Quick Answer: Is Kelley Blue Book Or Edmunds More Accurate?

Can you negotiate trade in value?

Negotiate.

“Come into the dealership with a good idea of what your vehicle is worth and what you’d be willing to settle for,” said DeLorenzo.

Dealers will often make a low offer, expecting you to negotiate up.

But you shouldn’t take less for your trade-in than what an industry guide says it’s worth..

How much can dealers take off MSRP?

Focus any negotiation on that dealer cost. For an average car, 2% above the dealer’s invoice price is a reasonably good deal. A hot-selling car may have little room for negotiation, while you may be able to go even lower with a slow-selling model. Salespeople will usually try to negotiate based on the MSRP.

Is it wise to trade in your car?

It makes the most sense to trade in your car when its value is greater than what you owe on the loan. This way, you can use that equity as a down payment toward the next vehicle you purchase.

How do I find the market value of my car?

Here are some easy tips that can help you in car valuation in the UAE….Know about the Current Market Value of Your Car at CashAnyCar.comYour Emirates ID.Vehicle’s Registration Card (Mulkiya)Your Vehicle’s Service History Book.Any Extras the Car might have.All Sets of Keys.

Is the invoice price for cars true?

Many car buyers believe a new car’s factory invoice is the bottom line a dealer will sell a new car for, this is not true! Car dealers want you to believe this myth, but the truth is, hundreds of cars are sold well below a new car’s invoice price every day.

How much should you pay off MSRP?

If you purchase a vehicle at invoice prices – with a $3000 difference – the dealer makes $3000 on the vehicle. Many dealers will easily settle for a $1500 to $2500 profit.

What is Edmunds True Market Value?

Edmunds True Market Value (TMV) is a pricing system that helps you determine the average transaction price — or what others are paying — for new or used vehicles in your area so that you can begin your negotiations with a fair price in mind.

Do dealers give KBB trade in value?

Mismatched Data Most dealers do not use KBB for trade-in (wholesale) values. Instead, many rely on National Auto Research’s Black Book or the Manheim Market Report, neither of which is available to the public. More important, both tend to skew lower than KBB in wholesale pricing.

Is 10% off MSRP a good deal?

10% off MSRP is probably what most users on this forum getting a good deal end up achieving. Having said that, you should probably start with asking for 12% so you can ideally get 10% or maybe more.

Are KBB prices accurate?

They also derive sale prices from major weekly auto auctions. By having such a broad band of information to pull from, KBB has indeed positioned itself as the most accurate and authoritative evaluation price guide whose numbers compare favorably with the real world. However there are problems with any price guides.

Is Carfax value accurate?

Now it is advising consumers on car prices, and dealers aren’t happy. Carfax Inc., known for its vehicle history data, has added vehicle value information to its reports. … It reviews a used vehicle’s history and advises that, based on that history, the vehicle is worth more or less than the vehicle’s book value.

What is the difference between Blue Book and Black Book Value?

The Blue Book is a consumer driven book, where drivers can look to see what they can expect to pay or receive for their vehicle. The Black Book on the other hand, is a dealer driven book. The pricing deals with wholesale values and the most up to date car sales.

Is Edmunds True Market Value accurate?

Edmund’s finds the true market value by comparing prices with car sales in your area. To make this number more accurate, the mathematicians at Edmunds use their pre-designed calculations to provide an accurate market value. This helps consumers determine if the deal for a new or used car is a good value.

Why is KBB instant cash offer so low?

“Some possible reasons include, but are not limited to, title issues (salvage, grey market, taxis or limousines), market volatility, lack of market data, unresolved recalls, low value due to age or condition, aftermarket equipment, or if the vehicle has been at an auction within the last 45 days,” states KBB.

What should you not say to a car salesman?

10 Things You Should Never Say to a Car Salesman“I really love this car”“I don’t know that much about cars”“My trade-in is outside”“I don’t want to get taken to the cleaners”“My credit isn’t that good”“I’m paying cash”“I need to buy a car today”“I need a monthly payment under $350”More items…•

Why is nada value so low?

The NADA RV prices are estimated based on depreciation and are not adjusted by region or for actual selling prices. Therefore it is a guide. Locally popular models may be higher, while unpopular models may be lower.

Do banks use NADA or KBB?

Kelley Blue Book and Edmunds are two of the most well known used car pricing guides in the United States. There is also another: NADA—but, NADA is usually used by banks or car dealers to show you an inflated price value. Therefore, you should never use NADA books for real references.

How do I find out the market value of my car?

What determines the market value of your car?Mileage. The higher the mileage, the less your car will be worth.Age. Your car’s market value will diminish for every month that passes.Type of Car. … Condition. … Location. … Time of year. … Car Supply. … Who is buying or selling.