Used car buyers can now gain insights into the potential pitfalls of their chosen vehicle before they buy, thanks to a new AI service called Should I Buy This Car?.
Developed by automotive intelligence firm MotorIQ, it’s described as a tool to help motorists overcome the ‘ownership blind spot’.
Rather than being a straightforward vehicle history check, Should I Buy This Car? helps used car buyers to better understand the common faults, maintenance risks and potential ownership costs of an individual vehicle make and model.
It does this by using AI to scour multiple channels, including owner forums, reliability surveys and other rich data sources to drill down into likely problem areas.
Both the severity and likelihood of any problems are ranked and rated, along with when they typically appear – and what they are likely to cost to repair.
The tool doesn’t only factor in the age of the car, but also its mileage. This is because ownership risk changes over time, says the firm, and two similar-looking cars can present very different ownership profiles, depending on where they are in their lifecycle.
Crucially, the Should I Buy This Car? service also flags the key evidence or maintenance records used car buyers should ask for during viewing – and what to look and listen for during a test drive.
This is all laid out in a clear and detailed PDF report, with each car given a ‘confidence index’ score out of 1,000.
No expert knowledge of makes and models is required to generate it, either. Used car buyers simply enter the registration of their potential purchase to generate the customised report.
A clearer picture when buying a used car
“The industry has become very good at helping consumers understand a vehicle’s past,” said MotorIQ co-founder, Vik Barodia.
“But buyers still have very little visibility into what ownership may look like next – and that’s often where the biggest financial surprises may emerge.”
He said the idea for Should I Buy This Car? was borne out of the frustration of motorists buying a used car, then suffering an unexpected repair or maintenance bill – “despite carrying out the checks they thought were necessary beforehand.
“History checks remain an essential part of buying used, but the only explain part of the picture. Buyers also want to know what they should specifically be checking before they commit to buying.”
The service also allows users to add an Experian AutoCheck vehicle history report – “therefore giving buyers both historical vehicle information and forward-looking ownership guidance within a single report”.
Reports are available for any make and mileage of car, with prices starting from £15.
We test the Should I Buy This Car? service
As it’s summer, I decided to try out Should I Buy This Car? by running it on a 987-era Porsche Boxster.
The car I chose had covered 72,000 miles, and emerged with a red ‘Low’ MotorIQ score of 229 out of 1,000.
‘Low’ means the vehicle is “more likely to bring higher repair costs or unexpected issues “ and that “extra caution and a thorough inspection are essential”.
The report detailed all the common issues to check when buying a Boxster, including the mileage window, expected cost and overall impact, plus the likelihood of these.
Fascinatingly, there was an entire section on ‘how to road test this vehicle’, with a detailed checklist of exactly what to do during a test drive. There was also a list of ‘evidence to ask for’. Both could be printed out and ticked off during the used car viewing.
I was impressed by how detailed the report was, and both the mileage windows and colour-coded risk markers (from low, to moderate, to elevated) linked to each pointer were helpful.
As a companion to the Experian vehicle history report I also generated, the 15-page document could prove a comprehensive aid when inspecting a potential used car purchase.
All I now need to do is find the right Porsche Boxster and then run another report before going to view it…
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