Part-ex prices in an instant

Forget long, drawn-out visual inspections and test drives – a clever new system means salesmen at car supermarket Motorpoint will soon be able to tell in seconds how much your old model is worth in part-exchange.

Staff normally have to carry out lengthy vehicle appraisals before committing to a trade-in offer – but not any more. The company’s new ClearPrice computer programme uses price data from a variety of sources to arrive at a valuation from only the car’s registration number and current mileage.

Data check firm HPI and information from the DVLA are used to identify the age, make, model and ownership history of a customer’s vehicle. Data supplied by price experts at CAP and Glass’s Guide is also checked in order to provide an accurate value.

A spokesman for Motorpoint said: “The new set-up allows us to give customers the full current market price of their car very quickly. This is the true value at that particular point in time.” Despite the widespread use of price guides, the amount offered by dealers for a part-exchange can vary wildly between forecourts. “Traditionally, garages choose to sell models at a premium so that they can appeal to a buyer’s ego by offering a higher trade-in figure for their old car,” added the spokesman. “But UK customers are now much more aware of this.”

Without a big trading margin added to its prices, Motorpoint relies on large sales volumes for profit, which it says can only be achieved with realistic part-exchange values.