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. Since the three main consumer guides—KBB, Edmunds. The following are several sources you can check for pricing and rating information before buying, trading in, or selling a used car. Best place to sell my car? Carmax or CarZeus?
Vida Rivera is a year veteran in the automotive industry, working her way up from Salesperson to Used Car Director. Skip to content. You have the knowledge. They oftentimes set their price points a little bit higher than their competitors, so you might be in for a pleasant surprise when you actually buy. In conclusion, Kelley Blue Book is better for buyers who are scouring far and wide, while NADA Guides is better for buyers who like to err on the conservative side.
Simply call us on the phone, text us from your cell, chat with us on our website, or stop by in person, ok? It also analyzes asking price information from www. In addition to cars , SUVs , and trucks , NADA Guides offers third-party values for motorcycles, recreational vehicles, classic and special-interest cars, boats, and manufactured homes. Where the two major price guidebooks differ is in the specifics of their individual processes.
And neither company is willing to go deeply into the specifics because those are proprietary, just like the formula for Coca-Cola. Kelley Blue Book says a lot of numbers and data intelligence goes into its proprietary valuation process. The brand uses predictive analytics and industry and field analysis to review trends and provide current, market-reflective information. Yoell said her company "utilizes more than data sources delivering 3.
NADA draws in giant amounts of data from automakers, wholesalers, and retailers of used vehicles. The most important data, of course, are the individual amounts for which dealers bought and sold their vehicles. NADA Guides then factors in supply and demand and other macro- and micro-economic factors and the competitive landscape of vehicles.
At the same time, the pricing numbers provided to consumers and the industry are meant as guides. They are not intended to be "penny perfect. In a market as big and diverse as the United States, regional tastes and local conditions mean that vehicle values must be viewed area-by-area. This adds yet another wrinkle to the difficult job of defining and predicting vehicle values. Each region is analyzed individually to reflect local pricing and local economic conditions.
What is important to note is that the pricing guides are just that — guides. They are not price sheets meant to be followed with slavish devotion. They are designed to use real data to reflect the market so that individuals can reach an agreement on the price of a particular car.
Of course, the value of any car is the amount of money one person will pay to purchase it.
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