How do we calculate our heycar price rating? 

You’ve come to the right place. Here’s everything you need to know about how we calculate our heycar price rating. 

Firstly, we select a set of cars from recent and current stock on heycar that are similar to the car that we’re calculating the price rating for. Then we look at all the cars and put them into four groups based on how they compare to each other. 

The bottom group, which includes the cars in the lowest 25%, are a "great" price. The next group up, including cars between the lowest 25% and the middle of all the cars, we call "good". The middle group, including the cars between the median (or middle) and 75% of all the cars, we rate as "fair". The top group, including the cars above the 75% mark, we call "high". However, if we notice any cars that don’t fall into any of our categories for any reason, we won't give them a price rating.

How do we choose which cars on heycar to use to calculate our price rating? 

The reference set of “similar” cars will always be made up of cars where the year and model of the car match to the car we’re rating, but other factors such as engine, trim, bodystyle, and transmission will also be considered, as long as there are enough similar cars on heycar to provide useful pricing information. If there aren’t enough similar cars to provide an accurate price comparison, we give no rating.

Different years of the same car model may also be used if we can accurately predict how the age of the car will affect its value. Prices for cars that are no longer on sale will also be adjusted to reflect changes in average prices, with an estimate of what its current price would be, if it was still available. 

Finally, the mileage of the car being price rated will also be taken into account when determining the car's value alongside similar cars.