Kelly BB Values vs. Real Life

Hi all,

I recently had the opportunity to purchase a '97 Yukon SLT 4x4 with 108K miles. Truck is really clean and seems to run well. The owner was asking $11,800 and I offered him $10,500. He declined but I told him to call me if he couldn't sell it for more. Well he called me today. The thing I wonder about is why KBB says this truck is only worth $9,000 and they're in the paper here for 10-14 K. Any ideas? Experiences?

Reply to
Scott
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KBB has several values, trade in, private party, and retail. Which value is $9k? You should be looking at the private party value.

Reply to
Todd Copeland

On Fri, 17 Sep 2004 06:05:55 GMT, "Scott" wrote something wonderfully witty:

A couple of reasons.

Unfortunately used car pricing is not an exact science. So the prices you get from different sources often don't agree with each other ? frequently by a wide margin. This is a result of getting data from different sources and making different judgements about that data.

An example Assume we have a 1997 Ford Crown Victoria base 4-door sedan that we want to sell, not trade. It has standard equipment, is in good condition, and has 75,000 miles. Here are our results for private-party sales prices:

Kelley Blue Book $5400 Edmunds $4025 NADA Guides $7200 (retail price - no private-party prices)

Since NADA doesn't provide private-party prices, we compared their $7200 retail price to Kelley and Edmunds retail prices as follows:

Kelley Blue Book $7075 Edmunds $4891 NADA Guides $7200

It's certainly confusing when you find a variety of prices. Which one is "right?" Which one is more "accurate?" Which one should you use?

The best answer to this dilemma is to cross-check prices with other sources in your area such as newspaper classifieds and "auto trader" magazines ? and add a dose of your own good judgement to arrive at your price.

Some people favor one source, such as Edmunds, as being more realistic than the others, and base their price only on that source. Others like to use multiple sources and average all the prices they find. Others visit local dealers who have similar cars and adjust down to get a private-party price. There's simply no "right" way to do it, so use the method that is most comfortable to you.

Personally I have found that the majority of dealers use NADA guides exclusively. If I remember correctly NADA stands for National Auto Dealers Association, or something close to that. The prices come directly from sales reported from member dealerships.

Reply to
ZombyWoof

I have found that you can buy a car for Edmunds trade or no more than Edmunds private party. I have also found that almost all dealers here in Huntsville, AL ask several thousand above NADA retail. Puts you in an bad situation at times. But, if you stick to your guns you will find one at the right price. I have bought two new vehicles at Edmunds dealer cost and have bought several used at Edmunds trade in. I have also been told no a few times.

Reply to
Tony Thomas

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