Autotrader price indicators

[dickygrace]

As I’m sure you’re all aware, the majority of Autotrader adverts have a price indicator ranging from lower, great, good, fair to higher price. They’re drawn from algorithms and sometimes accurate, sometimes wholly inaccurate depending on the car. Just wondered as serial car buyers, browsers etc how much do you read into them?

 

[Felonious Crud]

As I’m sure you’re all aware, the majority of Autotrader adverts have a price indicator ranging from lower, great, good, fair to higher price. They’re drawn from algorithms and sometimes accurate, sometimes wholly inaccurate depending on the car. Just wondered as serial car buyers, browsers etc how much do you read into them?

Pinch of salt, Dicky.

 

[ChrisQP09]

I would comfortably say my car is £5k under valued straight off the bat. The condition of a car cannot be changed from ‘good’ assumption to say ‘excellent’. This factor would bear weight on value.

I have to say, I hear MDs saying ‘Ohh unfortunately we cant give you more for spec, customers wont pay for that’. Car sells and dealer advertises ‘amazing spec £1000s spent’ which is all factored into price as next similar car will be considerably lower.

Spec does sell, especially with sports cars and upwards, its what closes the sale most of the time. Rant over and nothing to do with you Richard haha

 

[hashluck]

I think for most of us on here who know what they want, what adds value to us and what we are prepared to pay, it makes very little difference. But, in general, car buyers like to think they have got a bargain, and look at me I paid £5K under book price (for my piece of **** which will need £5K spent on it and still will never be as good as the car I should have bought for £5K more, but hey that is not the point is it?

 

[HenrysDad]

I am sure the algorithms work OK for very common cars where there are lots of data, however for rarities I think pretty useless.

 

[dickygrace]

I am sure the algorithms work OK for very common cars where there are lots of data, however for rarities I think pretty useless.

Yea agreed, so why do they have them for rare and special cars?

 

[Guy]

I think that most of us are enthusiasts, regardless of whether we are buying a toy or a daily. We know what we want and are probably fussier on spec, service history etc so I don't think the algorithm is that relevant. Your 1.6 Ford Focus buyer with 100 for sale may take more notice?
It must be annoying for retailers though!

 

[dickygrace]

I think that most of us are enthusiasts, regardless of whether we are buying a toy or a daily. We know what we want and are probably fussier on spec, service history etc so I don't think the algorithm is that relevant. Your 1.6 Ford Focus buyer with 100 for sale may take more notice?
It must be annoying for retailers though!

It’s annoying in some cases, ie when your well priced stock comes up as ‘higher price’ but flip side is it is nice when it shows as ‘good’ or ‘great’.

 

[Brendan]

We all look at it, but it's just a guide and less relevant to our cars

 

[Andyk]

As I’m sure you’re all aware, the majority of Autotrader adverts have a price indicator ranging from lower, great, good, fair to higher price. They’re drawn from algorithms and sometimes accurate, sometimes wholly inaccurate depending on the car. Just wondered as serial car buyers, browsers etc how much do you read into them?

Pay no attention to them Dicky. As you say some seem OK and some are miles apart. As a car fan I tend to know the prices of the cars I like and where they should be roughly pitched. I think these indicators would be taken into account by maybe people who don’t know what they are looking at.

 

[zagatoes30]

A guide at best, take little notice in reality.

 

[Mavster]

I use them as a guide, then check with other online sources. A retail vs trade price quickly becomes apparent, so look to buy somewhere in between. The rarer the car, the bigger the discrepancies on Autotrader valuations. In my mind I know that Autotrader want you to price a car to sell quick, but they also are the very well positioned to have their finger on the pulse. I'm guessing every connected buyer will take the opportunity to value the car on there.

Some people that take little notice, are either very intelligent or deluded

 

[AlpineAlex]

It depends what I'm looking at. If it's a 2015 BMW 5 Series then yeah I do look at it and use it as a reference point. I assume the average punter does too.

My assumption is that dealers aren't stupid and will have seen it as well so there must be a reason it's High.

But I'd say I do feel re-assured if I see the grey low price indicated.

If I'm looking for something rare and is options or spec specific then I ignore it.

 

[Nayf]

As I’m sure you’re all aware, the majority of Autotrader adverts have a price indicator ranging from lower, great, good, fair to higher price. They’re drawn from algorithms and sometimes accurate, sometimes wholly inaccurate depending on the car. Just wondered as serial car buyers, browsers etc how much do you read into them?

In fairness it’s a lot better than the usual pricing guide organisation (name escapes me) when it comes to the collector/classic cars you trade in.
I do remember a time when, about five/six years ago, they (the agency) said 156 GTAs should be £3500 apiece for a 65k miler, when they were already 3x price

 

[rockits]

Like most it seems it is something I'll look at and adds into my pot of decision making info but wouldn't influence me to buy or not but a car.

Sometimes you might over pay for something you really really would like. Similar might want to underpay in effect for something that might need work, time and money spent or all the above.

Good to have guide but wouldn't make much difference to me if it were there or not. We would all do other investigative work to get clear in our head what something was worth and what we would want to pay independent of this.

Like WBAC, Motorway and What Car valuations I would do on most cars. A ballpark guide and nice to know what the algos might think as might help to reinforce thoughts you already had anyway.

 

[Kiwibrit]

Call me a cynic but I tend to find that the big companies’ cars (I bought a couple from Carshop - part of sytners) are almost always all marked as Great Price. Next to it, I see a lower mileage, better spec one a bit cheaper - obviously, that’s good or higher price!

Money talks!

 

[3hcp]

If you’re talking about Maserati’s they are an irrational or special purchase. I would always go for the colour/spec/mileage/history over a potential £5k saving. I presume this is why some cars in indifferent colours remain unsold despite lower prices.

 

[MikeyMaser]

Like people have said, I'd pay no attention for rare or special cars.

 

[dickygrace]

If you’re talking about Maserati’s they are an irrational or special purchase. I would always go for the colour/spec/mileage/history over a potential £5k saving. I presume this is why some cars in indifferent colours remain unsold despite lower prices.

This is why the algorithms don’t work for things like Granturismos. It doesn’t account for facelifts, colour combos, gearbox choice, clutch and brake replacement, condition, history, number of owners, optional extras, and I don’t think it compensates correctly for different mileages.

 

[MikeyMaser]

Algorithms are like EVs. A fad. Can't see either catching on long term!