Future Worth: Predicting Resale Values with Machine Learning Techniques

Abstract

With the existing tough economic times, people are interested to purchase used vehicles and restored automobiles. Sales of automobiles are expanding on every day. Leasing an automobile rather than buying one completely is common in many wealthy countries. When the lease period expires, the buyer will have the option of purchasing the car at a low cost. As a result, estimating the resale value of the automobiles is in the best commercial interests of sellers and financiers. The proposed study provided an intelligent, adaptive, and efficient technique for predicting the resale value of a car based on regression methods. Here, the regression model is developed by considering the primary variables that could impact the resale value of a vehicle.