Their quotes are only used for trade-in…NOT if you sell it on your own. But it gives you a much more accurate picture of what your car is worth. Mike , they only guarantee the price becaue they are putting your vehicle out there and getting a quote from a dealer. Besides, private party values are very different from trade in values, as you know. Your car is worth exactly what someone is willing to pay for it, not a penny more or a penny less. For two parties to meet in the middle, a lot of talking and bargaining must be done.
This method is preferred in Arabic bazaar where prices differ with each customer. There is another approach.
One more popular in the US of A and all the Western world. The idea is that the market sets the price. So, you look at the market average and start from there. Use market average only as a reference, because every used car is different. Mileage, maintenance regularity, driving style, city or road car. Those factors influence the performance of the car. Car value is a tricky thing when you try to find it yourself.
And a very easy thing to calculate on the internet. Those two have many decades of experience and are trusted by dealers and consumers. 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. 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. Clean title and can pass an emissions inspection. Average : Requires significant reconditioning and may include cosmetic or mechanical issues.
Dull exterior paint with several dings or scratches. Worn interior. Tires with usable tread. Gave me a bigger picture view on the market before I narrowed down my decision. Their process is fast, simple and easy to understand. Most of the reviews here are posted by people who tried to lie in their ICO statement about the condition of the vehicle and got mad because the damages that they tried to minimize or hide were discovered by the appraiser.
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..
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