The Value of Second-hand Basic Passenger Vehicles Based on Factor Analysis

Abstract

Contemporarily, applications of big data analysis have been implemented to many fields, and the discussion on its theoretical concept and application value is unprecedented. The financial sector is also actively promoting digital construction. To be specific, the construction of financial digitalization is conducive to breaking the drawbacks of traditional accounting, realizing the deep integration of business and finance, and improving the work and efficiency of accounting. Moreover, with China's economic development, the private car ownership will maintain a strong growth momentum. In this paper, we investigate the value of secondhand basic passenger vehicles based on factor analysis. Specifically, data of used cars is used to analyze the influencing factors of second-hand car price. According to the analysis, it is concluded that the used car price factors are Performance factor, time factor and manipulation factor. Moreover, sellers should establish a service system to ensure the quality of second-hand cars and make a reasonable price. These results shed light on guiding further exploration of setting reasonable prices for used cars.