Skoda Octavia II resale value?

[MartinL]

Hi All,

I'm going to be selling my 08 1.9 PDI Skoda Octavia Elegance Estate (Manual). The dealer offered me approximately £9K for it and Glass's valuation for private sale was around 11K (I realise the Dealer will always be less than private sale).

It has metallic paint and full leather upholstery, done about 21,0000 miles and is in very good condition. To get a realistic value of the car I paid for a Glass's valuation report and included the extras on the car and mileage.

I also attempted to look on Autotrader for similar cars to get an idea but didn't see any with a mileage as low as mine or with leather interior. The closest I could find was a Octavia II Elegance estate without leather interior and higher mileage at £10,995 or a Laurin Clement model.

I don't want to set an unrealistic price for it as I know some people do and then have to readvertise it. I was thinking of putting it on for £11,500 to allow for negotiation with the buyer.

Any views on this would be appreciated.

Thanks

Martin

Edited 20 July, 2011 by MartinL

[FriendlyFire]

Hi.

I suggest you look at the Skoda web site for "approved Skoda" cars like yours. This will set a top retail price for yours. Probably more real world than even Glass's guide. Then I would ask for something less to account for the difference between buying from a dealer over a private sale.

Personally, I would give a dealer 11500 before I would give a private seller the same money. Buying private I do not get the warranty and PDI etc. that a dealership can provide.

Just a thought - if you say the dealer will buy it in for 9000 and you want 11500, then there is 2500 pounds in it for the dealer. (Quite a large mark up).

If you can get 11500 private then he must be able to get more?

Seems to me, either the dealer is too low or you are too high?

Just an opinion.

Edited 20 July, 2011 by FriendlyFire

[tony2311]

http://www.autotrader.co.uk/classified/advert/201112383045108/sort/priceasc/usedcars/body-type/estate/maximum-mileage/up_to_20000_miles/fuel-type/diesel/maximum-age/up_to_4_years_old/model/octavia/make/skoda/postcode/s611hr/page/1/radius/100?logcode=p

2010 Less miles auto box from dealer £11500, dealer offer of 9000 is very good

[martinch]

2010 Less miles auto box from dealer £11500, dealer offer of 9000 is very good

That's only an "S" though, not an "Elegance", although I guess the DSG makes up for that.

A quick look on AutoTrader brings this up as the closest match: http://www.autotrader.co.uk/classified/advert/201120387383351/sort/priceasc/usedcars/body-type/estate/maximum-age/up_to_3_years_old/transmission/manual/maximum-mileage/up_to_40000_miles/engine-size-cars/1-7l_to_1-9l/fuel-type/diesel/model/octavia/make/skoda/keywords/elegance/page/1/postcode/so166yd/radius/1501?logcode=p (dealer, 58 plate, 25k, £11,400)

[Wardy]

Going on the AT ad above, it would seem that the 9k trade-in offer is in fact very fair.

As that's up for 11.4k, why would someone pay the same for a private sale, when they can goto a dealer for the same money and receive better peace of mind and comeback if there's an issue...

If you're going to try and sell privately, then I'd probably be putting it up for between 10,250 and 10,500.

[MartinL]

Hi,

Thanks for all the pointers, I didn't consider the advantages to a buyer of buying from a dealer.

All the cars mentioned have cloth interior and not leather. When I went to the Skoda site and searched for used Octavia's with Leather interior the results returned were all Laurin & Klement model e.g. http://www.skoda.net.r66.co.uk/carview.aspx?id=601265623 which obviously is not the same spec.

When I bought the car I did ask the dealer about getting the same car in an Auto but he told me that the Auto option would cost as much as the Leather interior again i.e. Auto gear box option was same as leather interior.

Overall I wasn't sure how much the Leather interior adds to the value of the car?

Overall I think around 10-10.5 is around right price.

Regards

Martin

[Wardy]

You've got to be very careful thinking of options as adding value to a 2nd hand sale. The harsh truth is most often, they don't. At best, they make the car more desirable to a potential purchaser, as in they might be more likely to buy yours over a similar model without leather.

That's the thing with options - you can't really expect to get the cost shelled out when new back at resale time.

[devonutopia]

and if you want to advertise on here, ensure you join freedom to gain access to the cars for sale forum

[MartinL]

You've got to be very careful thinking of options as adding value to a 2nd hand sale. The harsh truth is most often, they don't. At best, they make the car more desirable to a potential purchaser, as in they might be more likely to buy yours over a similar model without leather.

That's the thing with options - you can't really expect to get the cost shelled out when new back at resale time.

Hi Wardy,

Now you mention it. I recall reading that a dealer offering to throw in extra options when purchasing a new car isn't worth a lot as come resale time it won't be worth much.

The only thing I don't understand is the Auto Octavias fetch more than the manual ones,, is the Auto option more functional i.e. like a larger Engine whereas leather trim is like metallic paint or alloy wheels i.e. more cosmetic? Or is it a case of the Auto's being more in demand?

[Wardy]

Transmission choice is a bit more than just an 'option' really, as it fundamentally changes how the car operates. For example, a buyer might only be able to choose an auto because of license type, or disability etc.

Also, additionally on the Octavia and VAG vehicles, because it's a DSG transmission. This is seen as the best of both worlds really, in that fuel consumption particularly and CO2 output isn't really affected by choosing the 'auto' option, in the way you would if you opted for a traditional torque converter auto transmission. So people are attracted to them because of that as well.

As well, on certain makes and models, it can become almost a necessity and becomes 'expected'. An example would be a large BMW or Merc. On that type of vehicle, you'd be severely hampered trying to sell a manual version.