What are my wheels worth?
True Price, a world first, launches in South Africa on June 1. It offers motorists a precise and realistic evaluation of the value of their vehicle. The prices are based on data garnered at thousands of vehicle auctions. Significantly, these evaluations are available FREE OF CHARGE to motorists.
Darryl Jacobson, one of the South African automotive industry’s most well-known personalities, is back! This time around, he’s not auctioning vehicles. Instead, he aims to answer one of the most often-asked questions in the motor industry: what is my car worth?
In order to provide the answer to this question, Jacobson has formed a new company called True Price. The company launches on June 1 and it is expected to revolutionise the trading of used vehicles in South Africa. “We envisage that True Price will be used by millions of South African motorists. Dealers and auctioneers will find True Price to be an invaluable resource too,” says Jacobson.
Two things are truly significant about True Price. Firstly, it is a world first. “We have not been able to find any other company on the planet that offers the same service,” confirms Jacobson.
Secondly, motorists can get the evaluations FREE OF CHARGE. “This is a service that we are providing to the motoring public. For too long now, motorists have had no clue what their wheels are worth. We are aiming to change this,” Jacobson says.
He has three partners in the business: his wife Moira, son Adam (a qualified actuary) and daughter-in-law Riki (a qualified chartered accountant). Together with his partners, Jacobson has been attending auctions and gathering data. “We’re constantly adding to what is already a massive database of prices attained on auction,” he explains.
In conjunction with the gathering of data, the True Price team has established an easy-to-use website. “We have made it as simple to use as possible. Motorists just need to go onto the site – located at www.trueprice.co.za. There is no need to waste lots of time registering. It’s quick and easy! Then they can submit an enquiry online. Within 24 hours, we will give them the real value of their car,” explains Jacobson.
He has launched True Price because he’s been asked about resale values thousands of times. “It is a question that I’ve been asked over and over again: what are my wheels worth? True Price will provide the answer to that question,” Jacobson explains.
He believes that the sales prices achieved on auction are a true indication of what a car is worth. “Nowhere else can you get such a realistic valuation – because these are actual recorded sales. I do not believe that any other database is as meaningful as ours,” he contends.
Jacobson envisages that True Price will be welcomed by South African motorists. “When selling your car, knowledge is power. When trading in your car, it is enormously valuable knowing the precise value of your car – because then you can interact with the dealer with authority. Obviously, the same applies if you’re selling your car privately; you need to know what it’s worth – so that you can market it at the correct price. Finally, motorists have access to this knowledge; thanks to True Price, they will know the exact, realistic value of their wheels,” he concludes.