carsales Price Indicator gives car buyers confidence
Ever wanted to know if the used car you're looking at is a good deal, selling around market price or even below market price?The carsales Price Indicator tool is available across the carsales.com.au website and app, providing a free service that delivers information to improve consumer confidence when shopping for a new or used car. In a local automotive category first, the carsales Price Indicator tool interrogates the asking price of cars listed for sale and rates them.
If you see a tag that reads Below or even Well Below Market Price the car you're looking at is good value. It's as simple as that.
If you see a tag with Around Market Price, then the car in question is judged to be equal or better value than the current market price, considering factors such as its age and mileage.
In the past, you'd either have to complete hours of research or find a very savvy (sometimes bearded) used car guru. Now it's child's play – carsales’ new tool will tell you straight up if it's a great deal.
How does the new carsales Price Indicator work? It leverages RedBook LiveMarket data and compares the listed price against the market average price of similar cars listed on carsales, Australia's number one online destination to buy and sell a car.
Some of the factors the new technology analyses to determine around, below or well below market price include the make, model, mileage, standard features and transmission type. For example paying $8000 for a manual Toyota Corolla built in 2005, with 200,000km on the clock, is not going to feature the Around or Below Market Price indicators.
The carsales Price Indicator tool is automatically added to relevant car listings on the carsales website. Some ads are excluded, including cars priced under $5000 or over $70,000. Vehicles under two years old or over 15 years old are also excluded and things like hail-damaged cars won't be eligible, nor will some niche models with insufficient data.
The Price Indicator tool is designed to help Aussies buy with confidence and ease, by eliminating the guessing game when it comes to price.
For more FAQs on the carsales Price Indicators, visit our carsales Help Centre.
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