How is Orange Book Value Different from other pricing engines in the world?
Orange book value takes an entirely algorithmic and data science approach to determine the fair price range of any used automobile rather than determining the prices based on past transactions. Also, Orange book value is the only pricing engine that determines the fair price range of any used automobile and not limited only to cars.
Why Orange Book Value is necessary?
Estimating the fair price for any used automobile is not an easy task and often the buyer feels that he/ she has paid more than the actual worth of the vehicle and the seller feels that he/ she has sold the vehicle at a loss. So Orange Book Value is definitely necessary to make sure both the buyer and seller leave the table happy at the end of a transaction.
How Orange Book value benefits the seller?
When a buyer is interested in a listing created by a seller, he/ she will get a pricing from orange book value. This will give trust to the buyer and the buyer will not negotiate with the seller while pursuing the transaction. Also, the seller will have a better throughput with the listings.
How Orange Book Value benefits the buyer?
When a buyer is interested in a vehicle on droom, he/ she will get pricing recommendations from OBV. So he/ she can select a vehicle that is listed well within the fair price range and pursue the transaction.
What do I do after knowing the Orange Book Value of my vehicle?
Knowing the Orange book value for a vehicle can help both during buying as well as selling process. Knowing the fair price range helps a user on Droom Platform make an informed decision.