While they leverage several sources of data to provide price estimates, their estimates may lag behind local or industry changes. You can easily check the value of your car online for free using KBB or Edmunds. The more accurate information you provide, the more accurate estimate you can expect.
Both Edmunds and KBB may suffer from lag time and consumer bias that lead to higher trade-in values. The Black Book is the most-used dealer resource, and it tends to display lower trade-in values.
Therefore, just because KBB or Edmunds displays a certain trade-in value, it does not mean you will get that high of an offer from a dealer. Posted in Car Buying Tips. Toggle navigation.
Select a Model. Get Prices Now. Geoff Cudd. Table of Contents Black Book vs. Edmunds vs. How is Black Book Value Determined? How is Edmunds Car Value Determined?
If you're looking for an easy process If you're looking for the most accurate Frequently Asked Questions. Make, model, condition, options, and contact info VIN or license plate. Series of questions about car, but no contact info needed VIN or license plate. What is Edmunds True Car Value? The car conditions to choose from are: Outstanding : Low-mileage vehicles that are preserved well.
Exceptional condition. No reconditioning is needed. Glossy paint and no damage. Nearly-new tires. Clean title and passes emissions. Very few vehicles qualify for this condition. Clean : Normal wear, but no major cosmetic or mechanical issues. Glossy paint but may contain a couple of nicks. Minor reconditioning may be needed. The tires still have significant tread. Both are free. Just provide some information about your used car and KBB or Edmunds will calculate the value of your vehicle.
Both companies provide huge help when buying or selling a used car. Both are respected in the market, well known, and can help in negotiating the price.
Great thing is that value is calculated combining average market value and specifics on a concrete car. If you use both and it is suggested to use both , you can see that most cases KBB and Edmunds will calculate a different value.
Same car, same parameters but different value. And have some arguments to defend the value which suits you best. One more argument that can help to bargain is a valid car history report. With a history report, the buyer will be certain that car value was calculated correctly. And good history always increases the price. Kelley Blue Books is an older company.
It was established in in California. Les Kelley, a founder of the company, was an ambitious car salesman at a time. He started documenting used car prices. At first, Kelley employed it at his job, evaluating a used car that he bought or sold.
When his archive expanded, Kelley began to see some business opportunities. Was even more valid question back then. Both, dealers and ordinary consumers needed professional help with evaluating used cars.
I will give you a simple advice. Do not put false information and you will not get false numbers for your car! Be honest and your offer will be honest. If you hide something thinking that you can scam and lie the participating dealer be ready to realize that you lie yourself. I recently used the site and was very pleased. I submitted all the info that was asked via Kelly BB. I was very thorough, specific, and forthcoming regarding the condition of the van.
I was the original owner. I immediately received 2 messages from dealerships. When I arrived at the dealership I had a check and was out the door in less than an hour. The person I dealt with at the Honda dealership was quite pleased with the accurate information I submitted.
Using this method was perfect for me. I wasn't interested in the hassle of selling the car myself.. I purchased the car, but did NOT give them my trade. Despite reading so many negative reviews, I reluctantly gave KBB cash offer a try. I received messages from dealers, 1 of which seemed genuinely interested. Select personalised content. 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.
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