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BCA targets ‘lost art’ of used car valuations

BCA has launched a dealer training initiative designed to arm buyers with the skills to value a vehicle more accurately.

The company has put together a half-day programme which covers key topics for the used car sector, such as effective use of auction, part-exchange appraisal and setting reserves.

Dave Burden, BCA’s general manager, dealers, says: “The ability to value a used car is seen by many in the industry as almost a lost art. It’s being done every day in auction halls up and down the country, but still many working in the used car sector do not have the information they need to value a car accurately.”

Burden argues that car buyers are better informed than ever thanks to consumer guides and car information websites, so if dealers are not spot on with valuations they could lose a sale.

“Valuing cars is not just about knowing which page to turn to in the price guide, it’s about market knowledge, access to information, nous, common sense and experience, and you don’t get that from the pages of a book,” he says.

“Errors usually begin with a poor part-exchange appraisal, particularly when a franchised dealer is presented with another make in exchange.

“Over-valuations are regularly caused by poor condition not being picked up at the time, or the specification being mis-described. This can make an expensive deal that could still be having ramifications weeks down the line.”

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