5 years ago, no dealer would look at Kelly Blue Book report. I tried it but that is when there were alot smaller difference between trade-in and retail. Today everytime you buy a car here in the midwest thats all they push. "your trade-in according to KBB is blah! blah! blah! and "we are selling just under KBB". I just priced up my Loaded 05 Durango to see where it is. I bout it with 6,000 miles on it at supposedly $2500 under KBB just over a year ago. Know the retail is saying $23,655 trade-in is coming in at $13,500. Are you kidding me. $10,000 dollar difference. KBB is a huge scam with the dealers thats pretty clear.
2006-09-15 07:46:13 · 5 answers · asked by custom_design@sbcglobal.net 1 in Cars & Transportation ➔ Buying & Selling
I agree. None of the rating systems are really valid. The only way to make a good one would be to monitor what similar vehicles are ACTUALLY selling for. This is difficult because the data is hard to get. Especially accurate data. The market of willing sellers and willing buyers will truly set the market for the value of a used car. The best way to figure out the value is to look at local classified adds and find a comparable car that has just sold and try to figure out what it sold for. Everything else is BS.
I have never traded. I will always sell my used car first to a private buyer.
2006-09-15 07:55:12 · answer #1 · answered by JetboyToy 3 · 0⤊ 1⤋
Well, I am a car dealer, so maybe I can shed some light on this situation. Dealers do not buy inventory based on KBB values. There are two other valuations registries that print weekly and/or monthly valuation books. Those two are NADA (National Auto Dealers Association) and Black Book. You may have heard of both. Every bank that finances autos uses the NADA guide in determing the amount they will loan on vehicles. Therefore, some dealers buy according to NADA values. These books, by the way, are yellow if you have ever seen one. The other guide, Black Book, is more commonly used. This book is printed weekly for cars and every other week for trucks, vans, and suvs. This guide is based upon what vehicles are currently selling for at dealer auctions based upon their condition. KBB is what most dealers use to price and sell their cars. The reason for this is because KBB retail is considerably higher on values. Because it is the one resource buyers know to refer to, they determine what to pay from the KBB guide. Long story short, dealers make more money.
So now you know the secret of car business and valuation guides. But, everyone has to make a living.
2006-09-15 14:59:34 · answer #2 · answered by ncmom 3 · 0⤊ 0⤋
Kelly Blue Book is a guide, just like NADA, Edmunds, Black Book, Gold Book, or Galves.
I would not pay $13500 for a 05 Durango, even if it was loaded. So to me Kelly Blue Book is too high
2006-09-15 15:02:02 · answer #3 · answered by elvis53 4 · 0⤊ 0⤋
Dealers pay kbb billions a year to advertise on there website. There values have no credibility. I found one website that offers wholesale value to the public. http://www.kbbdealer.com
2014-08-04 23:24:50 · answer #4 · answered by JD 1 · 0⤊ 0⤋
i dont drive am i suppose to know what u r talking about?
2006-09-15 14:54:15 · answer #5 · answered by Praiser in the storm 5 · 0⤊ 0⤋