Why does AutoUncle have a price valuation?
The information about the car's price valuation benefits both buyers and sellers and make the market more transparent:
- If you're a buyer, this helps you make sure the seller has listed their car at a reasonable price.
- If you're a seller, you can use this information to price your car fairly and sell it faster.
How is AutoUncle's price valuations calculated?
The price valuation for each car is found by statistically comparing the car and its price to similar cars in the current market. AutoUncle updates their valuations regularly to make sure that the price valuations are as accurate and up-to-date as possible.
The price valuations are based on similar cars for sale and take more than 100 potential factors into consideration.
List of key factors used by AutoUncle for calculating the price valuation:
- Brand / Make
- Mileage / kilometer / odometer reading
- Equipment variant / trim level
- Engine size
- Fuel type
- Body type and doors
- Gearbox type
- Additional optionals like aircon, xenon lights etc.
When a car isn't price valuated, what does it mean?
AutoUncle is only able to rate cars, where important data points such as year, mileage, body type, engine size, gear and equipment are available. Additionally, in cases where the data about the car is suspicious or analysed to be outside the normal range of similar cars, AutoUncle then chooses not to add a price valuation. An example would be a car with 600 hp where all other similar cars in the market have less than 200 hp. Finally, some rare makes and models, old timers, classic cars and certain types of commercial vehicles where the supply in the market is very limited cannot be rated either.
Why does AutoUncle give cars low ratings?
AutoUncle's market price is an expression of what the car's asking price ought to be compared to similar cars for sale in the current market given the data available in the online listing. If a car has a low rating, it means that there are other similar cars in the market with a better price.
AutoUncle's price valuation - is that the price I can expect to get from a dealer if I sell my car?
No. AutoUncle's market price is an expression of what the car's asking price ought to be compared to similar cars for sale in the current market.
If you sell, part-exchange or trade your car in at a dealer, you cannot expect to get a price equal to AutoUncle's market price estimate. Typically, you will be offered a quote from the dealer which will be 20-40% below AutoUncle's market price. The market price estimate is purely based on asking prices (retail prices).
Remember that the dealer has to offer warranties, service the car and earn a profit on the car.
Can the valuation be wrong?
The valuation can be less accurate in cases where the number of similar cars in the market is low. Additionally, if a wrong equipment variant, year or similar is provided in the listing, the price valuation can be inaccurate. Therefore, it is always a good idea to double check the data provided in the listing with the dealer or the seller of the car.
Do you think AutoUncle's valuation is wrong for a specific car?
Please send a mail to firstname.lastname@example.org and we will get back to you as soon as possible.
AutoUncle daily scans and valuates 10+ million used car listings in 12 European countries to provide up-to-date market-based price valuations, which daily help millions of consumers and professionals make better decisions when buying and selling cars.