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Is Kelley Blue Book accurate?

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XeVfTEUtaAqJHTqq

Master of Distraction
Staff member
Once I get my park assist sensor issue fixed I'm going to try and sell my Durango in a private sale.

Is Kelley Blue Book relevant any more? Are there better sites for estimating resale value?

Any tips or strategies for selling privately? I was thinking of using Craigslist and AutoTrader?
 
Kelley is generally low, NAPA is always higher. The issue is once a car dealer utilizes one or the other, they stick with it for the base of the deal. The work begins when you try to get them to deviate from the base.
 
I use the Kelly blue book and the NADA book, both available online to compare values and then check what others locally are selling for via autotrader and craigs list and come up with a price from there.

KBB: http://www.kbb.com/
NADA: http://www.nadaguides.com/

For craigs list I would say no email replies and put your number in with some number spelled out ....I can't verify it but I hear that prevents the bots from grabbing your cell number.
 
KBB is crap. It's high and for dealers who love to pull out the Kelly Blue Book for you to see how much they can overcharge. Use Edmunds.com. More realistic than the others.
 
I take KBB, NADA and Edmunds and then average the 3 results.
 
KBB:


  • Excellent
    $21,253
  • Very Good
    $20,753
  • Good
    $20,303
  • Fair
    $18,753
NADA:

Clean Retail: $19,300

Edmunds:

Dealer Retail: $17,146
Private Party $15,282

Interesting price range. ;)
 
What do you guys do regarding these high value private sales? I've never sold anything privately for this much money. Do you take a certified check or money order - these can be faked these days. Some form of escrow deal? Meet at the buyer's bank?

I own the car outright so there is no financing hassles on my end.
 
In recent memory the only private sale of this size I have been involved with was the purchase of my Crossfire Roadster. At that time, believe it or not I used PayPal from my smartphone. I transferred the 16.5K from my bank account to his email address he has set up with his PayPal account. There are no fees associated with doing this as long as the money goes from bank account to another. In other words, no debit or credit cards involved. Then the seller must pay the 2.9% fees. This may not work all the time, for everyone, but it sure worked for me. Once the money popped into his account we drove the car home. :biggrin:
 
I'd do it at the bank. Most have a notary there that can transfer the title as well.
 
Wire only. Forget any form of paper. Have it wired to a brand new account. Get the money, withdraw the money. Close the account. The bank will help.
 
In general, NOBODY pays 'retail' KBB price. That is used for "Buy Here Pay Here" lots who can charge any price they want. However, to get the true wholesale value, what a dealer would hit it for on a true appraisal, use KBB 'average' price on a 'trade in price' and do NOT add for any additions. For the last 10 years, this method has almost always been accurate in determining the ACV (Actual Cash Value) of your vehicle. What you can get selling it completely depends on your area and market conditions. KBB is the highest around and is used for that reason. 99% of the dealers use the weekly subscription NADA Black Book wholesale value book.
 
Here's the inside scoop... KBB and Edmunds do not loan money, to anyone. They are websites designed to drive web traffic for advertising revenues. Therefore, neither are reliable or accurate.

To know a vehicles true worth, one would need to know what that exact vehicle (make, model, year, miles) is going for at a local auction and how many of those vehicles are for sell in a specific area. Car values are supply and demand based, like virtually everything else in the world. Dealerships are privy to this auction information, as well as NADA black book wholesale values. The appraiser at the dealership is in the best position (assuming they are being straight with you) to let you know what your car is worth.

The bottom line to getting the best car deal is knowing what you want in your next vehicle and having the means to afford it. If you are buying new, shop the other dealers in the area and then go with the salesperson who is working hard to earn your business. These will be the same folks you rely on when/if there are any issues moving forward. If buying pre-owned, have a budget in mind BEFORE you go to the dealership. If not, you can end up paying way more than you'd have to. Be honest and upfront with your salesperson about your intentions, timeframe, and budget. Any sales professional worth their desk and chair will appreciate it and most likely be willing to negotiate on your behalf if need be.

Dealerships, by most accords, have changed drastically because of the internet, especially on new vehicles. Everyone pays the same for the vehicles they sell, however the higher volume dealerships are usually in a better position to negotiate a little on the price.

Hope this helps...
 
FordGuy said:
Here's the inside scoop... KBB and Edmunds do not loan money, to anyone. They are websites designed to drive web traffic for advertising revenues. Therefore, neither are reliable or accurate. However, both mentioned websites will get you within a dollar or so of the original dealer's cost; before any dealer rebates or dealer volume rebates.

To know a vehicles true worth, one would need to know what that exact vehicle (make, model, year, miles) is going for at a local auction and how many of those vehicles are for sell in a specific area. Car values are supply and demand based, like virtually everything else in the world. Dealerships are privy to this auction information, as well as NADA black book wholesale values. The appraiser at the dealership is in the best position (assuming they are being straight with you) to let you know what your car is worth.

The bottom line to getting the best car deal is knowing what you want in your next vehicle and having the means to afford it. If you are buying new, shop the other dealers in the area and then go with the salesperson who is working hard to earn your business. These will be the same folks you rely on when/if there are any issues moving forward. If buying pre-owned, have a budget in mind BEFORE you go to the dealership. If not, you can end up paying way more than you'd have to. Be honest and upfront with your salesperson about your intentions, timeframe, and budget. Any sales professional worth their desk and chair will appreciate it and most likely be willing to negotiate on your behalf if need be.

Dealerships, by most accords, have changed drastically because of the internet, especially on new vehicles. Everyone pays the same for the vehicles they sell, however the higher volume dealerships are usually in a better position to negotiate a little on the price.

Hope this helps...
Click to expand...

Um, some correct and some not correct after 30 years in the car business. Fact; not all dealers pay the same price for their new cars from the same manufacturer. Volume dealers get sometimes considerable retroactive rebates to sell certain numbers of specific models.

The true ACV (actual cash value) of your trade in is totally subjective. Basically ALL dealerships use the Black Book, published weekly, as a guide. All it is is a book telling the person appraising the vehicle what that vehicle's average sale price at wholesale auctions sold for in the previous week. Sometimes, depending on the area, the values listed are just off the charts high and sometimes they are so low that you'll never get a customer to trade based off of a low book price. The Black Book is a guide for the appraiser. You can take the same car to 10 different dealerships and you'll get 10 different prices for the same car.

What is not published anywhere is that it is a proven fact that your car will appraise for more if it is detailed and extremely clean when it is presented to the person who is appraising it. They love to tell you that they "look through the dirt", but that simply is not true. First, how do they know the condition of the paint if it's filthy? Second, it's human nature to assume the person trading the car was lax on maintenance if the vehicle is filthy. Strong odors, such as cigarette smoke, generally knock the value $500 or so as well.
 
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