Which cars have high residual values and which have the low? Which qualities in a car have an actual effect on the price? What happens as the car gets older and gains more mileage?
Residual value calculator is an application for evaluating residual values for vehicles. For financing and insurance companies the calculator provides the value of a leased car after the financing agreement.
For a new vehicle we can estimate what the price will be for example after three years and 50 000 miles, whereas the used car residual value estimates are based on the current situation.
Residual value statistics
The residual value statistics that are delivered with the calculator include car type list, weekly car type updates and cluster statistics according to type. Coefficients and residual value diagrams can be integrated into different systems (for example MS Access and MS Excel). In addition the package can include a type register.
How we calculate residual values?
We search for shared qualities in vehicles (create clusters)
We constantly monitor the effects of these qualities in the market
We create a mathematical model
We can utilize the clusters even when a new car comes on the market