With Peter and the rise of the internet, Edmunds grew even more and became one of the top choices for dealers and consumers. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. How to Find the Value of Your Car? Those are parameters that have significant weight: Overall condition of the car. The popularity of the car in the market. Warranty and its condition. Local market and situation there.
Usually, KBB shows a higher price than Edmunds. So, keep it in mind. Edmunds car value is calculated considering many factors: The invoice price of the car. Supply and demand of that specific model. Data from real transactions all around the country. Dealers and manufacturers advertising expenses percent of the TMV. As the name implies, manufacturers suggest prices to dealers to sell their vehicles at.
It goes only with new cars. And even then, dealers have their calculations that inflate the price. Invoice Price. This is the price that the dealer pays to the manufacturer. Clean title and can pass emissions. Rough : Requires significant repairs for many cosmetic or mechanical problems.
Interior and exterior need repairs. Tires may need replacement. Can pass emissions with minor repairs, still has a clean title. Damaged : Major body and mechanical damage. It may not be in running condition. May have a branded title flooded, salvaged, damaged, etc. Edmunds Used Car Values The Edmunds appraisal calculator provides you with these four values: Trade-In Price : A reasonable dealership offers to trade in your current vehicle for your next car. This value is always the lowest.
Private Party : What you can expect to get as a seller if you sell privately. Dealer Retail : What used car customers can expect to pay at a dealer.
Certified Used : This only applies to new enough vehicles if your vehicle could be sold as a certified pre-owned by a dealer. What is Kelly Blue Book Value? Using KBB value is simple.
Enter the make, model, year, and mileage. Verify your zip code. Select the car category and style. Add any additional options. Choose the condition of the car.
KBB provides descriptions of each, but they state most cars are in good condition. View the Blue Book for your car. Trade-In Value : The amount you can expect to get when trading in the vehicle at a dealer. Suggested Retail Value : The price dealers usually ask for the used car.
It is free to get your trade-in value, but requires a paid subscription to get more pricing values and to be able to search by VIN or license plate. Subscriptions are mainly geared towards dealerships. Edmunds : Edmunds used car vehicle appraisal calculator is free to use. Ease of Use Comparison Black Book: The free service is very simple, but contact info is required to see the trade-in value.
The Black Book subscription service makes it inherently more difficult to use. Users cannot just quickly enter their vehicle information; they must sign up and pay for an account. The free service does not allow you to search by VIN or license plate. Edmunds: Similar to KBB, users can enter car details through an online calculator. Create a personalised content profile. Measure ad performance.
Select basic ads. Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. Although automotive experts acknowledge that the Kelley Blue Book is one of the most popular and trusted guides in automotive pricing, the question remains: Is it accurate and reliable?
Kelley Blue Book receives real-world used car prices on a daily basis from wholesale auctions , independent and franchised dealers, rental fleets, auto manufacturers, lessors , and private party transactions.
That process results in the following values for used cars:. Some factors that could affect the accuracy of KBB values are lag time, consumer bias, and mismatched data.
It takes time for data and analysis to make its way through KBB. Prices listed may not always reflect the very latest trends and economic conditions.
Most people think the car they are selling or trading in is in better condition than it really is. Most dealers do not use KBB for trade-in wholesale values. More important, both tend to skew lower than KBB in wholesale pricing.
Start with the listed retail price and bargain down. Ask about the source of the trade-in offer or wholesale price. But to continue to make a profit, they need to offer the seller a fair price, and they do not base offers on Kelley Blue Book. AR Auto Exchange personally uses resources with more accurate data, like Black Book and recently sold vehicles. Anyone with an idea of how data collection works can understand how flawed the Kelley Blue Book Value system is. Those resources do not rely on people inserting their biased information about their vehicles.
Professional resources rely on the actual, comparable sales and purchases of all cars, SUVs, and trucks, along with the details and costs associated with it. Yes, there are facts in numbers. But how you get those numbers are just as important as the numbers themselves. Lag — It takes time for data and analysis to make its way through KBB. Prices listed may not always reflect the very latest trends and economic conditions.
Consumer bias — Most people think the car they are selling or trading in is in better condition than it really is. Mismatched data — Most dealers do not use KBB for trade-in wholesale values. More important, both tend to skew lower than KBB in wholesale pricing.
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