Open Market Selling Price (VRT Calculater)

henry hill

When using the VRT calculater, does anyone know how accurate the OMSP for a car is?? Could you use this price as a guideline for a second hand cars true value (ie. wholesale value)???

Dilbert75

It generally calculates a bit on the low side, while "book value" is a bit on the high side (a dealer will never give you book value for a trade-in, for example). Real value is somewhere in between.

Guy:Incognito

Where do insurance companies get their valuations? Ie how do they decide how much you get if your car is written off?

henry hill

Not sure how much an insurance company would pay out but its bound to be the minimum amount possible. I know a guy who parked his car and came back to find it written off. Not sure what car it was but the insurance gave a fair bit less then the car was worth

Dilbert75 wrote:

...while "book value" is a bit on the high side...

Where do a garage get book values from?

kluivert

OMV on new cars comes from the dealers themselves.

OMV on second hand cars is unpublished therefore it could from anywhere.

I think there was a case a few months ago in which the high court order the revenue to publish details on there unpublished open market value valuations and its source.

Has anyone heard anyone word about this.

digitaldr

henry hill wrote:

Not sure how much an insurance company would pay out but its bound to be the minimum amount possible.

Someone crashed into me recently and wrote may car off. I disputed the assesors valuation - sent them afew printouts off carzone.ie etc - and manged to get them to revise value from €6,600 up to €7,500!

kluivert

Jesus will you think about what your saying here.

The OMV is considerably lower on the Revenue site that in most forecourts or privates sales so shout the mouth or you ll give them another excuse to raise it again.

Ay Cee

So is there any way to get the "book" price? I read some insurance tip before to insure the car for the book price cos that's all the company would pay out.

Would also be helpful while going to garages, be good to know the prices. Fair enough they have to make a profit, but not an extortionate amount

Guy:Incognito

Why the hell are the insurance companies allowed to decide the value themselves? The only thing that will result in is them paying out the very least they can get away with.

At the end of the day you can't even blame them because anyone would do the same.

Ay Cee

So any knowledgable soul know how this book price is worked out or where it can be found? Is it like the holy grail for car owners?

ambro25

Isn't there an Irish equivalent to the UK 'blue book'?

528i

The revenue absolutely 'ride' ppl who cannot even spell calculator..

ta2kev

Dealers use a tool called a "car guide", which gives the guide price of all cars based on the year and mileage. This is updated monthly to allow for new models and depreciation. This used to come in the form of a book but now most garages have the PC version. When you're trading in a car you can't expect to get the "book value" for it. A garage has to service, valet and repair all body work on the car and a proffit has to be added.

bbability

I see this thread is a bit old but just thought I'd ask the question once more since revenue will not answer my question... where or where do they get their OMSP's from???!!!???

If you feel that the price is not what the current market value is reflecting, Is there any way to appeal the VRT price?

Seth Brundle

Please don't resurrect old threads - start another one.