Thursday, January 12, 2012

True market values?

Does anyone know the most commonly used true market value guide (kbb, nada, edmunds, etc.) dealerships use when trading in a vehicle?True market values?
We use the following in this order:



Black Book (Manheim Values)

NADA Book

KBB



Edmunds is usually WAY High on values in most cases...



But a lot of it has to do with your local market as well..



(Some areas can give higher values for trucks for instance, where as others are so innundated with trucks they dont want them right now)



If you have a CarMax close to you, try them first...then see what you can get from the dealer you want to buy from....and go with whoever is highest.



(CarMax can ship trades nationwide, so they have more room on certain vehicles than a manufacturer dealer may)



Chris
Different dealers use different guides but I would say that kkb would be the best choice.True market values?
Most dealers use NADA.



Most Consumer use KBB.
Dealers go by "auction value" - the price your car has been getting at wholesale auctions.



This gives them the most profit %26amp; lesat risk when buying your car.



It sucks because it it LOWER than KBB, NADA, etc. Much lower...True market values?
The best guage of market value in your area is the used car managers at dealerships. Call around and ask for the used car manager at several dealerships. Ask politely for a few minutes of their time. Describe your car and it's accurate condition, tell them you want to sell it wholesale and would like to get their opinion (not to sell it to them)...average out the numbers from 5 dealerships and you will be pretty close to the market value in your area.
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