What have people's general experiences been with Redbook price vs actual dealer/private price? I've found redbook to consistently price cars significantly lower than advertised. Not sure if my haggling needs to be sharpened up..
Redbook Pricing - Appears to below Actual Prices
Geerthytime on 15/04/2019 - 12:12
Last edited 15/04/2019 - 12:55 by 1 other user
Last edited 15/04/2019 - 12:55 by 1 other user
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Lol hi neg voters!
Redbook is used to monitor stamp duty prices, nothing more nothing less.
Unless you think a 1990 SS Group A Commo is really gonna private sell for $37,000-$45,000? Really?! Though I'd love to trade one for $30k lol
What the negging morons fail to realise is a (profanity) tonne of people lie in the market value field of the rego form especially in private sales in order to save a few hundred in stamp duty fees, so in fact it is a fairly useless monitor of prices.
Except victoads (not sure about other states) have now started using actual market value to determine stamp duty. No matter what you write on the form they will base stamp duty on the market value or what’s on the form which ever is higher. Has always been the way but it’s now enforced as of March 1st.
Mate wrote $5000 on his form for the car he bought was told cars market value is $8500 so they charged stamp duty on the higher amount.
I write RWC’s in my job so was asking our vicroads contact and he told me they got a directive from the top to start checking market value when processing transfers.
@jimbobaus: What if a car is really beaten up? Seems unfair to be charged stamp duty based on the value of the same model in good condition.
@Quantumcat: It's only unfair because the majority of buyers didn't tell the truth on the transfer paper.
Not hard to tell where you are coming from.
I used to get the NRMA/GIO/etc say "My car is worth $X."
My response was that "I would certainly accept a cheque from them as part payment, so let's get the paperwork started."
redbook only good for insurance guide
go carsales to compare selling price
I wish carsales would make avg sales data easier to access. I've seen a graph snooping around once before, but it's not easily accessible.
They love to charge dealers for that instead. Carsales is a money-making machine, and the dealers are stuck paying.
They charge for "LiveMarket", which shows what it was last listed for, how long it was advertised for etc. Gives you an idea of the realistic value on a car, and how desirable it is.
Yeah that’s a dealer feature and you need an LMCT and a bottomless pit money to access that data.
if you sell a car you get some useful graphing of current and last years advertised price for your model car, showing mileage v price and other stuff.
Yeah I think that’s where I saw it. I wish it was freely available, but it is a business I guess. Speaking of which, my friend married a girl whose father was one of the original investors in carsales.com.au, they’re from the UK but he said it was the greatest single investment he ever made (when he sold out his share).
in theory the carsales data is what drives redbook plus wholesale data via auctions. the data however does lag for the free redbook, paid subscription service spits out very different numbers
Redbook only shows price before on-roads. You also have to consider the demand for that particular car. If it's a supply-constrained car that dealers have no problem selling, they can afford to charge more than list price.
I've found redbook to consistently price cars significantly lower than advertised.
Advertised price /= sale price?
As written by Comrade Mao
Redbook is not far from the truth.
What people want and what they get are 2 different things.
I always pay $1k above trade price. I have purchased 10 cars this way.
PS: Depends on the car type/model of car as well.
redbook is useful for auction cars. they tend to go roughly in between trade-in and private sale prices, particularly more common models. so there is something to those numbers.
but no one really knows how much cars are worth, and it comes down to the individual buyer and seller.
both can be dumb. sellers usually overestimate to try and get more money. buyers might not look around enough and fall for the inflated prices. or find a desperate seller who accepts a much lower offer than they shouldRebook says 2013 Hybrid Camry is between $8800 - $13600 so I'm not complaining that I paid $2100 for mine!
How?!
Check Hybrid System
Wow ok was there any serious issue?
Ex taxi lol
Carsales prices are often crazy. About 90% of people are dreamers, 10% want to sell.
They're probably priced factoring in a tough negotiation
Some are literally double what they are worth. That's dreaming.
I guess I'm used to looking for older cars (around 5 years), but I found Redbook overpriced, and I could negotiate for significantly below what Redbook listed.
At the end of the day, it's whatever price the buyer and seller agreed upon, which can vary drastically from what Redbook or Carsales list
Redbook is only a guide but if you are looking to buy then use it as a bargaining tool
I recently sold my VE SS Ute, advertised for $12,500, worth $16k according to Rebook etc as it had Low KM'S, 6 Speed & Blue. I had Scumtree Tossers lowballing me $5k & $6k even though ad clearly stated no SMS or email will be answered, all low balls will be deleted & no offers will be entertained unless you're standing in front of me!
Ended up selling it for $10k(sad day)
A few golden rules to remember
Cars are generally over priced
Cars on average devalue 10% per year
Extras do not guarantee a better price but might make a car sell quicker
If it’s damaged, you have to factor in cost of repair to the price
If you are not happy with any aspect don’t buy it, there will be a newer one along soon for the same money
Dealers have to sell, buyers don’t have to buy
A fool and his money are easily parted
Any product is only worth what a buyer pays, what a seller wants is irrelevantA honest seller usually gets a sensible price but beware of being an honest buyer!
Redbook doesn't buy and sell cars.