NADA/KBB/Edmunds Disparities? | FerrariChat
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NADA/KBB/Edmunds Disparities?

Discussion in 'General Automotive Discussion' started by el Carnicero, Jun 17, 2005.

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  1. el Carnicero

    el Carnicero Formula Junior

    Mar 28, 2005
    435
    West of Laramie
    #1 el Carnicero, Jun 17, 2005
    Anyone know why there would be such disparities in used car valuations by these rating companies? For example, I plugged in the identical car (year, model, condition, mileage, color,etc.) on all three sites and got the following:

    NADA $22,100
    KBB 16,985
    Edmunds 14,110

    What's up with this?
     
  2. isellpower

    isellpower Formula Junior

    Nov 30, 2003
    888
    Midwest
    Full Name:
    Jason
    #2 isellpower, Jun 17, 2005
    Excellent question. NADA seems to be the one the banks and dealers use most.
    I am in the home building industry and I could get 3 appraisels for the same home and they would be within a few K of each other.
     
  3. Tyler

    Tyler F1 Rookie

    Dec 19, 2001
    4,274
    dusty old farm town
    Full Name:
    Tyler
    #3 Tyler, Jun 17, 2005
    I'm not sure of the dipsarities you mentioned. Most dealers I know look at Manheim numbers more than any other source for what a vehicles worth.
     
  4. exotics4fun

    exotics4fun Karting

    May 13, 2005
    84
    #4 exotics4fun, Jun 17, 2005
    Dealers use NADA to take in your trade (since it's low), KBB to sell you a used car (since it's high) thus creating a big split. Edmunds is a great tool as it shows the reality of what you should pay, but it's also too high for any trade-ins. If you're interested in a make/model post to that forum asking what Manheim Market is for that model with your mileage, that's the value dealerships will usually use in the sales office to put a value to your trade. If you know the Manheim number you know what your car is worth wholesale, this way you don't get lowballed.
     
  5. el Carnicero

    el Carnicero Formula Junior

    Mar 28, 2005
    435
    West of Laramie
    #5 el Carnicero, Jun 17, 2005
    I was researching the "value" of a used car that I'm interested in. The dealer's price tag on the car is $26,500 - considerably more than any of the three valuations described in my original post.

    I think he's $5K too high and the car may actually be worth (and would consider paying) +/-$21K. In the past I've said something like, "Hey, I've got $XXX here I'll pay for that car. Give me a call if you decide to sell for that amount." No negotiating, just the bottom line up front coupled with enough lack of emotion to walk away if he doesn't go for it.

    Any other suggestions on how to negotiate a deal in a situation like this where the asking price is obviously way above the market?

    I hate to negotiate.
     
  6. 6.0 se

    6.0 se F1 Rookie
    Lifetime Rossa

    Mar 26, 2004
    3,140
    Atlanta,ga. area
    Full Name:
    A.J.
    #6 6.0 se, Jun 17, 2005
    Are you looking at trade-in numbers, or private party values when you were looking at the 3 listed prices? Or were you looking at retail price? What is the car in question? I will check it on Mannheim.
     
  7. el Carnicero

    el Carnicero Formula Junior

    Mar 28, 2005
    435
    West of Laramie
    #7 el Carnicero, Jun 17, 2005
    Looking at dealer retail selling price, excellent condition, no recon needed, etc. You've got mail.
     

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