cap hpi unveils new pricing tool

A new Options Value tool from cap hpi has been developed to help dealers more accurately price optional extras on used vehicles.

Available for free to current subscribers in the Valuation Anywhere product, the solution could prevent dealers from missing out on potentially thousands of pounds in profit by not valuing optional fitted extras accurately.

Derren Martin, director of valuations at cap hpi, said:  “The launch of Option Values creates an industry-leading dataset providing more accuracy than ever before. It’s designed specifically for dealers and remarketers who, up to now, could potentially have been missing out on thousands dependent on the value of optional fitted extras such as a panoramic roof or alloy wheels. The amount saved will differ for every vehicle depending on the make and model.

“Inaccurate values have existed in the industry for years when it comes to optional extras, and many dealers will no doubt have been factoring in their own values. This aims to remedy the situation by offering more defined guidance. With Option Values we’re addressing this and ensuring that our customers no longer end up losing out or attribute their own estimated values.

“Our values will still show the value of the base vehicle, but now dealers can add in the optional extras to get a more accurate understanding of how much those should be worth on the used market. Used in conjunction with our Cap Live daily product, this makes our valuations more accurate than ever.”