Price Indicator is a search enhancement feature that provides car buyers with a visual indicator to give them visibility of how competitively cars are priced in the market.
These Business Rules are provided subject to the Main Advertising Terms and Conditions which are incorporated in the rules by reference.
Terms defined in the Main Advertising Terms & Conditions shall have the same meaning in these Rules provided that, should a term be defined in both the Main Advertising Terms & Conditions and these Rules, the meaning of the term defined in these Rules shall have precedence in relation to the Rules.
- “Advertised Price” means the price at which an Advertiser advertises a vehicle on the Auto Trader Platforms.
- “Algorithm” refers to the constant evolving mathematical calculations, incorporating the Market Valuation Data, which compares the valuations of vehicles in the market and determines the Auto Trader Valuation of a vehicle.
- “Auto Trader Valuation” refers to the Auto Trader valuation of a vehicle determined by the Algorithm and adjusted based on the data provided to Auto Trader by the Advertiser through the process of advertising a vehicle (e.g. mileage, optional extras).
- “Dealer Websites” refers to the Advertiser website product offered by Auto Trader to Advertisers pursuant to https://trade.autotrader.co.uk/terms-and-conditions/dealer-websites.
- “Eligibility Criteria” refers to the criteria determined by Auto Trader which a vehicle must comply with to enable a Price Indicator Flag to be applied to the respective vehicle Advertisement, such criteria being that the vehicle must:
- not be a brand new or nearly new vehicle;
- not be a rare of classic vehicle;
- have an Advertised Price in the range of £1,500 to £50,000;
- not be advertised by a private seller;
- be less than 15 years old;
- not be imported or have a write-off category C, D, S or N marker; and
- comply with such other criteria as may be introduced by Auto Trader at its sole discretion from time to time.
- “Price Indicator Flag” refers to the “Low Price”, “Great Price”, “Good Price”, “Fair Price” or “High Price” visual price indicator that is presented to consumers at Auto Trader’s discretion across Auto Trader Platforms (including but not limited to in connection with search listings, full-page Advertisements, SEO landing pages, brand stores and Dealer Websites) and third party locations as a result of an evaluation, using the Algorithm, of each individual vehicle which is advertised by an Advertiser, such indicator to show how the Advertised Price sits relative to the Auto Trader Valuation for such vehicle.
- “Market Valuation Data” refers to data that we have collected from vehicle adverts and sales data from Advertisers, which is used, in conjunction with the Algorithm, to determine the Auto Trader Valuation for such vehicle.
- For the Price Indicator Flag to appear, the vehicle advertised must continually meet the Eligibility Criteria. The Price Indicator Flag will automatically be removed if the advertised vehicle does not continually meet the Eligibility Criteria for the Price Indicator Flag.
- Auto Trader will display the Price Indicator Flag at its discretion across Auto Trader Platforms (including but not limited to in connection with search listings, full-page Advertisements, SEO landing pages, brand stores and Dealer Websites) and third party locations in respect of each vehicle advertised on the Auto Trader Platforms to demonstrate to consumers how Auto Trader assesses the Advertised Price when compared to the Auto Trader Valuation for such vehicle.
- Due to continuous fluctuations in Market Valuation Data, Auto Trader Valuations and therefore the Price Indicator Flag applied to a vehicle may change daily.
- In respect of the Low Price, Great Price, Fair Price and High Price Flags, Auto Trader shall display the precise variance, by way of a Pounds Sterling figure, between the Advertised Price for a vehicle and the Auto Trader Valuation.
- The Price Indicator Flag is a product and search enhancement and Advertisers cannot opt-out or cancel this enhancement, subject to paragraph 3.2. below.
- Price Indicator Flags are currently provided at no cost. However, Auto Trader reserves the right to charge for this product/service at some point in the future, but will only do so on the basis that Advertisers have been provided with notice of any price changes in accordance with our Main Advertising Terms and Conditions.
- Auto Trader reserves the right to amend, modify or remove the Price Indicator Flags at any point with immediate effect
- The vehicle advertised by the Advertiser must meet the criteria of the Algorithm which considers several factors about the vehicle, to determine which Price Indicator Flag to apply in respect of such vehicle. As mentioned above, if the vehicle advertised does not meet the Eligibility Criteria, a Price Indicator Flag will not display on that Advert or will be automatically removed in accordance with paragraph 2.1. above.
- The Price Indicator Flags can only be removed on Dealer Websites, and such removal can only be carried out on a global basis across all vehicle adverts (so the Advertiser can elect either to apply or not apply Price Indictor Flags to all vehicle adverts as a whole on the Dealer Website, and it cannot elect to apply or not apply Price Indicator Flags on a vehicle advert by vehicle advert basis. Please visit the website manager tool to remove the feature on Dealer Websites or contact your Account Manager.
- The definition of Price Indicator Flags when applied to Dealer Websites only will not include a 'High Price’ Price Indicator Flag. In the event that a 'High Price’ Price Indicator Flag would have been applied to a vehicle advert taking into account the Auto Trader Valuation for such vehicle, no Price Indicator Flag will be displayed.