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Edmunds, KBB, NADA pros and cons

kevin8886kevin8886 Posts: 1
Hi,

My first post here. I am starting my used car buying research on the Honda CR-V with the EX Trim (Years 2003-2006). I looked at both the Edmunds and Kelley Blue Book estimated dealer costs. Edmunds prices are substantially less than Kelly, maybe 20% or so. Any particular reason?

Thanks,
Kevin
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Comments

  • steverstever YooperlandPosts: 40,016
    I thought we already had a discussion about this but I don't see it. Short answer is that Kelley is a dealer service and Edmunds exists for the consumer.

    These links should get you started:

    What is the "Kelley Blue Book" Price?

    Edmunds.com Edges out Kelley Blue Book in Online Race for Car Buyers


    If you don't believe any of the books, you can cross-check prices in the Real-World Trade-In Values discussion or any of the Prices Paid: Buying & Leasing Experiences discussions.

    Moderator
    Need help navigating? stever@edmunds.com - or send a private message by clicking on my name.

  • mnfmnf Posts: 404
    I would make copies of both when comparing and looking. When your at a dealer they like to use the Kelly and rate it a Excellent when selling off the lot and a fair for a trade in. You could also use the NADA I would say that the truth is some where between them.

    Good Luck
    MNF
  • thenebeanthenebean Posts: 1,124
    unfortunately used car pricing is not a science - there are too many variables for any of the guides to get it right all the time. there are times when they come closer to others, but the best way to get an idea of numbers is an auction report. a dealer's thought process is that if they can buy the car for $xx,xxx at the auction, they aren't going to pay you more for the same car. those auctions pretty much set the prices that dealers use.

    a good way to get an idea of what that is is to visit the real world trade in values forum - volvomax has stepped up to the plate to provide those values to members here for free.

    as long as you remember that edmunds, kbb, nada, etc are just guides, you'll be fine. do as much research as possible, and get a wide variety of numbers from various sources - and eventually you'll see where a car should be valued at based on that information.

    -thene :)
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,610
    Do not recognize Edmunds when using values to determine if they are going to make loans.

    They look at KBB and NADA.
  • esteezeesteeze Posts: 102
    I'm trying to private party sell my 03 Honda CR-V, and I'm finding that the Edmunds value is about $500 more than the comparable KBB value.
  • jipsterjipster Posts: 5,345
    I'd take the Edmunds value and print it out. Let the buyer think he is getting a better value(when price lowered), which he may.
  • esteezeesteeze Posts: 102
    I'd take the Edmunds value and print it out. Let the buyer think he is getting a better value(when price lowered), which he may.

    Good idea.
  • thenebeanthenebean Posts: 1,124
    if a dealer did that, consumers would be up in arms! :P

    (wait, they do, and they are!)

    but its ok for a private seller to show the higher value in an effort to make the buyer perceive he is getting a better deal...

    interesting... ;)

    -thene :blush:
  • jipsterjipster Posts: 5,345
    I'm starting to sound like a dealer aren't I?

    Well, it's off to psychotherapy for me! :cry:
  • thenebeanthenebean Posts: 1,124
    :D :D :D

    you're funny jip! ;)

    -thene :)
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,610
    You should do what our customers do.

    Scour the various sites that show used car values and pick the one that is the highest.

    Oh, and be sure to rate your car in "excellent" condition!

    :) :) :)
  • oldfarmer50oldfarmer50 Posts: 6,239
    "...Oh and be sure to rate your car in "excellent" condition..."

    But my car IS in excellent condition... Except maybe for that rust spot on the door, oh yea and there's that spot where Fido did his business on the back seat. And the engine makes this funny sound but only when it's running but you don't notice it because of all the blue smoke...yep, pretty near perfect.

    Say Isell, can you give me $2000 over book for it on a below invoice deal? And how about some free floor mats? ;)

    2009 PT Cruiser, 2008 Eclipse, 1995 Mark VIII, 1988 GMC Van

  • isellhondasisellhondas Issaquah WashingtonPosts: 17,610
    Sounds like a deal it me!
  • mnfmnf Posts: 404
    Now Now that goes both ways isellhondas a lot of dealerships ( including Honda) when trading in use FAIR to Good then re stamp it excellent when they resell it :blush: would you not agree ??.
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,610
    Well, after a four hour detail to get the filthy, smelly interior clean and we pay the dent guy a lot of money to straighten it out and we spend another 1200.00 in the shop fixing things and taking care of deferred maintenance, yeah, the condition is going to improve!

    So, yeah, I agree!
  • mnfmnf Posts: 404
    You have never seen one of my vehicles friends and family say i am obsessed with my vehicles. I park in open end spots or far away (no dents) wash and wax it more in a month than most people do in a year. I have all my mantaince records printed with me . I always go by once and see what they would do on a trade in ( After I have a set sell price) with four times fair once good with only one trade in ( Honda Dealer) . I will agree with you that most people think there cars are in better shape than they really are and will clean it just before trade in. You can always tell that it was a freshened clean and not done during the life of ownership.
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,610
    You are the exception.

    I have taken in trades that were so filthy inside and smelled so bad I didn't even want to go park them afterwards.
  • joel0622joel0622 Posts: 3,302
    Now Now that goes both ways isellhondas a lot of dealerships ( including Honda) when trading in use FAIR to Good then re stamp it excellent when they resell it would you not agree ??.

    Of course we do, hell sometimes higher then excellent. That is the nature of the business, buy low and sell high.

    A thing we have a hard time getting across to sales people is that it makes no difference what we have in a car, what matters is what we can sell it for. If are last 5 2004 Zorchs brought $9500 retail and there is still a demand for then then it does not matter if we have $7500 or $5500 in the car, it should still sell around the $9500 mark.
  • british_roverbritish_rover Posts: 8,476
    Exactly never sell from the bottom sell from the top.
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,610
    When they can't figure out what we have invested in a used car. They want to base their offer on that like they try to do with new cars.

    It really doesn't matter. Used cars sell for what the market dictates.
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