Valuations and data company HPI has released an online vehicle valuations service to consumers, bringing its consumer offering more closely in line with its motor trade services.

According to the company, the service will give consumers information on the total cost of ownership of a vehicle during its lifespan, including depreciation figures.

The tool, found at hpivaluations.com, is aimed at consumers buying and selling cars and LCVs in the used car market.

The pricing structure includes a free tier, including the price at new, a private sale valuation, a trade-in value and a forecourt price.

A paid for tier, costing £2.95 will include this, as well as future values for cars up to 5 years, and previous depreciation on all cars up to nine years old, where valuations are available.  It also includes various cost of ownership factors, such as fuel, tax, insurance, service and maintenance and the exact trade-in value.

Fernando Garcia, Consumer Director at HPI, said: “The new valuations service will help motorists understand the true cost of a vehicle and empower them to get the best deal.  We believe this to be one of the most accurate vehicle valuation service available to UK consumers, which makes HPI Valuations an essential tool for those buying and selling a used car.

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“It’s not just about the asking price; it’s equally important to know how well the car will hold its value and just how much it will cost the owner to run over the years. Understanding the true value of a vehicle before buying or selling offers financial protection as well as peace of mind, ensuring consumers don’t undersell their car or pay out more than they should for a new one.”