Thinking about selling my car to upgrade to something a bit bigger, but it is quite a rare model so none are on trademe or autotrader that are remotely close in terms of year or kms.
Has anybody used Redbook?
http://www.redbook.co.nz/
it supposedly can give you an idea of what your car is worth. you input the make, model, year, km, condition. (it costs $13.00 though). anyone know how they estimate this value? some algorithm based on age, milage etc? or is it based on historical sales? (not that there will have been any)
The number for my car came out at $22,000 trade-in or $27,300 private sale, which seems rather high to me.
since we only paid $25k for it from a dealer 18 months ago when it was brand new, but end of line so discounted by 12k from RRP which was $35k)
the redbook value would seem reasonable if we had actually paid RRP (roughly 25-30% depreciation in first year), but given what we actually paid the redbook value seems very high (essentially no depreciation)
I have been offered $16k trade in by the same dealer we bought it from, which sounds ok, if slightly low, in light of what we paid, but he could well be lowballing me as a negotiating tactic.
Reckon I could use this redbook valuation as ammo to push his trade in offer up to 20k?