Carsales has created a new website and app pricing tool to highlight good value vehicles.
“Price Indicator” is a free service designed to flag ‘good’ or ‘great’ vehicle prices against average market pricing of similar, recently-listed vehicles in the Carsales inventory.
Factors considered include make, model and badge, as well as considering year, engine and kilometres, body style, transmission and standard features.
Not included are cars with a high level of options included with the original vehicle, listings below $5000 and over $70,000, and vehicles newer than two years or older than 15 years of age.
Vehicles recorded as hail-damaged or written-off aren’t included, nor are vehicles with low or insufficient data available.
Carsales chief marketing officer Kellie Cordner says Price Indicator will help consumers “buy with confidence”.
“By eliminating the guessing game when it comes to price, Price Indicator is dynamic and based on live market pricing and can vary from day to day, even if the cars advertised price stays the same,” she explains.
“If the car is a ‘Good Price’ it will sit within the average market price range for like cars, but if it’s a ‘Great Price’ it will be below the average market price range,” Cordner adds.
She says the vehicle price of a car is “affected by different factors, such as the condition and extras”.
“It is the buyer’s responsibility to make his or her own assessment of the car before purchase, like having a qualified RedBook Inspect mechanic examine the vehicle and provide a condition report, so they can buy with confidence and peace of mind,” Cordner concludes.
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