Hi all,

 

Am looking to buy a 2nd hand Kodiaq vRS.  I know for sure I want to get a Kodiaq and I'm 90% sure I want a vRS and not other versions (mainly for the performance, which I will further tune, and the trim).  I don't have a firm view on age, mileage, or petrol vs diesel.

 

I've found a 2022 Kodiaq vRS, petrol, with 16,000 miles on the clock.  Have spoken with the owner who wants £36,000 for it on the basis that it has a sunroof and "all the extras" (with the exception of the tow bar).  Car valuation sites (autotrader, motorway.co.uk, Parker's etc) put the value of the car at around £33,500.  He says there's some flexibility on the price, but that he's previously rejected a price at the 'trade-in' value (which I take to mean in the £31,000-32,000 range.

 

I'm a bit stuck as to how to proceed as I don't really know how to value the extras.  My assumption is that the valuation sites don't really take them into account, and so potentially it does make sense to come up a bit from £32,500 on the basis of the extras, but I don't know how much.  I also don't know exactly what "all the extras" means, and what's included in the various packs.  For example, his ad doesn't reference Adaptive Cruise Control but from speaking with him I know the car has it as he says it was included in the Driver Assist pack.

 

Sorry, long post, but essentially what I'm asking is whether a price of £36,000 (or close to it) for a 2022 Kodiaq vRS with 16,000 miles on the clock and in seemingly good condition based on the photos is justifiable on the basis that it has "all the extras".

 

Thanks,

Martin

Traditionally extras don't really add much to the secondhand price (think more like £50 for an £500 extra), although they often increase desirability and thus make it easier to sell.

 

The normal way to value them is to effectively split each feature into one of the three lists : can't do without, fairly indifferent but maybe a nice to have, and wouldn't pay extra for it, as don't care if not there.  Of these can put a price on first category, middle category is worth £0 to you, and third category is between £0 and negative (just something else expensive to repair if it fails)

 

The car is 2 years old and specs change over time, some are added, some dropped.   Go onto the Skoda website, new cars, scroll to bottom and find brochure downloads and print out the pages with the list of features and options and their prices (not pages with pretty photos), use this for basis of your 3 lists as above.  Put a price against those in first list, add it up, then decide how much prepared to pay for what is being offered.

 

 

The car and the extras are only worth what you as a buyer are prepared to pay. In my experience when selling cars I bought as new with full service history and quite a few extras, they don't seem to achieve much higher prices on trade-in, yet people who buy the car are waiting for them to hit the market, so it makes the sellers job easier. 

Thanks for the replies - both helpful.  In the end I did what you both suggested, which was essentially just to consider what the specific extras were worth to me personally rather than some generic valuation, and on that basis went ahead and bought the car at a slight discount to the asking price but still above the price suggested by the valuation sites.  I wanted a Kodiaq vRS with certain must-have accessories and some nice-to-have accessories, this one fit the spec and in the end I placed a premium on finding exactly what I wanted and finding it now, instead of waiting for the same spec to come up again at a later date and at a lower price.

 

So I'm now the new owner of a lovely grey '22 Kodiaq vRS!  Off to France in a couple weeks and looking forward to some longer drives in it!

 

 

Great result. Low miles is worth a bit as well on a car that new.

 

I tend to think that extras not adding much to the value came about because the trade wanted to get the car's as cheap as possible and is a ploy used to screw the seller down. Funny how they are more happy with a car that does have the desirable extras though and if it doesn't they give a lower price! You only have to look at second-hand car prices to see that extras do have a value!

 

Anyway, academic though now and you've got what you want, enjoy it.

Edited 20 July, 20241 yr by VAGCF

On 12/07/2024 at 14:16, martin_b said:

Hi all,

 

Am looking to buy a 2nd hand Kodiaq vRS.  I know for sure I want to get a Kodiaq and I'm 90% sure I want a vRS and not other versions (mainly for the performance, which I will further tune, and the trim).  I don't have a firm view on age, mileage, or petrol vs diesel.

 

I've found a 2022 Kodiaq vRS, petrol, with 16,000 miles on the clock.  Have spoken with the owner who wants £36,000 for it on the basis that it has a sunroof and "all the extras" (with the exception of the tow bar).  Car valuation sites (autotrader, motorway.co.uk, Parker's etc) put the value of the car at around £33,500.  He says there's some flexibility on the price, but that he's previously rejected a price at the 'trade-in' value (which I take to mean in the £31,000-32,000 range.

 

I'm a bit stuck as to how to proceed as I don't really know how to value the extras.  My assumption is that the valuation sites don't really take them into account, and so potentially it does make sense to come up a bit from £32,500 on the basis of the extras, but I don't know how much.  I also don't know exactly what "all the extras" means, and what's included in the various packs.  For example, his ad doesn't reference Adaptive Cruise Control but from speaking with him I know the car has it as he says it was included in the Driver Assist pack.

 

Sorry, long post, but essentially what I'm asking is whether a price of £36,000 (or close to it) for a 2022 Kodiaq vRS with 16,000 miles on the clock and in seemingly good condition based on the photos is justifiable on the basis that it has "all the extras".

 

Thanks,

Martin

Firstly, "all the extras" is meaningless fluff, and should be disregarded. I'd also treat the vendor with discrete suspicion for pushing nonsense like that at you.

Get a full list of all the factory-fitted options.

 

As to their value, IMO it's something like this: Value of optional extras = (10% of original cost of extra + x-factor of the desirability and scarcity of the option)*cost of adding extra after car's manufacture.

Rare but desirable optional extras stack value to a car, IMO.

 

The most valuable optional extras are the ones you actually want. Don't pay over the odds for a car with a load of extras you're not interested in.

Also find out how much the desirable options you want cost to be retrofitted later.

I wanted an Octavia with a reversing camera, not knowing that I could simply fit one myself after purchase for £40. (Fortunately, I didn't hold out for a car with a camera, but I did look for one.)

Now, how much does the £40 camera I fitted add to the value of my car? 😉