| Author | Message | ||
     Tim '92 RR (Snowman) Senior Member Username: Snowman Post Number: 703 Registered: 12-2002 |
I am trying to price a 1999 SUV, not a Rover. No examples to compare in my local paper. I will attempt to sell to a private party. What's the difference between KBB and Edmunds? | ||
| Dave_lucas (Dave_lucas) Senior Member Username: Dave_lucas Post Number: 454 Registered: 02-2002 |
I think Edmunds is better than KBB, Edmunds tends to have options and models that KBB does not. | ||
| Jim Reynolds (4x4xfar) Senior Member Username: 4x4xfar Post Number: 365 Registered: 05-2003 |
Tim it depends on the region of the country you are in. I work at a dealership and for wholesale we use Black Book which poles all the auctions in Florida weekly and assigns 4 values to a certain vehicle. x-clean ,clean,avg,and rough based on the autual market for that week. The NADA book is a more regional pulication but lists retail as well as wholesale. With any of these publications use them as a guide because each vehicle stands on its own. KKB is by far the highest value in my region so we rarely use it. Jim | ||
| Tim '92 RR (Snowman) Senior Member Username: Snowman Post Number: 704 Registered: 12-2002 |
Selling cars in FL, nice gig! Thanks all! | ||
| Melissa (Roverchic) Member Username: Roverchic Post Number: 162 Registered: 02-2004 |
Or call your financial institution..They have loan value, retail value,ect .. I use my credit union when buying a new/used auto..Seems to be the most accurate( I believe they use NADA??) Melissa | ||
| S.C.Young (Youngsc) New Member Username: Youngsc Post Number: 22 Registered: 10-2003 |
KBB is what you use when you SELL yours, Edmunds is what you use when you buy one. KBB inflates the value, Edmunds is typically right on. | ||
| Glenn Guinto (Glenn) Senior Member Username: Glenn Post Number: 846 Registered: 02-2002 |
Credit Unions typically use NADA. I work for a credit union and that's what we use. | ||
| Alyssa Brown (Alyssa) Senior Member Username: Alyssa Post Number: 653 Registered: 01-2003 |
NADA is ALWAYS inflated. It is really only used by finance companies & banks. It is actually good that it is high, because it allows you to take out a higher loan amount (and put less down). Edmunds and KBB vascilate between WAYYYY too high and just a little too high. Remember that used car prices drop constantly. The KBB values are updated bi-monthly. A car's value can change A LOT in 2 months! Edmunds uses registration documents to show value. The problem with that is that so many dealers over value trades (they will discount the new car less to eat the difference). SO, the numbers end up higher than normal. In the end, your car is only worth what someone will pay for it, and there are tons of factors in that. | ||
| Alyssa Brown (Alyssa) Senior Member Username: Alyssa Post Number: 654 Registered: 01-2003 |
Oh, and did you look on AutoTrader and EBay to see what people are selling them for? I'll frequently look at "completed" results on Ebay. | ||
| Dave Statler (Falconx84) Member Username: Falconx84 Post Number: 77 Registered: 02-2004 |
For dealer auctions, we use NADA. KBB says what you theoretically can get and thats what a lot of dealers reference when selling you a car, as it tends to be inflated, as mentioned. It's been my personal experience that Edmunds is closer to the true value because it tells you what you should expect to get or to pay, the "true market value" which it calculates from dealers across the country. I always reference KBB and edmunds to get a good range. I personally like to use edmunds but also keep have a NADA book handy, as it gives you wholesale, loan value and retail. | ||
| Tim '92 RR (Snowman) Senior Member Username: Snowman Post Number: 705 Registered: 12-2002 |
I am going to price it bit higher than KBB. It's in fantastic condition and the only example in the local paper right now. Thanks! | ||
| Erik Olson (Jon) Senior Member Username: Jon Post Number: 606 Registered: 02-2002 |
My understanding (from a car seller friend) is that both KBB and Edmunds are formula based (e.g., puchase price / year x pre-determined depreciation rate) whereas NADA actually conducts market research for their pricing standard. That's why finance companies use NADA when deciding whether they'll pick up your loan or not. At least that's what my brother's sister-in-law's plumber's uncle told me. e | ||
| Melissa (Roverchic) Member Username: Roverchic Post Number: 169 Registered: 02-2004 |
When pricing my car and buying the new one today, I used NADA so did the credit union who is dealing with my financial backing/buying power. JMHO |
