Retail Check - fair prices, trust & transparency
It shouldn't be a surprise that for years the motor-trade has had a habit (and still does) of rounding-up advertised car prices, for example, at £9,999 or a flat £10,000 across the board.
The thing is, this isn't fair on the customer.
Unless you negotiate hard with the dealer - which can often be uncomfortable - you're not going to get a fair deal. Here's a (totally fictional) example explaining why:
Simon is a car dealer and owns 'ABC Cars'. He has a 2010 BMW X5 for sale with 100,000 miles on the clock. He checks the car's retail price and values it at £9,140. Let's call this the 'fair market value'. Simon takes £9,140 and rounds this up to a juicy £9,999. He puts that on the price-board and on the advert (cheeky, right?). Now the car is advertised for sale at an eye-watering £859 above it's fair market value. Not so fair anymore.
Who wins? Who loses? You don't need to be a rocket scientist to work that one out.
Now let's say a customer called Lucy wants to buy this car from Simon. Unless Lucy negotiates until she is blue in the face, she will pay a price that is more than the fair market value. This is the opposite of a good deal.On the flip side, Simon knows he 'can do a deal' on the price because he has the additional £859 conveniently tucked up his sneaky sleeves to play with, but Lucy doesn't know this or how much hidden profit there is in the advertised price of the car.
So the chances are, unless you're a well-seasoned negotiator and enjoy the uncomfortable hassle it brings, while you think you've got a good deal, you could be leaving the dealership disappointed.
Either way, this old-school approach doesn't fit in with an open and transparent car dealership.
Thankfully, it is the year 2020 and we're pleased to say our approach to pricing is fair, trustworthy and transparent.
Enter 'Retail Check' (drum-roll please)!
A game-changing, sophisticated digital pricing-platform.
Retail Check prices a car live to the current market.
It analyses all the competition out there, every single like-for-like car advertised for sale.
Powered by over 8 million daily advert views on AutoTrader, Retail Check is able to produce by far the most accurate fair market value for almost any car of any type.
It takes into account the live market supply, the make, model, specification, mileage, model year and plate as well as any optional equipment fitted. Pretty much everything that's important when calculating a fair used car price.
This means it's 100% relative to the current market supply.
Of course we have a small desired profit, but this way you have the peace-of-mind you're paying the right price. This makes for a convenient, open and honest car buying experience.
This is the future of used car pricing and unlike cheeky Simon, our cars are priced at a fair market value. Don't just take our word for it, have a look, you'll see every single price is unique, no rounding-up to the nearest thousand.
Anyway, enough said about that.
Here's to the future of car buying!
Check out our latest reviews below:
"Purchased a used ford focus from this garage was really worried as I hadn’t seen the vehicle before hand I travelled over 250 miles to pick it up.. I arrived to be greeted by the guy who I had been speaking with who was polite very professional and was very alert to social distancing measures... the vehicle was as he had described if not better and to say I’m happy with it is an understatment... having brought tons of pre owned vehicles over the years I felt peter went above and beyond his job title to satisfy my motoring needs...I wouldn’t hesitate in driving back in the future even if it is 3 hours away and neither should anybody else over all GREAT JOB AND CUSTOMER SERVICE" - Mr F.
"We were hugely impressed by Danny and the Horsepower Motor Centre team. We went there to purchase a car and right from the get go they were professional, friendly, helpful and we ended up purchasing a car (and selling our old one!) which we are really pleased with and was brilliant value. Danny who sold it to us was fantastic; really well informed, helpful, answering our many questions about the car so patiently ;) and a pleasure to deal with. Horsepower are a family owned business which really shows, the service was so much more personal (and quicker) than we've experienced anywhere else before. We really appreciated the 'extras' e.g. full servicing of car pre purchase, free MOTS we'll now have for life etc. We will definitely be returning to Horsepower to purchase any future cars and for any repairs we ever need. If you're considering being a car and/or need repairs done - they are a trusted, highly recommended place to go!" - Mrs D.
"My search for a good used Lexus RX 350 ended very successfully at the door of Horsepower Motor Centre as a result of their advert in Autotrader. My wife and I were greeted by HP's Peter Carroll who showed us the car which we were most impressed with and agreed to go ahead with the purchase. There was no pressure and a fair price was offered for my old Volvo in part exchange. On collection the car was immaculately prepared though a minor fault did emerge two days later but this was quickly dealt with by HP at no extra cost to me. Very satisfied.." - Mr L.