Quick Answer: How Accurate Is Edmunds Pricing?

What is the most accurate used car value guide?

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..

Is Kelley Blue Book out the door price?

No, the KBB values are just for the car. Fees and taxes are extra.

Why are dealer prices higher than private party?

One of the main reasons that dealer lot values are higher for used cars is because of the process figured into offering up one of the vehicles for sale. … They get no such assurance from a private party sale, where someone with the title for a vehicle is simply looking to get rid of it by any means.

What is Edmunds suggested price?

Edmunds calls this the “True Market Value” (TMV) or “Edmunds suggested price.” The Edmunds suggested price is what we recommend you pay, not including taxes or fees. It is based on our analysis of millions of data points including supply, demand, incentives, options, and recent nearby transactions.

Which is better Kelley Blue Book or Edmunds?

Many experts believe Edmunds’ values are more accurate than KBB’s. … NADA pricing is often higher than Kelley Blue Book since the algorithm has a standard that calls for all trade-ins to be in very clean condition.

What book value do insurance companies use?

To find new and used cars’ depreciated value, insurance companies may refer to the Blue Book value. There are two Blue Books, one from the National Association of Automobile Dealers (NADA) and the other by Kelley Blue Book.

Who owns Edmunds?

Peter SteinlaufEdmunds was founded by Ludwig Arons in 1966 as Edmunds Publications, a publisher of printed booklets consolidating automotive specifications to help car shoppers make buying decisions. In 1988, the company was purchased by Peter Steinlauf whose family has owned a majority stake since.

How accurate is KBB pricing?

Is Kelly Blue Book accurate? The short answer is no. Let me explain what goes into these price guidelines. Dealers use Kelly Blue Book to establish the value of trade-ins as well as comparing numbers to set their lot prices.

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.

How much can dealers go below MSRP?

Many dealers will easily settle for a $1500 to $2500 profit. If they do, and you purchase the vehicle correctly, you will be well below dealer invoice! Your awareness of these hidden savings combined with using the right online “car pricing services” can put this money into your pocket – not theirs.

Are Edmunds prices accurate?

Short answer: Both Edmunds and TrueCar have generally accurate information about car pricing. … Still, it’s a good idea to evaluate the prices they provide and do your own comparison shopping.

Why do dealers not use KBB?

Dealerships have high overhead and lending costs; this places consumers in a position to lose money. Dealerships have to make a profit, so you cannot expect to get a fair Kelley Blue Book price.

Why you should never pay cash for a car?

The common thinking is that buying a car with cash is better than financing because you won’t have to pay interest. … In that case, paying with cash may not be the smartest thing to do because you’ll lose very little money by financing; you get to keep your cash for other projects or investments.

What time of year is best to buy a car?

Looking for a deal on a new car? The absolute best time to buy is December, but you can save big other times too.

Why do dealers charge more than Blue Book?

Dealers use the window sticker price — which may or may not be the Blue Book suggested retail price — as a tool to get buyers to start the negotiation at the highest possible value. In most cases, if the dealer sells the car at the sticker price, the profit will be much higher than normal.

Is Kelley Blue Book American or Canadian?

According to CarsDirect, the Kelley Blue Book is the established authority for used car values in the United States. However, the Kelley Blue Book doesn’t have a direct counterpart in Canada.

What car loses its value the fastest?

The fastest depreciating cars on the market todayNissan Leaf. The Nissan Leaf Electric Hatchback is one of the biggest depreciators of them all due to rapidly-aging EV technology. … Chevrolet Volt. … Mercedes Benz S Class. … BMW 7 Series. … BMW 5 Series. … Mercedes Benz E Class. … XJL. … Chevrolet Impala.

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…•