Frequently Asked Questions (FAQ)

Here you'll find answers to common questions about our car value forecasting service. We've organized the information into key topics to help you get the most out of CarSage.

Can't find what you're looking for? Have additional questions? We're here to help!
Feel free to reach out to our support team at support@carsage.app.

Understanding the Basics

Q. What is CarSage and how does it help me with car values?

CarSage is your smart companion for understanding car values over time. It helps you:

• See how much cars will be worth up to 10 years in the future
• Find the best time to buy or sell
• Compare different cars' future values
• Make smarter financial decisions about car ownership
• Understand which cars hold their value best

Q. How accurate are the value forecasts?

We use sophisticated AI models trained on current market conditions to predict future values. Our forecasts:

• Consider comprehensive data including make, model, variant, mileage, age, and specifications
• Show both expected values and possible ranges
• Account for market trends and historical patterns
• Are regularly updated as market conditions change
• Provide reliable projections to support your decision-making
  Note: While we use advanced analytics to provide accurate forecasts, actual values may vary based on market conditions. Our projections are for informational purposes and should be used as one of several tools in your decision-making process.

Q. What is value held (retention) and why should I care about it?

Value retention is one of the most important factors in car ownership costs:

• It shows what percentage of a car's original value remains over time
• Higher retention means your car loses value more slowly
• It helps you identify cars that keep more of their original price in the long term
• You can compare retention rates between different models
• It's a key indicator of a car's future resale value

Q. How often is the market data updated?

Our market data is updated monthly or when significant market events occur. This ensures our predictions remain accurate and reflect current market conditions.

Q. What factors influence a car's future value?

Many factors affect how well a car holds its value:

• Make, model and variant
• Age and mileage
• Number of previous owners
• Additional features and options
• Body type and specification
• Fuel type and transmission
• Engine size and performance
• Overall market trends
• Seasonal variations
• Economic conditions

Creating a Car Value Forecast

Q. What's the difference between New Car, Used Car, and My Car valuations?

New Car:

• Perfect for valuing brand new vehicles
• Shows depreciation from the first day of ownership
• Helps you understand which new cars hold their value best
• Ideal for comparing different new models before buying
  Used Car:
• For any existing vehicle you're interested in
• Easy registration number lookup
• Considers the car's current age and mileage
• Great for researching potential purchases
  My Car:
• Specifically for tracking cars you own
• Includes your actual purchase date
• Shows how your car's value changes over time
• Helps you plan the best time to sell

Q. How does the registration number lookup work?

• Enter your UK vehicle registration number
• CarSage automatically looks up your vehicle details from DVLA
• In case there are multiple matching models (with different body types, etc.), we will fill in the search box in the model selection with the found model
• We pre-set current mileage and estimated yearly mileage if there is MOT history on the car
• Registration lookup is for your convenience, it doesn't affect results, you may still edit details as you wish

Q. How do I select the correct car configuration?

• Choose your car's make
• Use filters like body type and number of doors to narrow down options for model
• Important: Make sure to choose the right model, since the same model will appear for different body types and doors
• Select variant that has matching or similar engine size, fuel type, and transmission to your car
• Review the full specification to ensure it matches your car
• If you can’t find the exact matching variant, choose the most similar one

Q. Why do some configurations show different year ranges?

• Year ranges show when the model specification was available in the market data
• Helps identify the generation of your car by registration date
• Some specifications were introduced at different times within the same model
• Choose the specification that matches your car - the valuation will still work even if your car's registration year is after the shown range
• The ranges are simply to help you identify the correct model variant by its original launch date
• If you can't find the exact matching year don't worry, choose the best match

Q. What are additional features and how do they affect value?

• Additional features are optional extras your car may have
• These can include technology packages, comfort features, or styling options
• Including correct features helps provide more accurate valuations
• Some features can significantly impact future value
• Helps distinguish between basic and well-equipped versions of the same model

Reading Value Projections

Q. What do the different lines on the graph mean?

• The main line shows the predicted value of your car over time
• The shaded area shows the potential range of values
• The baseline comparison line shows how similar cars typically perform
• Markers indicate important milestones like purchase date and current value (on the date when valuation was made)
• Different colours help distinguish between your car and market averages

Q. Why is there a shaded area around the main line?

The shaded area represents the statistical range of our value predictions:

• Upper range represents the 90th percentile of forecasted values
• Lower range represents the 10th percentile of forecasted values
• Helps you understand the confidence levels in predictions
• Accounts for market uncertainties
• Gives you a more complete picture than a single prediction

Q. What are value milestones and why are they important?

Value milestones show key points in your car's value journey:

• Purchase price and current value (extracted at the date of valuation)
• Expected value at yearly marks
• Displays expected value and retention percentage at each milestone
• Makes it easier to compare different cars
• Helps track depreciation at standardized intervals

Q. What is the difference between forecasted value and value held?

• Forecasted value shows the predicted price in local currency
• Value held (retention) shows how much of the original value remains as a percentage
• Both help understand depreciation differently
• Value held makes it easier to compare cars at different price points
• Forecasted value helps with specific financial planning

Q. Why is there a faded region in some graphs?

• The faded region shows historical values before your valuation date
• Helps distinguish between past values and future predictions
• Clearer visualization of when the forecast begins
• Makes it easy to identify the current valuation point
• Helps understand the car's value trajectory before and after valuation

Q. Why is value lower or higher than expected?

• CarSage considers many factors beyond just age and mileage
• Values are based on actual market data, not list prices
• Specific features and configurations significantly impact value
• Regional market conditions affect prices
• Similar-looking models can have different specifications that impact value

