How accurate is the Wheel Index car value calculator?

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kingr
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How accurate is the Wheel Index car value calculator?

Post by kingr »

You might be wondering, how accurate are the figures generated by the Wheel Index car value calculator? How reliable are the values given by employing our car value calculator? How exactly does our car value calculator arrive at the figure it sends you, when you submit a car for appraisal?

Well, snappy apps are a great part of life nowadays, but we all know that many apps have limitations. Indeed, apps are only as good as their accuracy, and this is certainly true of the Wheel Index car value calculator. Any app that does some even modest amalgamation of data and accompanying computing, needs to be spot-on to have any real value, and a car value calculator even more so. Knowing this, we have built the Wheel Index car value calculator as an overreach, with more than enough data required to obtain an honestly accurate figure on any South African car.

What makes ours an accurate car value calculator?

In a nutshell - scope! While the maths is pretty elementary - take a bunch of valid figures and homogenise them to obtain an accurate average figure - the point of departure is critical. Put another way, we first figured those that are deemed to be essential inputs into the database, before trying to arrive at accurate final figures. So we ensured that we have the relevant trading figures from a suitably large sample national base from which to draw intel. Then we made sure that our car value calculator can factor in nuances and tweaks like exact model type, condition, current mileage and any other relevant considerations, before computing for a final result.

Our car value calculator thus draws on more than enough data to satisfy statistical stipulations, qualifies the data for accuracy, and then computes a final figure for your benefit. While this might seem elementary, it’s still remarkable how often people get the basic build wrong, at least when it comes to accurate industry figures, in any industry. When it comes to South African motoring, our car value calculator is an extremely savvy, polished app, and you can rest assured that the values we give are the most accurate to be found! We determined more than the needed intel, built access to it, processed it according to stringent statistical methodology and - voila! - your accurate car value on demand.

Our car value calculator floats in a data lake

By employing a dedicated data provider, we give you highly accurate figures with our car value calculator. Tying into this national software supplier, whose product is employed in many dealership finance deals across South Africa, we glean real-time average values on any make and model traded in the country. Using this historical sales data, based on deals logged by national dealerships, our car value calculator averages out all inputs to determine a fully current, mean sale price or value on the car you’re inspecting.

For example, if a dealership on the finance software sells a 2012 Volkswagen Polo 1.4 Comfortline today, it's recorded in the database our car value calculator accesses each time a user submits a request. The next time a user creates a valuation report for this exact car, we reference the last sale price from what the dealer recorded. Thus, the latest sales figures from national dealerships and other finance deals are added to the historical data for the year or longer, and a current, relevant value is derived. The values issued by our car value calculator are near real-time, countrywide and accurate, based as they are on a diverse assembly of sales figures pertinent to any specific make and model.

There is a single anomaly within the amalgamated data that we use, and it stems from the phenomenon of “loading.” A loaded deal is one where a dealership records a car’s sale price, for example, at R115,000, whereas it in fact officially cost only R100,000. The dealer might have “loaded” it to cover a shortfall in deposit or trade price from the buyer’s side. This way, the dealer gets their price and the shortfall is covered by the finance house, whether they know it or not. That said, precisely because of the extent of data that we draw on with our car value calculator, we iron out such nuances to still arrive at a highly accurate mean average. Indeed, we employ the same software backend that dealerships employ to calculate their trade-in and retail prices, so be assured that the Wheel Index car value calculator will give you the most accurate benchmark available in the country.

So, what are the benefits of our car value calculator?

There are innumerable benefits to employing our car value calculator, probably best encapsulated by the fact that knowing the average value of a car you’re looking at gives you the only logical context from which you can make an offer on the car. A car value calculator sets the tone for discussions and negotiations, and ensures that everyone is on the same page when it’s time to talk price. By the same token, our online calculators can be employed to satisfy yourself that the deal is above-board and legitimate too.

All of that said, never forget that the trade-in and retail value figures from our car value calculator is algorithmic market research. In other words, the figures we supply are merely guides that enable secure, pleasant transactions. Any sale car is worth what someone is willing to pay for it, and several examples show that some cars appreciate in value, in spite of the passage of time, and so demonstrate this principle. A certain car may also have sentimental value - to either you or the seller - and so the final price might be far higher than our car value calculator indicates.

This is nothing more than the human factor, where any car’s ultimate value hinges on people and their desire or distaste for that particular car. With that said, when it comes to insurance premiums and other inputs into a final monthly premium, whether the car is financed or not, an accurate mean value derived from our car value calculator simply lifts a deal into the realm of clarity and professionalism, two essential attributes of any pleasant car transaction.

Conclusion

Many users of our car valuation tool have reported on how accurate the data is in terms of real-world facts and figures. They have concluded deals either very close to the trade-in/retail value we suggested, or at the exact amount, clearly demonstrating that, when it comes to car calculators, the proof is in the pudding. Get easily informed today, and check accurate trade-in and retail values on any car that has caught your eye.
Kurt #3337

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