How can I calculate a good price to offer an independent car dealer for a used car based on Edmunds and KBB values?
Here’s a quick link that shows you how to desk a car deal.Dealers place 0 value on Edmunds & KBB other than dealers pay these sites for ads. Finding the right deal on a used car is quite simple: search all the major sites and narrow it down to 2–3 cars. Check dealer reviews. Call ahead and make sure vehicle is available to buy and know upfront what the dealer fees are. Make sure you’re qualified to buy. See car. Drive car. Buy car.People who don’t follow these guidelines generally experience poor satisfaction.
Are the true market values on Edmunds or TrueCar reliable?
Are you selling your car to the dealer or buying a new/used car?You have to look at each company's sources and where they get their data. Truecar is getting its data directly from dealer's internal management software. They can see each customer transaction because they purchased a company that pulls data out of these systems. For TMV (True Market Value) Edmunds uses a formula. I happen to work with their data all the time. Edmunds takes the original MSRP and discounts-linearly for condition, mileage and applies a larger discount for major mileage breaks (example: 30K, 50K, 65K, 90K) - you can see from this graph 3 different models in 2 different conditions (Rough/Average) and the TMV drops. If you want to see/get auction prices I would suggest something like home - Lux Auto ClubHope this helps you get a better deal.
What are some APIs for retrieving car value data?
I know this answer is probably way late for the question, but just in case others come looking for the same information in future, here’s some more info:Edmunds- Can increase rate limit without extra cost- Can easily get all the data for various makes, models and years from a single API request- Can get approximate market value for lots of vehicles except maybe older ones which don't seem to have their market data loadedCars.com- Vehicle market metrics API has endpoints for fetching vehicle data- Has vehicle price information- Didn't find much on API usage chargesThe next two services don’t have market value information for vehicles, but still do come with a lot of other data for the vehicles:CarQuery- Doesn’t have market value- Has downloadable vehicle DBNHTSA Vehicle API- Doesn’t have market value- Looks like a free API
Why does my car bluebook for so low on KBB, but not Nada or Edmunds?
My 99 Saab 9-5, blue books on KBB for 928$. It's only got 107k miles, which for a Saab is nothing. So that's obviously a retarded estimate by KBB. KBB is the most well known car pricing guide, which is why I think I'm having an extremely hard time selling my car. Nada estimates the car at 3,600$. And Edmunds, 4,100$. Why is the KBB price so low? It really pisses me off. Nada eestimates the car at 3600, with my exact zip code. What could be wrong with KBB? It's absolutely ridiculous. And what could I tell people on my Craigslist ad, that would be a legit excuse as to why KBB sucks at pricing my Saab?
Why is Edmunds so much lower than Kelley Blue Book?
The most correct answer is that neither of these sources will write you a check for the amount they quote. That is why they are refferred to as "Purchasing Guideline sources". All these websites mean squat when it comes down to the actual vehicle values, you can only get these from the guy willing to write the check. (i.e. a dealer or buyer) To the idiot below that says Edmonds= Fair Market Value.... They won't write the check either, and they are just as far off as the other sites most of the time. Rule of thumb: If they are willing to write a check, take them at their word... If not, then their word is meaningless.... The best suggestion I saw below was to check autotrader and see what is being ask for a similar car... The only thing I would add tothat is that those are asking prices, not selling prices.....
How much markup does a dealership add to a used car?
Typically, unless a car has been there a while and is collecting dust, the markup can be from 20-40 percent. It's perceived value. They're not idiots though, and sometimes people walk out on a great deal because they expect to get a lower price. They may tell you to pound sand because they do this alot more than you do and they know that someone will fork over the dough for the car. Use your KBB and Edmunds. NADA isn't for consumers and rarely comes close to a vehicle's value for a consumer, not helpful. Negotiate your deal even of you have to "go home and think about it". ( I can't believe I'm saying this!) Do you really think a gallon of gas is worth $4 bucks too? But you probably weren't peddling a Schwinn to work. Be nice and be patient.