CARFAX Canada is powering Kijiji Auto’s new Price Analysis Tool that will help Canadians better understand used vehicles values.
The tool allows for car sellers to set competitive asking prices while using CARFAX Canada’s data sources to gather vehicle information in one place for Canadian buyers to “navigate the used car buying and selling process with ease and confidence,” says Mark Rousseau, President and General Manager of CARFAX Canada.
“In addition to already being the exclusive source of vehicle history information on Kijiji Autos’ platform, we’re proud to now also power their price analysis tool with our comprehensive valuation data.”
A proprietary algorithm calculates the average price for a vehicle by looking at its available history, including, but not limited to, odometer readings and previous damage. It also compares the selling price to similar vehicles nearby, setting a benchmark for both sellers and buyers to determine the car’s value.
“Kijiji Autos was built based on dealer and consumer feedback,” said Leanne Kripp, Director of Autos at Kijiji. “We asked Canadians what we should focus our efforts on when designing this platform, and transparency was highlighted as a key pain point–and opportunity–in the car shopping journey. By integrating CARFAX Canada data into our price analysis tool, we’re able to provide millions of Canadians with a greater level of transparency that will empower them to feel more confident in their car buying journey. We’re thrilled to have this partnership with CARFAX Canada and look forward to gathering feedback on its impact on Canadian car shoppers’ decision-making process.”