Buying used car

Have you checked out

& (Kelley Blue Book) for the current private sales & retail prices of the used cars you're interested in? Both Toyotas & Hondas should be plenty reliable.

Cathy

I don't think that there is a car that gets above 34 in your price range, except for Toyotas, hondas, and maybe Nissans or Mazdas.

Jeff

Nah!

Here's a trick: Kelly and Edmonds are geared towards sellers. They always hi-ball the values. I used to use them all the time to squeeze a few extra bucks onto the 'window' price (of course, I knew I would sell the car for much less...)

is no-nonsense, this is an honest value for thecar guide.

Hmmmm... unless thye've changed a lot in the last 3+ years, worked well for me for the last 2 car sales/trade-ins.

Cathy

Up here in Canada, Hondas tend to be driven by ricers and other gang members.

(um...you got taken...)

Of course! If you agreed to the Kelley price! If you had stuck them with the NADA price, you probably could have saved a few hundred, at least! More like >$1,000...

Nope. See below.

Ah, but I was on the (private) seller's and trade-in end - I was getting rid of my old car & buying a new car each time. Yes, I know that you'd said you think those 2 sources are skewed on the seller's end.

OTOH, one has to assume the Toyota dealership knew the trade-in prices for used Toyotas, & for the other deal my buyer had done their own research, so... IOW, the numbers appeared to match up on both sides. Of course, I will add in this 3rd source for future reference, & then next time I'm researching prices, will likely see how they all line up with each other.

Cathy

Cathy, the KBB prices are always on the high end, plus. so the dealer can show the book and show how his car is selling "UNDER" blue book! wow. It reminds me of the story of the little kid who was taking his new dog for a walk. Another kid asked "What'd you pay for him?" and the kid replied "A thousand dollars." "What? Where'd you get a thousand dollars?" "I didn't pay cash, but I traded two five hundred dollar cats for him........."

For all three prospects? Trade-in, private sale, & retail? The last time I checked both the KBB & Edmonds for a used car's value(s), they were only ~$50 apart - & I don't remember which one was the higher & which the lower.

Cathy

I uised a combo of the Kelley Blue Book & Edmonds. They were only ~$50 aopaprt.

drive about 25,000

Check out

It's the most comprehensiveguide to help you get the best deal. Always have an independentmechanic check it and buy the CarFax report. I bought a 2 years old Corolla CE 3 years ago. It's very reliable and gives me great mileage. In your budget make room for brakes, new set of tires and tune-up.

But always higher then NADA:

Scion tC Coupe, 19,000 miles, Excellent condition:

KBB: Condition Value Excellent $15,055 Good $14,195 Fair $13,015

Base Price $11,800 $13,925 Mileage - 19,000 miles $575 $575 Options Aluminum/Alloy Wheels $225 $250 W/out Automatic Trans. -$525 -$525 TOTAL PRICE $12,075 $14,225*

When dealer shows you Kelly price, hit them with NADA price. Always! (or, at least if they're over NADA.)

If they're under NADA, ask them WHY!!!!

Dealers generally use the NADA guide when they buy used vehicles; KBB and Edmonds to show customers when selling. The NADA guide comes from actual purchases and sales reported by dealers.

I thought dealers use the Black Book when buying used vehicles? I first heard of this years ago when a friend worked for a car dealership..

-Dave

I did not see many new car dealers use the Black Book. I've seen it used more at independent used car dealers that do not have a new vehicle franchise.

The 'Black Book' reflects the prices at which used car dealers exchange vehicles. NADA reflects price at which used cars have actually traded at new car dealerships.

Toyota dealership, however, are well known for trading cars at below NADA wholesale. That becomes obvious if one looks at the difference between NADA wholesale and retail of used Toyota. Toyota is quick to point out higher 'resale value' but it is reflected more in the retail price than the wholesale price. When I was still in retail sales, we sold just about every brand you can name and we always made 20% to 30% more profit, on our import brands, than on our domestic brands. Seems buyers were convinced they were 'better' and willing to pay us more profit. LOL

Don't you mean when a new car dealer is TRADING in a car, he uses NADA? I was Group Sales Manager for one of the largest mega dealership groups on the east cost that operated in six eastern states. I can assure you NO dealership worth its salt BUYS used cars from wholesalers. They SELL their use car to wholesalers. If a new car dealerhip is selling new cars at the proper rate he is accumulated used cars that he must retail in a few month or sell to a wholesaler or he will tie up too much of his capital in depreciating use cars.

In the event a dealership in not selling enough new cars, to the point that he need to by used cars to improve cash flow, he will buy them at company auctions not for high prices charged by wholesalers

If I had a used car Sales Manger that bought a used car for stock from a wholesaler, I would fire him for bding stupid AND the new car Sales Manager for not doing his job ;)

I see. This was over 12 years ago and I can't remember which dealer he worked for. I know they sold new and used. Which one gives the higher value? I would have thought a new car dealer would use something like the Black Book vs. something anyone can buy in a magazine store.. Then again I know they've got their reasons..

-Dave

Oops! Yes!