JustAutoValue.com Shows how Factors Other than Model Year, Mileage and Condition Influence Auto Prices

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The graphics above prove that the "Other" factors like ownership, service history, garage/parking type, routine maintenance and overall condition make a significant difference in prices, due primarily to the availability of the online data (CarFax, Vin History, etc.), comparative marketing sites (Cars.com, CarGuru.com, etc.), and emerging instant valuation sites like JustAutoValue.com.

Those who are into data science or modeling can learn more about it from my recent book "Pricing Pre-owned Auto Market - A Hedonic Modeling Approach" available on Amazon (search 'Sid Som's Books').

JustAutoValue.com produced these sample valuations in less than 30 seconds each. The site is mobile-friendly so no additional Apps are needed. Try out your own subject pre-owned Car, SUV or Pickup. It's totally FREE and NO login/registration of any sort is required. Nearly 90 Major Brands are currently covered.

Just click on the Brand of your choice on our homepage and follow the prompt. If you need help, use 'TRY IT' from the homepage. Here is the link to JustAutoValue.com:

http://www.justautovalue.com

JustAutoValue.com Shows If Location Arbitrage Exists Between Competing Geographic Markets

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When the current prices of two identical M-series Mercedes are compared across two geographic markets - West and South - an attractive location arbitrage emerges, due largely to the differences in cost of operations (e.g., the cost of operating a dealership in the Bay area is expected to be considerably higher than those in the competing South). Of course, for an average consumer, the cost of transportation and logistics vastly lessens the economic allure.

Those who are into data science or modeling can learn more about it from my recent book "Pricing Pre-owned Auto Market - A Hedonic Modeling Approach" available on Amazon (search 'Sid Som's Books').

JustAutoValue.com produced these sample valuations in less than 30 seconds each. The site is mobile-friendly so no additional Apps are needed. Try out your own subject pre-owned Car, SUV or Pickup. It's totally FREE and NO login/registration of any sort is required. Nearly 90 Major Brands are currently covered.

Just click on the Brand of your choice on our homepage and follow the prompt. If you need help, use 'TRY IT' from the homepage. Here is the link to JustAutoValue.com:

http://www.justautovalue.com
Link to the Book (Kindle or Paperback)

Auto Loan & Dealership Portfolio AVM

JustAutoValue.com Shows how One-Owner Vehicles Narrow the Competition Down

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Though the two vehicles are identical (2010 BMW 528i) here, one has one owner while the other has three. The latter faces a lower market price by roughly $2K. 

The issue of one owner vs. multiple owners is more a psychometric hypothesis than a true econometric (market-derived) one. In other words, potential buyers tend to feel more at home with one-owner vehicles than multi-owner ones, under the impression that the former are better cared for than the latter. Likewise, the dealers of late model vehicles often price their inventory higher than their rental counterparts, making a similar case.

Those who are into data science or modeling can learn more about it from my recent book "Pricing Pre-owned Auto Market - A Hedonic Modeling Approach" available on Amazon (search 'Sid Som's Books' or use the link below).

I produced the above sample valuations from JustAutoValue.com as I own and operate the site, to avoid having to deal with any copyright issues. The site produces these valuations in less than 30 seconds each. It's mobile-friendly so no additional Apps are needed. Moreover, It's totally FREE and NO login/registration of any sort is required. Nearly 90 Major Brands are currently covered.

Just click on the Brand of your choice on our homepage and follow the prompt. If you need help, use 'TRY IT' from the homepage. Here is the link to JustAutoValue.com:

http://www.justautovalue.com
Link to the Book (Kindle or Paperback)

Auto Loan & Dealership Portfolio AVM

JustAutoValue.com Shows how the Remaining Warranty Alone Makes a Difference in Comparable Prices

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Ceteris paribus, vehicle Warranty - even the remaining Powertrain - makes a significant difference in comparable prices. Let's compare the probable current prices of two identical 2014 Ford Explorer XLTs, in terms of features and add-on options. The only difference in this illustration is the actual mileage on the odometer: one with 65K miles while the other one with 55K. Since the Powertrain warranty back then used to cover 60 months or 60K miles, the former would be out of warranty today while the latter would still be covered.    

The 2014 Ford Explorer XLT without the Powertrain warranty would be priced at roughly $23K (orig. MSRP $34.9K+/-), while the other with the remaining Powertrain warranty would fetch over $26K, proving a difference of at least $3K in current value, resulting solely from the remaining warranty.

JustAutoValue.com produced these sample valuations in less than 30 seconds each. The site is mobile-friendly so no additional Apps are needed. Try out your own subject pre-owned Car, SUV or Pickup. It's totally FREE and NO login/registration of any sort is required. Nearly 90 Major Brands are currently covered.

