Cars24's Used Car Price Check tool

We've recently integrated Cars24's used car price look-up feature on Team-BHP. It can be found here. The tool, dubbed as Carculator, allows you to run a quick price-check on used cars by entering basic year and model details.

The returned pricing can be a useful guideline for those planning to sell their car, as well as for those looking to purchase a used vehicle. The Carculator lets a user enter all the details about his car, which include make, model, year, variant, registration state, kilometres covered and number of owners. It then gives the estimated value of the car in the market. Of course, when the value is revealed, Carculator shows a proper price range where the lower amount is valid if the car is in average condition while the highest amount is valid if it’s in excellent condition.

Highlights:

• Easy to use and gets results in no time.
• Once the prices are displayed, you can schedule an inspection to get the final offer and Cars24 will then buy your car.
• Cars24 has purchased over 1.5 lakh used cars giving them a good data point. 
• The algorithm uses over 100 attributes to offer a price.
• Carculator takes into account the newest model launches, government regulations etc. to give you a real-time price.
• If you sell via Cars24, they take care of ownership transfer.

This tool provides a good starting point for used car transactions. Note that more popular cars will be well represented, but some of the rarer cars might have a greater variance due to limited data points. It's a good idea to jump over to our discussion thread for some further research too.

Cars24 has inspected & auctioned almost 800,000 cars in last 4 years, converting more than 25% of them. This has enabled them to build advanced ML models establishing a robust relationship between the price that market is willing to pay (and as importantly, that the owner is willing to accept) for a given car accounting for relatively obvious factors like body-type, age, fuel-type and odometer; to depreciation due to more intricate factors like specific issues in engine or suspension, severity of damage to different parts of the body etc. and even due to seemingly tangential but very critical factors like amount paid in road tax, type of insurance, hypothecation status, ownership count and more. It’s a real capability for them, which they are leveraging in the tool to provide the real time market value of the car.

Here's the link to the Used Car Price Check tool once again.