Scan. Analyze. Buy.
Buying at the right price, starts with knowing - the marketplace, demand and most important, how each car will sell on your lot. Not just a refresh, it’s a cutting-edge new appraisal experience based on the latest advances in automotive AI and a world-class design. The new look and feel streamlines the process, better mapping to the appraisal and trade experience for dealers. The result is faster appraisals and better decisions. The release takes advantage of the latest advances in mobile phones making the entire app perform at lightening speeds.
The CarStory predictions start with understanding the DNA of a vehicle. Our models consider 22 different vehicle details, ranging from Year, Make, Model, Trim to Color, Transmission, Doors and Engine. Next, we analyze the dealership and their historical performance. We compare all of this to the competitive vehicles in a local market, taking into account consumer demand. All of this data gets analyzed by multiple AI models, including a linear regression model, a gradient boosting decision tree and a neural network. Last, we constantly update and retrain these models as new data flows in, helping to further improve the accuracy of our predictions.
To generate deal badges we analyze the market for a minimum of the 20 most similar vehicles (YMMT/Options/Mileage). From there we calculate the different between the market price and the list price. We then stack rank the differences. The vehicles with the greatest delta below the market price are good and great deals. The vehicles at the other end of the spectrum are good and fair. In general, the top 15% of the vehicles will be great deals, the bottom 15% will be fair and the rest will be good deals.