Just click on the Brand of your choice on our homepage and follow the prompt. If you need help, use 'TRY IT' from the homepage. Here is the link to JustAutoValue.com:

http://www.justautovalue.com/

JustAutoValue.com Shows how Vehicle's Trim Alone Makes a Significant Price Difference

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Holding all other factors constant, vehicle's Trim alone makes a significant difference in comparable prices.

While the 2012 LE (in the above example) would be priced at roughly $14K (orig. MSRP $22.6K+/-), the comparable XLE-V6 would fetch roughly $19K (orig. MSRP $30K+/-), nonetheless pointing to a fairly similar decay in prices (meaning Current Price to MSRP).

JustAutoValue.com produced these sample valuations in less than 30 seconds each. The site is mobile-friendly so no additional Apps are needed. Try out your own subject pre-owned Car, SUV or Pickup. It's totally FREE and NO login/registration of any sort is required. Nearly 90 Major Brands are currently covered.

Just click on the Brand of your choice on our homepage and follow the prompt. If you need help, use 'TRY IT' from the homepage. Here is the link to JustAutoValue.com:

http://www.justautovalue.com/

Pricing Pre-owned Auto Market – A Hedonic Modeling Approach (Kindle or Paperback on Amazon)

Check out our Auto Loan and Dealership Portfolio AVM Services

Launching JustAutoValue.com – A Revolutionary 30-Second Auto Valuation Site (FREE & MOBILE-FRIENDLY)

PRESS RELEASE

Homequant, Inc. is pleased to announce the launch JustAutoValue.com, a revolutionary 30-Second Pre-owned Auto Valuation Solution.

The internal algorithm of JustAutoValue.com can be applied to a lone vehicle or en masse to produce excellent "Quick Look" values – from Older to Mid-age to Newer to Upscale to Sports to Hybrid models – without having to enter any comparables data leading to the traditional comps-based valuation. All one needs to know is the make, model, year, mileage and a few general operating characteristics like prior ownership, accident record, service history, warranty, etc. that are easily available from the dealer or Carfax*.

The introduction of the JustAutoValue.com solution makes it now possible to value an entire line of any major make and model in matter of hours, not days or weeks.

The owners of JustAutoValue also understand that all autos even in a given model and year are not the same; instead, each model is highly diverse in terms of features and options within its own little universe causing wide variations in valuations. Consequently, they break down each class into various sub-classes, allowing users to specify where their subject fits in relative to the local competition, thus helping define each vehicle more precisely, resulting in more accurate and uniform values.

Unlike the competition where mileage is the primary value determinant, the underlying data science model that powers their valuation engine takes into consideration a number of other statistically significant and psychologically meaningful hedonic variables, often more significant than mileage alone. For example, accident on record can have significant impact on valuation; likewise, an imminent psychological breakpoint like 100K miles can dampen valuation as well. In short, their invention first helps specify the subject at the competition level, leading to the auto-specific mileage as well as the other vehicle characteristics, thereby producing a highly accurate value at the vehicle level.

No doubt, the fact that the user-inputted subject data and the resulting valuations are not stored anywhere in their system will provide a high level of confidence and relief to the users in the sense that user activities are not being watched, nor are user values secretly warehoused.

The efficiency of their system lies in the uniform implementation of the underlying valuation algorithm. In fact, their tests show an auto – whether Late Model or Sports or Hybrid, with the aforesaid data available – can be valued in less than 30 seconds, making it the greatest scientific "Quick Look" individual and mass auto valuation system ever.

Last but not least, since the JustAutoValue.com web solution is mobile friendly, no additional Android or iOS App is required for smart devices including tablets; their web solution will be self-optimized on all such devices. It is therefore productive to all users – whether one needs to value a single subject vehicle on-the-go or one who needs to value a group of similar or dissimilar vehicles on the desktop. In a nutshell, their invention will revolutionize the pre-owned auto valuation market by adding the scientific "Quick Look" valuation piece hitherto missing.

Homequant's President recently explained: "With the launch of the JustAutoValue.com solution, we are showing our vision and commitment to the pre-owned auto industry as a whole. We are also showing the auto world how to achieve more with less. For instance, unlike the competition, we do not store the subject population; instead, we let our users simulate their subjects considering they know their subjects the best. Anyway, as we add more makes and models to our repertoire, I have no doubt that consumers and professionals alike will be depending on our system as the go-to first-look auto valuation system."

If you'd like more information about JustAutoValue.com, or to schedule an interview, please email them at: 

Info@Justautovalue.com

Available Now: Pricing Pre-owned Auto Market – A Hedonic Modeling Approach (Paperback & Kindle)

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Available on Amazon (query 'Sid Som's Books)