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Price guides don't buy cars........ Posted by Mike Lynch [Email]  (#81) [Profile/Gallery]
(more from Mike Lynch) on Tue, 15 Aug 2006 13:31:50
In Reply to: User car values - edmunds, kbb, or black book, RobInfo, Tue, 15 Aug 2006 03:10:32 Members do not see ads below this line. - Help Keep This Site Online - Signup |
And price guides have different values for different customers. Kelley Blue Book, for example, has many different terms some of which are availible to the general public on their website and some only issued to dealers as software.
As a used car manager and finance person in SoCal (salesmanager too) the "book" on any vehicle is Kelley Blue Book wholesale. This is the unadjusted number availible only to licensed dealers and finance companies throught Karpower software.
Nowadays though KBB has a website that has values expressed in different terms, trade in value, private party value, and retail, but not actual wholesale. The website numbers are all market adjusted, the wholesale numbers, same KBB mind you, are substantially higher and the dealer is expected to make the appropriate market adjustment.
Typically Saabs wholesale for "3 grand back" or three thousand less than KBB actual wholesale, but right about somewhere in the fair to good condition range att KBB.com trade in value.
So my actual wholesale book on a Saab may be $15k, but the KBB.com trade in value at good-fair condition is only $12k. So KBB us spittin' out 2 sets of numbers depending on who you are. Everyone has access to KBB.com, but lotsa' folks also call their car buddies or bank buddies with Blue Books and get actual wholesale, and don't understand the difference.
I've always said to find realistic value of your car for trade in, consult KBB.com, trade in value, in fair condition if the vehicle is actually in excellent or good condition.
And finally, it's a tired old joke but very true, price guides don't buy cars.
I dunno'bout anything but Kelley Blue Book, that's the only reference in common use in SoCal, but I'm sure other price guides have the same or similar issues.
, Tue, 15 Aug 2006 13:31:50 <-- Viewing This Message
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