Access Market Value API that's more accurate than Edmunds used car values

Vehicle Databases, a leading provider of automotive data APIs, has updated its Market Value API

MONTREAL, QUEBEC, CANADA, March 29, 2024 /EINPresswire.com/ -- Vehicle Databases, a leading provider of automotive data APIs, has updated its Market Value API to allow retrieval of specific market values for vehicles according to their location (state) and mileage.–

In response to user feedback and market demands, Vehicle Databases has implemented an update to its Market Value API. Now, users can input the "state" and “mileage” parameters and retrieve precise market values for vehicles based on location and mileage.
The new update helps to provide more relevant and accurate insights into the current market value of vehicles in the United States.

What is a Market Value API?

A market value API is an Application Programming Interface that provides accurate market values including dealer retail, private party, and trade-in value of vehicles based on their condition (outstanding, clean, average, rough), year, make, model, trim, state, and mileage.

It serves as a great tool for auto businesses such as dealerships, car classifieds, car valuation websites, vehicle history report providers, and more.

Now, with the state and mileage parameters available, these businesses can provide state-specific sales trends, to gain insights into the fair market value of any vehicle.

Data Returned By The Vehicle Databases Market Value API

Vehicle Databases analyze millions of vehicle sales at the state and regional levels and provide different types of market values for vehicles. Used car values returned by this API include:

-->Dealer Retail Value: The dealer retail value reflects the price a dealership might charge for the vehicle. It considers factors such as condition, features, and demand.

-->Private Party Value: This value represents what an individual seller (private party) could expect to receive when selling the vehicle directly to another person. It often falls below the dealer's retail value.

-->Trade-In Value: The trade-in value is the amount a dealer offers when a customer trades in their existing vehicle for a new one. It accounts for wear and tear, mileage, and market conditions.

This easy-to-integrate API supports US/Canada VINs from 1999 to 2024 and provides clearer more accurate data points and values than Edmunds API with detailed documentation for developers to aid the integration process.

Key Features of The Market Value API Update

Here are some of the key features of the market value API update introduced by Vehicle Databases:

State-Specific Search

This feature enables users of the Market Value API to get market values for vehicles on the state level within the United States. By inputting the Vehicle Identification Number, year, make, model, and the "state" parameter into their query, users can retrieve pricing data that is tailored to a particular state.

This is particularly useful for businesses and individuals operating in different states, as it allows them to obtain localized market insights that reflect variations in demand, pricing, and other factors across different regions.

Mileage-Specific Search

The number of miles a vehicle has traveled since it was manufactured is proportional to the current market value of that vehicle. A high mileage reading means more wear and tear on a vehicle and this in turn affects its market value.

With this in mind, Vehicle Databases allow consumers to have a more accurate representation of the market value of their vehicles or the vehicles they are interested in.

Regional Insights

This update makes it possible for businesses and users to have valuable insights into regional market trends and dynamics. By analyzing data at the state level, users can gain a deeper understanding of how market conditions vary across different areas. This can include differences in demand, pricing trends, competition, and other factors that influence the value of vehicles.

Data Accuracy

Ensuring data accuracy is crucial for any market value API and Vehicle Databases prioritizes this with their update. By utilizing reliable data sources and robust methodologies for data collection and analysis, the Market Value API delivers accurate and dependable market value information to users.

Benefit of the Vehicle Databases Market Value API Update

There are several benefits of the market value API to business owners and their users. Here are the main ones:

-->Strategic inventory pricing for dealers: With the new features of this API, car dealerships can strategically and accurately price their inventories based on the condition due to a specific mileage and the sale prices across the particular state.

-->Improved accuracy: The new version of the API ensures more precise and up-to-date market values for vehicles. Accurate pricing information helps businesses make informed decisions and avoid overpricing or undervaluing vehicles and services.

-->Informed decision-making: Businesses can make more informed decisions regarding vehicle pricing. For example, Car valuation sites can provide accurate car value estimates based on the market and location of the vehicles.

-->Improved Customer Experience: By offering state-specific market values and regional insights, businesses can better meet the needs and preferences of their customers, leading to an increase in overall satisfaction and loyalty.

Interested in this unique API? To get started with the API, users can register and claim 15 free credits to test the responsiveness and accuracy of the API. You can also check out their auto salvage database to verify if a vehicle has been declared a total loss in the past or not. This can also give insight into the value of a vehicle.

About Vehicle Databases

Vehicle Databases is a trusted provider of automotive data APIs, committed to empowering businesses and consumers with accurate vehicle information accessible with mobile apps and websites. Our commitment lies in providing lightning-fast access, enhanced scalability, and unrivaled security. Visit our website to explore our comprehensive suite of services.

Fahad Iqbal
Vehicle Databases
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