Predicting Used Car Prices with Heuristic Algorithms and Creating a New Dataset

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Mehmet Bilen


Turkey is one of the countries with a high-volume second-hand car market.. Today, used car sales advertisements given over the internet have accelerated this market even more. This situation has caused difficulties in determining the most suitable price for the vehicle to be bought or sold. The problem of determining the price of second-hand vehicles causes both buyers and sellers to have difficulties since it contains many variables. In this study, it is aimed to determine the best prediction model by using heuristic algorithms for the solution of this problem. In this direction, a new dataset including car features and price information was created by compiling the advertisements on the sites that provide car buying and selling advertisement services over the internet, and this dataset was shared for researchers to use in the model development phase. As a result of the estimation processes made with different algorithms and models on the dataset, it was seen that the Fisher+ANN model provided the lowest estimation error with MAE 0.01050, MSE 0.000281 and the highest performance value observed with R2 was 0.8958.

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BILEN, Mehmet. Predicting Used Car Prices with Heuristic Algorithms and Creating a New Dataset. Journal of Multidisciplinary Developments, [S.l.], v. 6, n. 1, p. 29-43, july 2021. ISSN 2564-6095. Available at: <>. Date accessed: 04 oct. 2023.
Natural Sciences - Regular Research Paper


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