whats the difference of a car whose market value is say £7290, what price do people normally end up paying for it, below or above market value?
Re: market value and buying price?
not sure about UK but in US there is a bluebook which has pretty good estimates on price for a used car based on mileage and condition.
second, is the car in demand and short supply for some reason?
in general buying the same car from a dealer will be more expensive than from a private seller.
however, a private seller in general can get more selling to a private buyer than trading it in with a dealer.
Re: market value and buying price?
Nads market value is mostly at the higher end. If you buying from a traders, normally charge you market value or sometime higher. If you buy the same car from a private seller, it can be cheaper 10-25%.
Its also important, to check the HPI status of the car so that car may look like new but have hidden past, ie insurance write off, Cat D or Cat C etc. its on £3.95 via https://www.mycarcheck.com/
any car with mileage clocking, insurance write of, stolen etc will have much more less market value for its age, and will be hard to resale in future, hope this helps.