The Internet has been touted as the many resource for the used car buyer. Prospective buyers can find trade-in, incommunicable party, and sell values in a heartbeat. The ask to consider, however, is what Internet source is right? The three major sites: Nada, Edmunds, and Kelly Blue Book are clamoring to be the Trusted Authority on used car values. Yet price discrepancies are oftentimes in the 00's from site to site. Which web site, if any, is the most accurate source for the used car buyer?
To explain the discrepancies, here's an everyday example: Nada may sell a 2003 Saab 9-5 Linear at ,996, Kelly Blue Book prices it at ,456, and Edmunds prices it at ,800. These are all sell values, assuming exquisite or clean condition. ,456 minus ,800 is a ,656 difference. That's a huge price distinction in the extremely contentious used car market. This is not an consulation to safe used car dealers. Rather, this is a warning for the used car buyer when he or she is surfing the web for used car prices.
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The sell values located on many vehicles by these web sites can have even larger price differences - some as high as 00 to 00 dollars. These heavy price fluctuations can leave a used car buyer spending 00's extra, depending on which guide he or she used. Moreover, incommunicable party and trade-in sale prices do not accurately catalogue for vehicle condition.
Vehicle condition is a important variable. An owner might think his trade-in is in remarkable condition and thus worth X, based on his Internet research. An devotee may know it needs 00's in repairs and reconditioning costs.
The retort to "whose prices are right" is that none of the big three web sites reflect used car prices accurately. Most often, the prices are too high on the sell side, questionable on the trade-in side, and confusing on the incommunicable side.
So what or who is the real authority? The retort is the Market! The store (i.e., the folks grist it out everyday in the used car store place - sellers and buyers) reflect true store value. Web sites are guides only. Thus the used car prices from these sources need to be measured against the reality of the market.
Here's a scenario to explain the point the store plays on used car values. In the Northeast, the banks rely on Nada, used car dealers prefer to use Kelly Blue Book, and used car buyers are turning more and more to Edmunds. Now the dealer of procedure wants to use the inflated Kelly Blue Book value. The buyer wants an unrealistic Edmunds price, and the bank wants to use an under-valued Nada price. In other words, the three former people in the car buying process - the buyer, the seller, and the lender, are all on dissimilar pages. Each player wants the most advantageous price based on the part he or she is playing. The store is the only element that evens the playing field. The point here is to demonstrate that the store is the true source to determine a Real and Fair used car value.
In order to get a fair price, agreeing to the market, a used car buyer should aim for the middle. Avoid the top prices and be realistic and flexible about the lowest. Stay somewhere in the middle to get a fair deal.
If you want a great deal, effect the store closely. If buying from a retailer, eBay and auction prices don't count, as these are wholesale venues. Check out Cars.com, AutoTrader.com, and some of the other Used Car Sources. See what the vehicle you want (including miles, tool and accessories) is being advertised for. Again, shoot for the middle!
Use the beloved Internet resources, but don't effect these Guides blindly. You may genuinely pay significantly more than store value.
Having said all this, this doesn't mean that used car dealers are going to stop trying to low ball trade-in offers. And of procedure every dealer wants to sell its vehicles for a maximum. But remember, the same goes for car owners, but in reverse. They want the top price for a trade and the bottom sell price on a vehicle.
When using Internet sources to determine a used car value, be sure to enter the accurate information. This may sound elementary, but choice packages, models, miles, color, equipment, engine, transmission, gear ratios...etc, can be confusing. Yet these are important variables that will influence prices dramatically. In short, the wrong facts skews the numbers.
Finally, what genuinely needs to be highlighted with Nada, Edmunds, and Kelly, as well as other Internet sources, is that they are Guides. They are exquisite resources for vehicle information, but weak resources for prices. This is not to bad mouth any of these sites - they are great beginning points. Remember, however, that these guides may or may not be in the car buyer's favor. Fair used cars prices are dictated by the market. Yes, do your research on the Net, but don't cling to it. Use the Internet only to find the used car market's middle ground.
Nada Used Car Prices, Edmunds Used Car Prices, and Kelly Blue Book Used Car Prices - Who's Right?
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