CAP vs Glass
One of the arguments I’ve written about over the years in this column is the difference between CAP and Glass’s valuations. Generally speaking, CAP used to be for the used car dealer, while Glass was for the franchise dealer. Or that’s the way I saw it with my blinkers on. However, I recently had to value one of those vulgar capitalist chariots, the Bentley Bentayga, for a friend. I’ve written about this character before in this column. You may recall he had three Continental GTS on the go at one time and mixed up the keys, resulting in an RAC… sorry, Bentley Assist call-out.
Anyway, a Bentley dealer cold-called him to see if he’d be interested in this Crewe-copy Range Rover. I got the distinct impression from the dialogue that this super SUV isn’t selling as well as might be expected. Certainly, the deal my friend was offered – which took one of his Contigts in part-ex for a choice of used ex-factory ’taygas was alarmingly good value. That’s if you’re in the habit of spending mortgage money on your secondhand motors. Which explains why these 4x4s are now appearing on caravan sites.
Sure enough, a deal was done, but I was astonished to see some £20,000 difference between CAP and Glass values for the same vehicle. This is not something mere mortals should worry about, but it certainly demonstrates some volatility in the market for that particular model.
What I’ve learned from this experience is that, if you are in the market for such a vehicle, don’t so much avoid the diesel – in a Bentley, I ask you? – but spec the SUV to be as practical as possible. This way you’ll avoid the horrendous depreciation most suffer from. Ensure it has a split folding rear bench seat instead of a fixed/reclining two-seat rear row, and order a towbar over a cocktail cabinet.
My point is: if you’re buying a utility Bentley, then make sure it’s usable. More real-world car-buying advice next month.