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If I used KBB, the car would've been worth 47,399, almost 2k more than the average retail in the market. Dealers want trades, but they also need to be able to sell the vehicles. The information on KBB is skewed because of update lag time, consumers putting in wrong condition, or double booking equipment (adding value for features that already ...
In my experience, NADA seems to be the absolute worst in lower trade in values and higher retail prices. If anything KBB tries to say your car I'd typically worth more either private party, or you should at least be getting a higher margin on it. Not familiar with CoPilot, but my experience usually is KBB is more accurate
I worked out, to the best I understand, what my car would look like using the X.717 formula/NADA MSRP/book value, vs the "approximate" values. I'm still not clear why they would calculate and provide numbers for every other car in that spreadsheet of buyback values, but leave all the 2015s redacted, and us wondering what the values would ...
Nowadays, people look to buy used cars more than new one. The sales of used cars is also increasing worldwide. And, now it is easy to determine the value of any used car or any vehicle with the help of used car valuation tool available. I personally used OBV used car valuation tool, when we were buying a used car last year.
Depends on each dealer. My dealership uses JD Power values. The NADA value sounds more like a retail than trade in to me. KBB is usually higher as well, by a couple of thousand dollars usually, depending on dealership. I imagine other dealers are going to be conservative on values as well given the economy, especially on trucks.
The only truly accurate value guides are the ones that dealers and banks use. Kelly blue book is the biggest crock of shit I've ever seen. We use nada and black book. The bottom line, if you like the car, it's in good shape, and is comparable to ones in the area, and you like the company you're dealing with, it's a good deal.
Yeah used car prices were inflated because of the lack of new car supply from COVID. Supply is now back up, and also interest rates are higher so car payments are higher. Used car prices are now dropping back to normal. It made very little sense to buy a used car the past few years when new ones weren’t much more.
Exactly this! “I understand your frustration, but KBB was only ever meant to be a guide, and they did not keep up with current market conditions. You can’t buy a car from KBB, and their algorithms don’t work anymore. The best indicator of market is what that exact car is selling for within a 200-mi radius.
In order to make used car shopping efficient and more informed decisions, I made 4 Chrome extensions, which automatically get KBB and NADA car values from KBB.com and JDPower.com. They turn 5~10 minutes copy pasting to 3~5 seconds automatically showing up. NADA Car Value for iaai.com . KBB Value for iaai.com and copart.com
Most used car listings are priced pretty close to what the seller is expecting (i.e., you might get $500 off, but not much more than that). Current sale listings are a better gauge of the current market that something like KBB which depends on past (not current) data.