We help you to choose the perfect vehicle for you
India's First and Only Pricing Engine for Automobiles
Orange Book Value is an algorithmic pricing engine by Droom that suggests estimated market value for any used vehicle. Orange Book Value is built on Droom’s proprietary technologies and data science. It takes into account category, make, model, year, trim, kilometer driven, condition and many other factors to suggest estimated market value. Orange Book Value is category agnostic pricing engine and can suggest estimated market value for car, motorcycle, scooter, bicycle and planes. Unlike other sources that just report historical transaction data that is flawed, Orange Book Value uses data science and empirical evidences in terms of depreciation curves, margins and spreads with intermediaries as any vehicle changes hands, and dozens of factors that have impact on valuation.
The Orange Book Value logo is indicative of the core philosophy behind the brand - providing a fair price for used vehicles which reduces anxiety and facilitates a deal between buyer and seller. With OBV, the buyer and seller would have the same reference price for any used vehicle thus reducing negotiations and buyer or seller remorse.
The 'O' in the logo is made up of two smiling faces, which are symbols of buyer and seller. The color choice also reflects the values of the brand; blue signifies trust, peace, intelligence and loyalty while orange signifies energy and warmth.
The tagline - ‘Resale ka MRP’ firmly communicates OBV as the benchmark price for resale. Like MRP for new products, OBV is the reference pricing for vehicles which acts as an indicator for a fair deal.
|Tyres||Flawless||Minor Scratches||Moderate Scratches, dents||Moderate scratches, Chips, dents, Surface Rust|
|Flame or unibody||Unaltered||Unaltered||Repaired||Replaced|
|Windshield glass, lights, lenses||No Defects||Minor Scratches, Slight Discoloration||Can be repaired||Not repairable|
|Wheels||Flawless||Minor scratches or scrapes||Repairable||Repairable|
|Upholstery and carpet||Clean/like New||Minimal Wear||Stained||Faded/Worn|
|Odor (smoke/mold...)||No Odor||Mildew||Mold||Chemical Compunds|
|Electronics(windows, locks, radio, NAV,etc...)||Fully Functional||Functional With minor faults||Functional With major faults||Repairs Required|
|Engine/transmission||Excellent | condition, fluids may require topping off||Fully operable but require servicing||Fully operable but require spare changes and servicing||Repairs Required|
|Steering||Trouble Free||Operational hindrance||Too heavy to operate||Power steering failure|
|AC/heater||Fully Functional||Cooling/ Heating ineffective||Fan only functional||Full unit not functional|
|Brakes||Less than 15% Wear & Tear||15% - 30% Wear & Tear||30% - 45% Wear & Tear||45% - 60% Wear & Tear|
|Tires||90% Treading Left||75% Treading Left||60% Treading Left||50% Treading Left|
|Maintenance/records||Current, Complete||Current, incomplete||Current, incomplete||Overdue, no records|
|Emissions Test||Cleared||Cleared||Not Cleared||Not Cleared|
|Flood Damage||No||No||Yes, Operable||Yes, Vehicle not functional|
|Odometer tempering||Not tampered||Not tampered||Not tampered||Not tampered|
Orange book value is the most advanced algorithmic and data science based pricing engine to fetch the fair price range of any used automobile in India. It is not limited only to cars and covers a wide variety of categories from cycles to airplanes.
We have seen many regression and past data based pricing engines both in India and the world. Unlike these pricing engine, OBV uses empirical evidences and Droom’s proprietary data science methodologies to evaluate the price of a used automobile.
The factors that goes into evaluation in OBV includes make, model, year and trim of the vehicle, Depreciation of a vehicle over the years of ownership, Odo meter reading, purpose of the transaction (buy/ sell), party at the other end of the transaction (private party/ dealer) and condition of the vehicle.
For calculating the depreciation, we have plotted thousands of depreciation curves and mapped each vehicle running on the Indian soil with these depreciation curves. We have ensured the most accurate depreciation for these vehicles depending upon the number of years of ownership.
Party and purpose of the transaction also plays a major role in determining the value of a vehicle. So, these factors actually increases or decreases the value of the vehicle obtained after depreciation depending upon the scenario.
Any automobile or for that matter any machinery, undergoes wear and tear depending upon the usage. When relating this to automobile terms, the kms the vehicle has run, captured through the odo meter reading gives the factor for capturing the value of the vehicle. The value obtained after step two will either increase or decrease based on the odometer reading.
Anything in this world when maintained well, deserves credit and has a higher value. This holds well in case of used automobiles too. An automobile that is in excellent condition will command a higher value compared to a vehicle not in a good shape. For more details on how to determine the condition of the vehicle, refer to the tab in the side menu.
OBV: Orange Book Value, (OBV) is India's first and only algorithmic pricing engine that suggests estimated market value for any used automobile. OBV is built on Droom's proprietary technologies and data science. Use OBV before you buy or sell an automobile.
Make: It define the manufacturer of the vehicle, like Maruti Suzuki, Honda, etc.
Model: It defines the specific model of the vehicle, like WagonR, City, Alto, etc.
Year: It defines the year of production of the vehicle, like in Maruti Suzuki Ciaz Vxi 2015; 2015 is the year of production of the vehicle.
Trim: It is defined as the designation of the features and standard equipment on a vehicle, like LX, SE, EX, GT, etc. Vehicles with base trim levels have minimal equipment and entry-level prices; a step up in trim level includes more options and standard features along with a price increase.
Purpose: It defines the purpose of using the OBV tool, which means you want to sell the specific vehicle or buy. The purpose can be Buy or Sell.
Kms Driven: This parameter defines how many kms the vehicle is driven for which you want to calculate the OBV.
Category: It defines the category of the vehicle, for example – car, motorcycle, scooter or more.
Party: Anyone who is on the other end of the transaction who is either buying a vehicle from you or selling it to you. Party can be of two types:
Location: The value of a vehicle varies with different geographical locations. The factors that are responsible are – ex-showroom price in the area, the terrain and road surface, and more.
Condition: It defines the condition of the vehicle. It can excellent, very good, good, fair and poor. This is also a factor that determines the price of any used vehicle.
Depreciation: It is the rate which the value of the vehicle decreases year on year.
Leave the guesswork behind! OBV gives you benchmark market value of a used vehicle to give you confidence to buy
Stop pulling a number from the hat! Orange Book Value gives you a fair market value of any used automobile. This helps in gaining buyer's trust and reduce price negotiation, so that you can sell quickly at optimum price.
OBV is a comprehensive evaluation tool to write-off auto loan for used automobile. For more authentication, download used vehicle-pricing report for free.
21st century approach to evaluate the price of a used vehicle based on real-time data science instead of historical data. This helps to analyse the current market value of used automobile to calculate right Insured Declared Value (IDV).
The OBV Printed edition consists of benchmark market prices of used cars, motorcycles and scooters for the span of last 15 years. With an easy to use format, the user is able to find the fair market value of any vehicle which provides them a fair idea of the price at which they can purchase the used vehicle from a dealer, thus reducing the time and efforts spent on negotiations required to complete a deal. The book consists of information about Orange Book Value, tutorial on how to use the book, how to determine the appropriate condition of a vehicle, benefits of Orange Book Value, testimonials of auto industry experts for OBV.