Appraise and price a used vehicle for purchase

What is going on

A private seller is bringing a 2019 people mover, entered in the Vehicle Stock Register as U2323, back for a final appraisal before Torque buys it for retail sale. The Sales Manager wants the appraisal completed end to end: physical inspection, a register check for finance owing or a written-off history, a reconditioning estimate with the workshop, and a recommended purchase and retail price. Torque sells under the Motor Car Traders Act 1986 (Victoria), so the yard disclosures, statutory warranty and the Australian Consumer Law guarantees must be planned now, not after the sale. A recent online review criticised how warranty periods were explained, so the Sales Manager wants the correct wording on every document.

Your brief

Inspect and appraise the vehicle, complete the encumbrance and history checks, obtain a reconditioning estimate, recommend purchase and retail prices with reasons, and prepare the compliant yard disclosure information, updating the Vehicle Stock Register at each step.

Work through it

You do not need to do it all. Doing a few of these will show you what the work is like. Your ticks and notes stay on this device.

• Open U2323 in the Vehicle Stock Register and review the notes, then read the Quality of Work and Warranty Policy sections on inspections and used vehicle warranty.
• Inspect the vehicle using the Pre-Delivery and Vehicle Safety Inspection Checklist as a guide, recording body, tyre, interior and mechanical condition and taking photographs.
• Record the odometer, service history, number of keys and any accessories, and note anything that must be disclosed to a buyer.
• Complete the encumbrance check on the personal property securities register and the written-off vehicle check, and record the results in the stock notes.
• Ask the workshop for a reconditioning estimate using the Repair Quote Template for any defects found, including roadworthy items.
• Calculate a recommended purchase price and retail price showing your reasoning: market comparison, reconditioning cost, statutory warranty exposure and target margin.
• Prepare the yard disclosure information and the correct statutory warranty and consumer guarantee wording for the vehicle's age and kilometres.
• Update the Vehicle Stock Register with the appraisal outcome and recommended prices, and submit your recommendation to the Sales Manager.

What someone in this role would produce

• Completed appraisal inspection with photographs
• Encumbrance and history check results
• Reconditioning estimate
• Pricing recommendation with reasoning
• Draft yard disclosure and warranty wording