Singapore 29th April 2022
Looking to sell you car and not sure where to find a reliable comparison? Tired of trawling through pages and pages of classified advertisement or haggling with dealers?
Motorist today announced it’s Vehicle Price Predictor. One of thirty features in it’s Motorist app and first of it’s kind Singapore. The new feature will offer real-time valuation(daily updates) of the individual user’s vehicle. Powered by AI that was backed by more than seven years of proprietary valuation data, Motorist claimed that the price predicted is accurate up to 95% dependent on the make and model of the vehicle.
“The vehicle Price Predictor’s greatest value proposition is the ability to show the estimated value of a car without the owner having to trawl through past data that’s not easy to find. This way, users no longer have to make a blind guess when they are able to just input the data into the Motorist app to get immediate, real-time valuations” Damian Sia, Founder and CEO – Motorist
The Price Predictor valuation is based on 21 attributes that are country specific, for example COE premium and quota are only applicable in Singapore. Thanks to Motorist’s growing data base of more than 270,000 valuations with a total transaction value of over SGD 900 million. Motorist is able to harness these data to predict future value accurately.
The Predictor is able to predict the value of the vehicle with a 5% margin of error for most of the vehicles in the market. For newer or more exotic vehicles like super cars, the margin of error will be higher due to the lack of data.
The app can also be customised to send custom alerts and prompts to users. These includes depreciation values that correspond to the users target selling price.
Motorist aims to be the super app for all vehicle owners, with over 30 features in the Motorist app. The app not only aims to make buying and selling of vehicles easier but aims to be an all rounder eco-systems for vehicle owners. Users will be able to pay for fines, check updated petrol prices and even chat with other vehicle owners through the carplate messaging system in the event of any incident.
So vehicle owners who are looking for a more streamline experience in managing all your vehicle owning needs, do download the Motorist app.