MarketCheck Price™

The MarketCheck Price™ API provides sophisticated vehicle price predictions using proprietary machine learning models trained on extensive automotive market data. This powerful tool leverages advanced algorithms to deliver accurate price estimates based on real-time market conditions and comprehensive vehicle characteristics.

The API utilizes machine learning models trained on massive datasets containing over 1 million recently sold vehicle listings from 15,000+ dealerships nationwide. Models are retrained weekly to ensure predictions reflect current market dynamics and pricing trends.

The API offers two distinct service tiers, each designed for different use cases and requirements:

• Base Tier: Essential price predictions for basic valuation needs
• Premium Tier: Enhanced predictions including comparable vehicle listings for comprehensive market analysis

Each tier provides increasingly sophisticated analysis capabilities, from simple price predictions to comprehensive market comparisons. This enables dealers, lenders, insurers, and automotive professionals to choose the level of detail that best fits their specific needs and workflows.

Model Training Data & Accuracy

The API leverages comprehensive training datasets with the following characteristics:

• Dataset Size: 1+ million recently sold vehicle listings
• Time Period: Last 3 months of sales data
• Data Sources: 15,000+ dealerships nationwide
• Update Frequency: Weekly model retraining

Data Features

• Vehicle Specifications: Year, make, model, trim, body type, transmission, drivetrain, fuel type, powertrain, colours, features
• Location Data: Postal code and geographic information
• Condition Factors: Mileage, dealer category
• Market Trends: Recent pricing patterns for comparable vehicles

Model Accuracy

• Overall Performance: 93%+ R² score on holdout datasets
• Recent Vehicles: 90%+ predictions within 10% margin (vehicles <10 years old)
• Older Vehicles: 80%+ predictions within 25% margin (vehicles >10 years old)
• Real-Time Predictions: Current market conditions, not future forecasting

API Tiers & Endpoints

The MarketCheck Price API offers two distinct tiers, each with its own endpoint and feature set:

Base Path

The base path varies depending on the tier you want to use:

Base Tier:

GET https://api.marketcheck.com/v2/predict/car/uk/marketcheck_price

Premium Tier:

GET https://api.marketcheck.com/v2/predict/car/uk/marketcheck_price/comparables

The following example demonstrates the Base Tier API for essential price predictions:

import axios from 'axios';

const options = {
  method: 'GET',
  url: 'https://api.marketcheck.com/v2/predict/car/uk/marketcheck_price',
  params: {
    api_key: 'YOUR_API_KEY',
    vrm: 'GGZ7164',
    miles: 50129,
    dealer_type: 'independent',
    postal_code: 'E12 5LH'
  },
  headers: {Accept: 'application/json'}
};

try {
  const { data } = await axios.request(options);
  console.log(data);
} catch (error) {
  console.error(error);
}

Request

Both tiers of the MarketCheck Price API share the same parameter requirements. The core prediction algorithm requires specific vehicle identification and market context to generate accurate price estimates.

Parameters

Required Parameters

vrm

• Vehicle Registration Mark that uniquely identifies the vehicle
• Used to decode vehicle specifications and find comparable vehicles
• Must be a valid VRM format
• Example: vrm=YF74XHY

miles

• Total mileage the vehicle has been driven
• Critical factor in determining vehicle condition and market value
• Required for used vehicles (typically not applicable for new vehicles)
• Example: miles=45000

dealer_type

• Dealer classification that affects pricing models
• Supported values: franchise, independent
• Franchise dealers typically have different pricing patterns than independent dealers
• Example: dealer_type=franchise

Location Parameters

postal_code

• Postal code for the vehicle's location or target market
• Provides precise geographic context for pricing
• Example: postal_code=LS11 5HL

Use Cases & Examples

Base Tier: Essential Price Predictions

The Base Tier provides core price prediction functionality, ideal for basic valuation needs and quick price estimates.

Use this tier when you need:

• Quick price estimates for vehicle valuation
• Cost-effective predictions for high-volume applications
• Basic price validation for inventory management

Example:

import axios from 'axios';

const options = {
  method: 'GET',
  url: 'https://api.marketcheck.com/v2/predict/car/uk/marketcheck_price',
  params: {
    api_key: 'YOUR_API_KEY',
    vrm: 'GGZ7164',
    miles: 50129,
    dealer_type: 'independent',
    postal_code: 'E12 5LH'
  },
  headers: {Accept: 'application/json'}
};

try {
  const { data } = await axios.request(options);
  console.log(data);
} catch (error) {
  console.error(error);
}

Premium Tier: Market Analysis with Comparables

The Premium Tier includes all Base Tier features plus access to comparable vehicle listings, providing comprehensive market context for pricing decisions.

