default Re: The other side of the story: A used car evaluator's perspective

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Originally Posted by Mortis View Post
Would you guys say a 'fair' starting price for a used car would be the vehicle would be the insurance quoted IDV ? After that +- for the car condition, popularity etc ? This would be for the final sale to the 2nd owner. Im sure a used car dealer would buy it for a less than this 'actual value' and sell it for a bit more.
Insurance IDV and market value of a car are totally different. If you consider IDV as a benchmark, the by that logic there are no cars with low or high resale values as similar priced car would have similar IDV after same number of years.

IDV is also mostly one year old price of the car in most cases.
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Old 1st November 2016, 20:51   #63
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Default Re: The other side of the story: A used car evaluator's perspective

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Insurance IDV and market value of a car are totally different. If you consider IDV as a benchmark, the by that logic there are no cars with low or high resale values as similar priced car would have similar IDV after same number of years.

IDV is also mostly one year old price of the car in most cases.
Like I said, can we consider as the starting point for and average car though ?
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Old 1st November 2016, 21:31   #64
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Default Re: The other side of the story: A used car evaluator's perspective

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Originally Posted by BeantownThinker View Post

What rankled me most was knowing that such are the practices that are followed even by the so called reputed car dealers. This entire deal with me was front-ended by the Sales Team Leader of the new car division at Advaith Hyundai and not some small-time used car dealer.

I have made my peace with it and learnt to be suspicious of all such dealers.
I take it you're not a fan of the Discovery Turbo show "Wheeler Dealers" then?

I think others have made the point: what you've described are standard sales practices and perfectly legitimate. Rest easy- you did not get conned.

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Originally Posted by Karthik_S View Post
On a tangential note, Fazayal, why is there a premium on "Doctor " Driven vehicles? I never get that, it is so stereotypical. If anything a doctor might be using the vehicle for a lot of intra-city travel.


Karthik
Interesting anecdote: when I bought my Swift used from First Choice, the sales advisor told me my car commanded a premium because it had a 'special number' and was 'doctor driven'. I scoffed at the former and was amused at the latter back then. A couple of years later when the Vento joined the garage the VW dealer offered me a 'matching' special number (5544 to Swifty' s 5533!) that I gladly accepted. And today when the old steed is still running fine at 91,000 km I suppose I have the first owner to thank (he was actually a doctor- his insurance papers said so!)

So don't dismiss it out of hand
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Old 1st November 2016, 21:36   #65
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Default Re: The other side of the story: A used car evaluator's perspective

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Originally Posted by Karthik_S View Post
On a tangential note, Fazayal, why is there a premium on "Doctor " Driven vehicles? I never get that, it is so stereotypical. ...
I believe this is to do with the "good cash reserve" the doctors may hold. The expectation is that they keep their rides well maintained (in the A$$) and not the road side mechanic trying to save cash.
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