The term “market value” should be no new term to car owners, buyers, enthusiasts, and dealers, as it is highly considered by buyers and sellers when it’s time for a car purchase. The market value is the average of a vehicle’s retail price used to represent the current worth of the vehicle.
The vehicle’s market value may change over time due to factors such as age, mileage, condition, and market demand. This makes it difficult to determine the accurate market value without the proper vehicle market value API.
What is a market value API?
A market value API is an application programming interface that is used effectively to provide real-time data on the market value of specific vehicles. The market value for vehicles provided is generated by analyzing market value trends over time and the current market trends and prices of any specific vehicle.
The market value API provided by Vehicle Databases is a really handy tool for dealerships and other businesses in the automotive industry, as they can gain instant access to accurate vehicle market value information.
As earlier mentioned, the market value of a vehicle is highly dependent on its make, model, trim, color, mileage, and overall condition. The higher the vehicle’s reliability, the higher its market value.
READ ALSO: Vehicle Data Extraction API To Obtain Reliable Data
Benefits of a market-value API for dealerships and automotive businesses
For dealerships and automotive businesses, a car value API can easily be integrated into any mobile application or website to provide market value for customers when they request car market value checks. Some of the benefits of incorporating this API into dealerships and other businesses include:
- Accurate market values of new and used cars.
- Car values based on vehicle condition
- Improved sales.
- Saves time.
Accurate real-time information on a car’s market value
With a car price API, used car dealerships and other automotive businesses can provide accurate information on a vehicle’s worth to their customers. These APIs can accurately analyze a vehicle’s worth and fair market value by vehicle’s year, make, model, trim, color, age, mileage, and overall condition. After considering all factors, an accurate average is provided for customers.
Boost sales and efficiency
Working with a vehicle’s car value API, dealerships, and other automotive businesses can easily boost their sales, efficiency, and even ratings. When consumers request the current market value of vehicles, they expect some delay. Providing this information almost instantly increases your ratings and effectively boosts sales.
Saves time
With a market value API, dealerships and automotive businesses can save time that would have been spent searching for the market value of vehicles.
Vehicle Databases introduces a new feature in the Market Value API: Search market value by year, make, and model.
There are several companies offering market-value APIs, but only a few offer high-quality APIs. The vehicle market value API provided by Vehicle Databases is highly recommended as it provides instant access to market estimates for vehicle buying, selling, and trading. The vehicle market values provided by the car market API are industry-based, completely accurate, and up-to-date.
These are some of the reasons why Vehicle Databases VIN APIs are highly recommended:
- Vehicle Databases constantly improve their market value API to ensure it is reliable and has an easy-to-use user interface. Recently, the market value API provider, Vehicle Databases, took a step forward to include the option of searching for the market value by YMM (year, make, and model).
- The market value API provided by vehicle databases leverages high-tech systems to provide dealerships and automotive businesses with bulk, accurate car-price information whenever it is required.
- With Vehicle Databases, dealerships and their customers are not just provided with the fair market value but also given access to the dealer retail value, private party value, and trade-in value based on the vehicle’s condition.
READ ALSO: OCR Vs Machine Learning | Which Technology Works Best?
Who can use the Vehicle Databases market value API?
There are predictions that suggest that the average price of vehicles may drop this year. With the API, car prices can be closely monitored and businesses can remain current. The API can be integrated into the websites and applications of used car dealerships, classified car websites, car valuation websites, and other automotive businesses.
Testing the Vehicle Databases Market Value API by year, make, and model.
After a successful sign-up and account creation, getting the market value of a vehicle by year, make, and model with the market value API provided by Vehicles Databases, requires just a few simple steps. The steps are:
Step 1: Log in to your account
During signup, you must have been provided with your login details. Simply enter your email address and password. Next, click on “Log in”.
Step 2: Go to API Services.
Now that you have successfully logged in, on the top left of the page, you will see an option that says “API Services.” Click on it, and you will be taken to a page where you can access the API services you subscribed to.
Step 3: Click on “Market Value”
Among your subscribed API services, you should find market value. Click on it and proceed to the next step. Here, you will be given the option to search by VIN (Vehicle Identification Number) or by year, make, and model.
If you’d prefer to search by VIN, select “VIN” and gain access to the market value of the specific VIN. To get the market value of a vehicle by year, make, and model, you would be required to select “Year, Make, and Model.”
Step 4: Provide the vehicle’s year, make, and model of interest.
Now that you have gotten to this step, you are almost done. The next step is to select the year, make, and model of the vehicle you have in mind, and you will receive the records you requested for.
