ChatterBank2 mins ago
The Book Price?
3 Answers
When you go to buy a car from a dealer, they always quote the book price for the trade-in. What's so special about this book price? Why does it seem to be set in stone? Why can't they do a deal without 'The Book'? They say it as though it's the law. That you should just accept it because they say so. Why don't they let you see this book? What's in it that's so secret? Is it because you might see how much they're really going to rip you off for? Is there any way of viewing it on-line before you go to view a car? If not there should be.
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You can get a rough guide at www.parkers.co.uk, but I don't know about the "official" book.
The book is always Glasses or Cap (also known as black book)
They give a GUIDE to how much cars should be sold for trade and retail.
they do not let you see how much because it will let you know how much they make on a car (it does not include recon, cleaning, salesmans commission overheads etc)
If you go to a reputable dealer you should not get ripped off.
Of course they will make a profit - that is why they are there.
The book price is not set in stone that is what negitiation is about
The book is made up from what cars are actually sold for accross the country. The book tells a dealer what a car is worth and that is a lot less than what a car owner thinks it's worth. Essentially Glass's guide takes prices from dealers sales and auction sales throughout the country and compiles the guide. The auctions like BCA are effectively the stock exchange for cars. Anything is only worth what someone will buy it for so that's the figures that Glasses use and they extrapolate their figures for A1, GOOD POOR, DEALER, mileage etc from that. Often if you buy a car from a dealer you are buying what he bought at auction. You get warranty etc but essentially you are paying too much, ie supplying his profit, that's why most cars in auto trader are way over priced, people have a vastly inflated idea of the value of their car because they paid too much to start with. So in summary the book isn't law but to anyone in the trade it might as well be. It can't cover all events but it's the closest system so far.
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