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Revenue Commissioners Open Market Value

  • 07-02-2013 4:29pm
    #1
    melon_collie
    Registered Users, Registered Users 2 Posts: 414 ✭✭


    I am interested in peoples view on this. Is the Open Market Valuation you get on the VRT calculator (Revenue.ie) an accurate reflection of what a car is worth? I am interested in going to view a used car at the weekend that is being sold by a dealer. In my opinion the car is over priced and it is about €2,000 over the OM value given for it on the VRT calculator. Can I use this as a legitimate bargaining tool or am I wasting my time?


Comments

  • #2
    CiniO
    Registered Users, Registered Users 2 Posts: 16,069 ✭✭✭✭CiniO


    OSI wrote: »
    You're wasting your time bringing up the VRT figure. What you need to measure it against is how much similar cars are selling for.

    But amount for which similar cars are selling for, should be equal to OMSP.
    If it's not the case, it means that revenue is not doing proper job with estimating OMSP.


  • #3
    Bigcheeze
    Closed Accounts Posts: 2,858 ✭✭✭Bigcheeze


    You say the car is 2k over priced. If that's 2k on a 5k car it's a big deal. If it's 2k on a 50k car then that's just a bit of negotiation.

    Anyway if you think it's over priced, get it down to what it's worth or don't buy it.


  • #4
    mgbgt1978
    Registered Users, Registered Users 2 Posts: 4,261 ✭✭✭mgbgt1978


    OMSP "should" fall somewhere between the asking price in a private sale & a retail sale.
    You will get nowhere using the OMSP as a bargaining tool, better to point out worn tyres or a big bill (timing belt) looming.


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