My brother's girlfriends family wants to sell me their 1998 Ford Explorer and I want to buy it.
They said they want Blue Book value for it. KBB.COM says the Blue Book value is $4500.
But, Edmunds says that you should pay $3500 to a private seller for it.
What gives?
2007-09-25 04:54:58 · 6 answers · asked by ABC 3 in Cars & Transportation ➔ Buying & Selling
Rick R: It's in good condition but has 125,000 miles on it.
2007-09-25 05:01:47 · update #1
Neither edmunds.com nor kbb.com have any bearing on what a vehicle is actually worth. In truth, a car is only worth what a person is willing to pay, not what a website says they should pay.
I would suggest looking through your local newspaper as well as maybe autotrader.com and see what similar 1998 Explorers are selling for with similar equipment and miles. Compare a few prices and use that as your basis of what a 1998 Explorer is worth in your area. They might want too much for the vehicle, however until you research, you will not know. Good luck and I hope this helps.
2007-09-25 11:04:25 · answer #1 · answered by The Auto Evaluator™ 7 · 5⤊ 0⤋
KBB is a good baseline. Don't go over it, unless there's something special about the car, or if you really want that car enough to pay more than you could sell it for the next day. If you make an offer, try 3/4 of KBB to start with. The end price should depend more than anything on how much the seller needs to sell the vehicle, not on how much you want it.
2016-05-18 01:28:18 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It's almost impossible to get a consistent answer from the multiple sources of used car values. KBB is usually high, Edmunds is more realistic, and www.nadaguides.com is usually somewhere in the middle. I would say taking the average of all these values would be a fair way to agree on a price with the seller.
2007-09-25 05:01:18 · answer #3 · answered by Anonymous · 1⤊ 0⤋
KBB is only a gauge. The price you pay is the value you would put on it. I personally would not pay more than 3k for it especially with 125k miles. Dealers never give you KBB value on trade in so you shouldn't pay that on a private purchase.
2007-09-25 16:15:40 · answer #4 · answered by samntika 2 · 0⤊ 0⤋
KBB has always been a bit inflated on their pricing.
Depending on mileage and condition im not sure id spend 4500 on an explorer. Thats just me though.
2007-09-25 04:58:08 · answer #5 · answered by Rick R , Super Duper Samurai 侍 7 · 1⤊ 0⤋
FYI.........
I WOULD NEVER RECOMMEND BUYING A VEHICLE FROM ANYONE THAT IS FAMILY OR HAS ANYTHING TO DO THE THE FAMILY.
THERE WILL BE PROBLEMS COMING FROM THIS TRANSACTION AND REMEMBER THAT THIS WILL BE AN "AS-IS" BY LAW.
2007-09-28 08:50:49 · answer #6 · answered by Anonymous · 0⤊ 0⤋