How we calculate the estimate
This document describes the methodology by which DriveQuote, a service provided by AutoXY S.p.A. through the drivequote.ai website, determines the indicative value of used vehicles.
Basis of calculation
The estimate is generated automatically from the list price of the model indicated by the User, as recorded in the DriveK catalogue. The calculation is not based on price lists or databases relating to the used-vehicle market: the value is determined by processing that list price according to the parameters set out below.
Parameters taken into account
Depreciation coefficients are applied to the list price, determined on the basis of the age of the vehicle, calculated from the year of first registration, and of the declared mileage, compared with the average mileage expected for a vehicle of the same age. The condition of the vehicle and the further information provided by the User, as set out in the table below, also contribute to determining the value.
| Information | Quick | Detailed |
|---|---|---|
| Make and model | yes | yes |
| Year of first registration | yes | yes |
| Mileage | yes | yes |
| Condition | yes | yes |
| Trim and fuel type | — | yes |
| Service history | — | yes |
| Accidents | — | yes |
| Number of owners | — | yes |
| Province | — | yes |
| Optional extras | — | yes |
Calculation modes
The service provides two modes. The quick estimate is produced on the basis of four items of information about the vehicle. The detailed estimate uses nine further items provided by the User: the calculation procedure is the same and operates on a wider set of data.
In both modes, together with the estimated value, the range of values within which the price may reasonably fall is indicated.
Nature and limits of the estimate
The estimate is purely indicative. It does not constitute an appraisal or a professional valuation, it is not issued by persons qualified to carry out appraisal activities and it does not constitute an offer to buy or to sell. The calculation is performed by a deterministic procedure and no artificial intelligence system is used.
The actual value of the vehicle can be determined only following inspection of the vehicle and may differ from the estimated value, as well as from the range indicated.