Use this tier when you need:

• Detailed market analysis with comparable vehicles
• Understanding of local market pricing patterns
• Comprehensive pricing context for negotiations
• Market positioning for inventory pricing strategies

Example:

import axios from 'axios';

const options = {
  method: 'GET',
  url: 'https://api.marketcheck.com/v2/predict/car/uk/marketcheck_price/comparables',
  params: {
    api_key: 'YOUR_API_KEY',
    vrm: 'GGZ7164',
    miles: 50129,
    dealer_type: 'independent',
    postal_code: 'E12 5LH'
  },
  headers: {Accept: 'application/json'}
};

try {
  const { data } = await axios.request(options);
  console.log(data);
} catch (error) {
  console.error(error);
}

Loan and Financing Applications

Use MarketCheck Price predictions to support lending decisions, determine loan-to-value ratios, and assess collateral value for automotive financing.

Example for Financing:

import axios from 'axios';

const options = {
  method: 'GET',
  url: 'https://api.marketcheck.com/v2/predict/car/uk/marketcheck_price',
  params: {
    api_key: 'YOUR_API_KEY',
    vrm: 'YF74XHY',
    miles: 39950,
    dealer_type: 'franchise',
    postal_code: 'LS11 5HL'
  },
  headers: {Accept: 'application/json'}
};

try {
  const { data } = await axios.request(options);
  console.log(data);
} catch (error) {
  console.error(error);
}

Insurance Valuation

Integrate price predictions into insurance workflows for claim settlements, coverage determinations, and risk assessment.

Example for Insurance:

import axios from 'axios';

const options = {
  method: 'GET',
  url: 'https://api.marketcheck.com/v2/predict/car/uk/marketcheck_price/comparables',
  params: {
    api_key: 'YOUR_API_KEY',
    vrm: 'YF74XHY',
    miles: 39950,
    dealer_type: 'franchise',
    postal_code: 'LS11 5HL'
  },
  headers: {Accept: 'application/json'}
};

try {
  const { data } = await axios.request(options);
  console.log(data);
} catch (error) {
  console.error(error);
}

Dealer Inventory Management

Use predictions to optimize inventory pricing, identify market opportunities, and make informed purchasing decisions for dealerships.

Example for Inventory Pricing:

import axios from 'axios';

const options = {
  method: 'GET',
  url: 'https://api.marketcheck.com/v2/predict/car/uk/marketcheck_price/comparables',
  params: {
    api_key: 'YOUR_API_KEY',
    vrm: 'BA69TVW',
    miles: 55715,
    dealer_type: 'independent',
    postal_code: 'CV37 0AH'
  },
  headers: {Accept: 'application/json'}
};

try {
  const { data } = await axios.request(options);
  console.log(data);
} catch (error) {
  console.error(error);
}

Response

The response structure varies by tier. Base Tier returns price predictions only, while Premium Tier adds comparable vehicle data.

Base Tier Response Schema

interface BaseMarketCheckPriceResponse {
  marketcheck_price: number; // Predicted market price
}

Premium Tier Response Schema

interface PremiumMarketCheckPriceResponse {
  marketcheck_price: number; // Predicted market price
  comparables: Comparables; // Comparable vehicle listings
  recent_comparables: Comparables; // Recent comparable vehicles
}

interface Comparables {
  num_found: number; // Number of comparable vehicles found
  listings: Listing[]; // Array of comparable vehicle listings
  stats: Stats; // Statistical data for comparables
}

interface Listing {
  id: string; // Unique listing identifier
  vehicle_registration_mark: string; // Vehicle Registration Mark
  price: number; // Listed price
  miles: number; // Vehicle mileage
  dom: number; // Days on market
  dom_180: number; // Days on market (180-day period)
  dom_active: number; // Days on market (active period)
  dos_active: number; // Days on site (active period)
  year: number; // Model year
  make: string; // Vehicle manufacturer
  model: string; // Vehicle model
  trim: string; // Vehicle trim/variant
  vdp_url: string; // Vehicle Detail Page URL
  photo_url: string; // URL to vehicle photo
  dealer_id: number; // Dealer identifier
  dealer_name: string; // Dealer name
  latitude: string; // Geographic latitude
  longitude: string; // Geographic longitude
  mc_website_id: number; // MarketCheck website identifier
}

interface Stats {
  min: number; // Minimum value
  max: number; // Maximum value
  count: number; // Count of values
  missing: number; // Missing values count
  sum: number; // Sum of values
  mean: number; // Mean average
  stddev: number; // Standard deviation
  sum_of_squares: number; // Sum of squares
  median: number; // Median value
  percentiles: Percentiles; // Percentile data
}

interface Percentiles {
  "5.0": number; // 5th percentile
  "25.0": number; // 25th percentile
  "50.0": number; // 50th percentile (median)
  "75.0": number; // 75th percentile
  "90.0": number; // 90th percentile
  "95.0": number; // 95th percentile
  "99.0": number; // 99th percentile
}

Success Response

• 200 OK - Returns the appropriate response object based on the tier used
• All monetary values are in GBP (British Pounds)
• Mileage values are in miles
• Geographic coordinates are in decimal degrees

Error Response

Error Response Format

Most error responses follow this structure, except for 502 and 503 errors:

{
  "code": <HTTP status code>,
  "message": "<Error message describing the issue>"
}

See Also

• Inventory Search
• Car Listing Details
• VRM History