Quote:
Originally Posted by RabidRat
Just as a first-order starting point, you could dump the used listing data from FB Marketplace, Car Gurus, AutoTrader, CL, etc, and look at pricing vs model year vs kms.
I think there's enough there that you can do some rough projections.
I think a lot of us could reasonably accurately guess how much a particular car of whatever year and kms should cost, even taking into account how much to scale the actual purchase price by, vs the listed price. If we can intuit that without numbers in front of us, I'm sure we could do the curve fitting on the ton available data.
For very niche models with sparse data, then yeah, this tool would just have to say something like "insufficient data, can only guess based on the market segment this vehicle is in (e.g. european luxury sub-compact SUV) with a "YMMV" disclaimer lol.
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Many dealerships have a tool that does exactly that - used primarily to help sales managers evaluate trade-ins and price used cars for the retail market according to retail and wholesale market data. It takes into account several factors, such as mileage, number of units on the market, average days on market, location of the vehicle, vehicle condition etc. to help managers determine an appropriate asking price.
I imagine there's enough data in there to model a depreciation curve for most vehicles, but from personal experience, it does nothing for niche vehicles based on how much I've been lowballed in the past.
In your mind, who are the main users for the site?