"People's Price List": from today available to everyone - Walla! vehicle

2021-05-23T13:14:31.556Z

The Ministry of Transport has launched the cooperative price list that feeds on real car prices as declared during the transfer of ownership by mail

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"People's Price List": from today available to everyone

This morning, the Ministry of Transportation launched the "People's Price List," the cooperative and free online price list promoted by Minister Regev, which will publish the prices of used cars as announced at the time of the sale.

Will work?

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One of the problems still facing this price list in order to be a significant tool in the market is that insurance companies, banks and other economic entities still use the old Levi Yitzhak price list to assess the value of the car, whether for tort claims, insurance premium determination, Loan or lien.

The Ministry of Transportation points directly to this price list, saying that: "Currently, the prices of used cars in Israel are determined almost exclusively by one price list, which does not always represent the actual price paid" The result according to the ministry is that the car is currently priced based on a private price list. We are loyal to the market price. "

Will leasing companies and trade chains not report real prices?

(Photo: PR)

Another problem is that as long as the reporting is voluntary, companies have a significant interest in hiding the real price at which they sell the car - such as large leasing or trade-in companies that sell at a significant discount but are interested in a high "official price" to derive discounts from - They will not be in a hurry to declare, or alternatively declare the real price of the car, which leaves a distortion in the data obtained.

According to the Ministry of Transportation, the large numbers are supposed to "align" the results, but what will happen to the models sold mainly to vehicle fleets?

It is not clear.

So the bottom line alongside benefits like actual price reporting as they closed and the lack of commercial effects on government prices, price list success depends not only on voluntary cooperation with suspicious Israeli citizens, but no less, from harnessing insurance and banking bodies to "align" with it - this is the real challenge .

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The collaborative and free price list page: Real data?

(Photo: Screenshot, Ministry of Transportation)

The most advanced is the most lucrative

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What are the differences between the price lists?

Seat Ibiza (Photo: Nir Ben Tovim, Keinan Cohen)

To understand whether the Ministry of Transportation's new price list reflects market prices or those of existing price lists, we examined the differences between the two existing price lists, that of Yitzhak Levy, Yad2 and the Ministry of Transportation price list in 4 popular models (without weighting), and Checking the opening prices of random ads by hand2. These are the results:

Seat Ibiza 2017 (Style, 5 doors, automatic):

Levi Yitzhak: NIS 49,000

Hand 2: NIS 51,200

Ministry of Transportation: 52,663

Kia Sportage 2018 (Urban, 132 hp):

Levy Yitzhak: NIS 95,000

Hand 2: NIS 88,400

Ministry of Transportation: NIS 90,795 Second

-hand ads: starting at NIS

92,000 Hyundai Ionic 2019 (Premium):

Levi Yitzhak: NIS 97,970 Second-

hand ads: NIS 98,600