Q. Why does valuation of the same car change across different valuations?

• Market data is updated monthly to reflect current conditions
• Each valuation uses the latest market trends and transaction data
• Economic factors and seasonal patterns influence values
• Model releases and market preferences change over time
• Changes help you understand real market movements rather than static estimates

Car Comparisons

Q. How can I compare different cars?

CarSage offers two main ways to compare vehicles:

• Compare value forecast milestones side by side using the "Compare Cars" option
• Compare against similar cars in the market using the “Similar Cars” graph
• You can switch between forecasted value and valued held in “Similar Cars” graph
• View how different cars retain their value over time
• Analyze depreciation patterns for different models

Q. How are the overall comparison metrics calculated in the Similar Cars view?

The overall value and retention differences shown at the top of Similar Cars graphs are:

• Calculated by taking the average of differences across all monthly data points
• For value difference: Average of (your car's value - similar cars' value) across all months
• For retention difference: Average of (your car's retention % - similar cars' retention %) across all months
• Both metrics show long-term performance rather than point-in-time comparison
• A positive number means your car performs better on average over the forecast period

Q. What does percentage point mean in similar car comparison?

• Percentage points show the absolute difference between two percentages
• For example, if your car retains 70% value while similar cars retain 65%, the difference is +5 percentage points
• Helps you understand relative performance clearly
• Makes it easier to compare retention rates
• A positive number means your car performs better than average

Q. How are similar cars (baseline) identified ?

• Cars with matching:
• Tier
• Body type (e.g., SUV, hatchback)
• Engine size and power output
• Number of doors
• Transmission type
• Fuel type
• Age range
• Equipment level
• Brand names are masked to provide unbiased comparison
• Represents the average market performance of cars with similar specifications
• Helps understand if your specific model performs better or worse than comparable alternatives

Finance Tools

Q. How do finance projections relate to value projections?

• Finance projections overlay on your value forecast
• Shows the relationship between car value and outstanding finance
• Helps identify key moments like break-even points
• Visualizes equity position over time
• Makes it easier to plan financial decisions

Q. What finance types does CarSage support?

• Personal Contract Purchase (PCP)
• Hire Purchase (HP)
• Lease agreements
• Personal loans
• Any finance arrangement where you know the bulk payments, monthly payments and term

Q. Can I update my finance details after adding them?

• Yes, you can update your finance details as many times at any time
• Modify payment amounts, terms, or start dates
• See how changes affect your equity position
• Update when refinancing or changing terms
• All changes immediately reflect in projections

Q. How does the break-even calculation work?

• Break-even is the point where your car's value equals your remaining finance
• CarSage:
  • Compares your projected car value against outstanding finance over time
  • Shows a clear marker on the graph when break-even occurs
  • Displays both values and finance amounts side by side
  • Considers all payments including initial deposit, monthly payments, and balloon payment
  • Updates calculations instantly when you modify finance terms
• Break-even is important because:
  • It marks when you move from negative to positive equity
  • Helps with timing decisions about selling or refinancing
  • Shows impact of different payment structures on break-even timing
  • Provides clear visualization of your financial position
• The calculation includes:
  • Future projected car value (with confidence ranges)
  • Remaining finance based on your payment schedule
  • All elements of your finance agreement
  • Monthly updates as payments are made

Q. What is equity and how is it calculated?

• Equity Definition:
  • The difference between your car's value and remaining finance
  • Changes continuously throughout your finance term
  • Can be positive or negative
  • Key indicator of your financial position
• Positive Equity:
  • Occurs when your car is worth more than the outstanding finance
  • Example: £17,000 car value - £14,000 loan = £3,000 positive equity
  • Benefits:
    • Ability to sell car and clear finance with money left over
    • Better position for refinancing
    • Protection if car is written off or needs to be sold
    • More flexibility in future car decisions
• Negative Equity:
  • Occurs when you owe more than the car is worth
  • Example: £10,000 car value - £11,000 loan = £1,000 negative equity
  • Risks:
    • Gap between sale value and loan payoff amount
    • Potential issues with insurance payouts if car is written off
    • Limited options for early sale or refinancing
    • May need additional funds to clear finance if selling
• CarSage helps by:
  • Visualizing equity position over entire finance term
  • Showing when equity transitions from negative to positive
  • Updating calculations as market conditions change
  • Allowing comparison of different finance scenarios
  • Helping plan optimal timing for future car decisions

Credits & Account Management

Q. How do credits work and what do they get me?

• One credit gets you one car valuation
• Each valuation includes full value forecasting
• Access to comparison tools and finance analysis
• Detailed milestone analysis included
• You may monthly update the projection for the cars in your inventory

Q. How often should I refresh my car valuation?

• CarSage only allows new valuations after a one-month interval from your last valuation
• Market data is automatically updated monthly or when significant market events occur
• A quarterly refresh (every 3 months) is recommended for regular tracking of your car's value
• Consider refreshing when planning to sell, refinance, or make important decisions about your car
• Historical valuations remain accessible in your account, allowing you to track changes over time

Q. What happens to my valuations if I sign out?

• Your valuations are safely stored in your account
• You can access them again when you sign back in
• All comparisons and analyses are preserved
• Finance details remain secure
• History is maintained for future reference

Q. Can I transfer credits between accounts?

• Credits are linked to your specific account
• Cannot be transferred between users
• Each account maintains its own credit balance
• Purchase credits directly when needed
• Helps maintain security and fairness

Q. How long are my valuations stored?

• Valuations are stored permanently in your account
• Access your valuation history at any time
• Compare historical valuations with new ones
• Track changes in projections over time
• Review past financial decisions