How carsales helps you buy with confidence

Buying a new car is one of the most significant financial decisions we make.

So, it’s critical to know that you’re paying the right price – especially considering used car values have increased over the past 24 months as demand has risen and new car availability has been impacted by production delays caused by COVID-19 and a global shortage of semi-conductors.

How do you know if you are getting a good deal?

With carsales Price Indicators, it’s easier.

On many used cars listed on carsales, you will see a Price Indicator tag on the right-hand side of the listing, just underneath the vehicle’s displayed asking price.

Using comprehensive residual value data from our partners at RedBook and real-time market inputs from vehicles for sale on carsales, the Price Indicator tags provide consumers with a quick understanding of where a particular vehicle sits in comparison to all other listings for the same make and model.

With three simple graphics – Around Market Price, Below Market Price and Well Below Market Price – it makes searching for a great deal faster and more transparent.

To determine where the vehicle sits within the price range – and therefore which of the tags are displayed – the RedBook data accounts for parameters such as the vehicle’s year of production, its engine and transmission configuration, body style, standard features and mileage.

Using the same comprehensive residual value predictions that it has been providing to the automotive industry for more than 70 years, as well as live inputs that constantly update the national average price for every individual model on sale in Australia, this is matched against the seller’s asking price to determine which tag is applied.

Price Indicator tags do not, however, take into account optional extras or any modifications made to the vehicle, ownership benefits provided by the dealership or original manufacturer or the condition and servicing history of the vehicle.

And Price Indicators only apply to vehicles that are priced within or below the national average, are less than 15 years old and priced between $5000-$70,000.

Any vehicle that has been written off or has suffered from hail damage cannot have a Price Indicator tag displayed, ensuring the credibility of the data is not skewed by any anomalies.

Any eligible vehicle without a Price Indicator tag is considered to sit above the national price average.

So, drill down into the specifications and the seller’s description to understand if it is fitted with any options that has determined the seller’s value or contact the seller for more information.

In any case, carsales Price Indicators provide a quick and transparent way to search for the best deal on your next new car.