Data Driven Accurate Pricing of Used Cars : Spinny Star Price Engine


Introducing Spinny Star Price Engine


 

When in the market to buy a pre-owned car, It becomes very difficult for a buyer to determine the actual value of any used car accurately. Car dealers take advantage of this information asymmetry  to serve their own greed and persuade customers into making unfair deals. As a result, the customers often end up getting cheated out of their hard-earned money. To solve this problem, we have come up with the ‘Spinny Star Price’ engine, an algorithm that gives you an accurate price range for any used car.

 

What is Spinny Star Price Engine?

Spinny price engine is a self-learning AI (artificial intelligence) which computes a precise price range of a used car based on its condition, demand-supply match and sale channel (Consumer to consumer, certified/non-certified dealers to consumers and car exchanges)

Spinny Star Price Engine

 

 

How Does The Star Price Engine Work?

-The algorithm

The proprietary algorithm behind the engine has been trained to combine qualitative aspects of the car such as the condition of the car, where the car was driven, with quantitative aspects of the car like depreciation, usage, maintenance & demand-supply match. It has been trained to customize the price range for different channels.

Also Read : Spinny’s Inspection Process : The Key to Your Peace of Mind

-The data points

Spinny price engine is trained on over 500K actual transactions data-point taken from certified and non-certified dealers, auctions, and actual C2C transactions. With live exclusive data plugged in, the algorithm dynamically corrects itself to account for new events like new model launches, changes in taxes and seasonality of demand-supply.

-How accurate it is

Spinny price engine is currently used to power more than 5K transactions monthly. For all the cases, final price discovery after negotiation happened in the price range provided by the engine.

Spinny Inspection

 

How this Engine Helps You

The Spinny Star Price Engine analyses the market value of a particular car and with the help of the Spinny Star Rating to factor in the actual condition of the car, it provides you with the Best and the most accurate dealing price.

Spinny’s Star Rating Engine works on a proprietary algorithm which uses the inspection data to calculate the rating of a car. This rating works as an indicator of the true condition of the car.

Ratinng

Read about the Spinny Star Rating Engine here

 

Spinny Star Price Engine + Spinny Star Rating Engine
=
Most Accurate Prices

 

Learn how we are reimagining the way people buy used cars online
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