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CarlStreet Announces AI-Powered Used Car Price Index

CarlStreet’s Real-time Market Value (RMV) uses advanced statistical modeling of pricing data at cloud scale combined with AI analysis of sales data to improve the accuracy of local used car, truck and SUV values

The online automotive marketplace CarlStreet announced the general beta availability of their CarlStreet Real-time Market Value (RMV) service. For the first time, CarlStreet RMV gives consumers and dealers up to the minute market values for used cars by leveraging advanced machine learning and big data techniques that more accurately model real local market conditions than other approaches.

Previously in stealth mode: during the beta consumers can research cars on the CarlStreet platform from thousands of dealers throughout California to help them make a more informed decision before their next car purchase.

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“Our deep real-time analysis of both regional and hyper-local pricing and sales data gives unique insights to consumers looking to buy their next car or sell the one they have,” said Lyle Dizon, COO at CarlStreet.

Lyle added, “Never before have consumers had access to such an accurate representation of the value of a vehicle.”

In addition to discovering great deals on used cars, consumers can also sell their cars using an easy, secure process where CarlStreet will help find a buyer and handle all the back-end paperwork and financing details. When selling to a private party, this means that even if they owe money on their car or have a lease return, CarlStreet will help with the financing process to get their buyer a great rate and deal with the payoff. This opens up a range of possible buyers previously not available through traditional private party sales channels.

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For consumers who would prefer not to sell their car privately, CarlStreet offers the ability to get competitive cash offers from dealers to purchase their car directly. Dealers benefit from having access to this inventory from consumers before they trade it in at another dealership who is likely to send it to a physical wholesale automotive auction.

“We started CarlStreet with the goal of modernizing the automotive ecosystem and give consumers more options in a way that’s also friendly to dealerships,” said CarlStreet’s CEO AJ McGowan. “Dealers often get a bad rap but with the launch of CarlStreet RMV we’re taking an important step in increasing price transparency between buyers and sellers. More transparency equals more trust between all parties.”

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