A car’s worth is what it sold for not what it was listed for. For my vehicle your estimate is over twice it’s actual value- no dealer is going to offer you more than the kb.com trade-in value
Show HN: What's My Car Worth?
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Re: Show HN: What's My Car Worth?
#52A car’s worth is what it sold for not what it was listed for. For my vehicle your estimate is over twice it’s actual value- no dealer is going to offer you more than the kb.com trade-in value
This summer dealers have regularly been offering more than the traditional trade values. 1-2 year old used cars are even selling above MSRP when the vehicle was new.
This is due to the new car supply shortage which is one of the reasons used car pricing is (temporarily) cranked up. Agree worth is based on actual sell price vs. listings and valuation can't solely be based on listings. The challenge is right now many vehicles are selling at list price or above (but starting to cool off in the last few weeks).
In the past few months dealers have been making record revenue and profits in this sellers market by holding firm on asking price and negotiating less especially when they have added online purchase tools to their websites that use a one price model (eg you can't negotiate).
Our valuations are a work in progress but they already do leverage several variables tied to the overall market & supply so when used car prices normalize our valuations will adjust accordingly (and to your point lots of people who bought this summer could be underwater on their used cars a few years down the road).
Re: Show HN: What's My Car Worth?
#53I'd love some support for more european makes like SKODA or SEAT!
awesome.
Re: Show HN: What's My Car Worth?
#54Re: Show HN: What's My Car Worth?
#55Hah I tried making an estimator like this using a multiple linear regression model in a weekend. I RE'd the android app of a local car listing portal and wrote a scraper.
The problem was that there were way too many variables not annotated in the json but instead just thrown into the description tag. I manually extracted the key ones like AC, seat material etc but it was never accurate enough mainly because of this.
Maybe one day I will try again with another site or even scrape several sites for more data.