Internet based "blue book" values

[mikep]

Kelly Blue Book (kbb), Edmunds, Carpoint...does anyone take these internet resale value sites seriously? The reason I ask is because in the last year I've used KBB and Edmunds as a reference a few times and in each case the other party did not acknowledge them as a legitimate used car value resource.

What is the sense of having these things available if nobody seems willing to accept them as legit?

I have noticed that KBB seems to consitently value used car prices lower than Edmunds. In my most recent use KBB valued the car at $2200.00 and Edmunds had it at $3800.00. That's quite a difference! I've tried to find a happy median between the two but even so, once any of these internet based sites are mentioned it evokes a knee jerk reaction from the opposite party...and it usually isn't a good one.

Is there any internet based used car resale value site that most people or dealers do consider a valid reference?

 

[rjundi]

These guides list average prices. So it depends on what you are willing to pay and what the owner is willing to sell for. The right price is what both parties are comfortable with.

 

[sbc350gearhead]

The NADA blue book, is the only one generally used by dealers or insurance companies.

http://www2.nadaguides.com/uv/selectcategory.aspx?LI=1-10-0-2001-0-0-0&Lnk=1&wSec=11&wPr=1&wPg=2081

 

[Drew99GT]

Edmunds "True Market Value" I think is the best resource to use when pricing a vehicle, because it truely is based on the actual average prices that vehicles are actually selling for in a local area. NADA is the most legitimate resource used, as that is what a car dealer uses to base wholesale/trade in values. I don't think NADA is based on locality though, so it may not be representative of a local market, which may be beneficial for private party transactions of a vehicle.

 

[The_Jeff]

Are you trying to sell or buy?

I've found kbb.com to be higher priced, by about double, what I would/do pay for typical $800-2400 beaters in my area.

Conversely, selling a heap with over 200k miles was easy with the kbb printout in the window; I underpriced it substantially.

 

[mikep]

quote:

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Originally posted by eljefino:
Are you trying to sell or buy?

I've found kbb.com to be higher priced, by about double, what I would/do pay for typical $800-2400 beaters in my area.

Conversely, selling a heap with over 200k miles was easy with the kbb printout in the window; I underpriced it substantially.

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In the latest case I'm using them to purchase. I think Drew99gt is right...Edmunds "True Market Value" seems to be more in line with what I expect.