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Old 09-25-2010, 05:14 PM
 
3,071 posts, read 7,446,659 times
Reputation: 1619

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Friend, Its ALWAYS best to know what the going price is for a used car you want. I often check the AUTOTRADER web site and compare cars and the price. The only exception is when you are looking at a car that is rare and then its what ever the seller can get,
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Old 09-26-2010, 12:40 AM
 
Location: Poway, CA
2,698 posts, read 9,527,131 times
Reputation: 2206
Quote:
Originally Posted by QERose View Post
KBB provides a touchpoint that people can take and go from there. The fact that many people now disagree with the idea of KBB doesn't make KBB wrong.
Well, to be clear, I don't see KBB as 'wrong'. I just don't see it as something that should dictate the price of a vehicle. Like you mentioned, it's a reference point and as long as that's all it's used for, I'm fine with that. It's this whole idea that asking a price way off from KBB somehow makes the seller a bad guy that I don't agree with.

Mike
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Old 09-26-2010, 01:34 AM
 
25,631 posts, read 29,124,493 times
Reputation: 23049
What ever I can get a sucker *err* someone to pay for a car I am selling is what it is worth. I don't care what KBB states. I use what similar cars have been selling for in a 200 mile radius and mark up or down from there.
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Old 09-26-2010, 08:13 AM
 
102 posts, read 356,324 times
Reputation: 100
Quote:
Originally Posted by whiteboyslo View Post
It's this whole idea that asking a price way off from KBB somehow makes the seller a bad guy that I don't agree with.
I didn't say that it makes the seller a bad guy. It does make me wary if the price is way off. The ad better say why the asking price is way off or I'm not looking further. The seller should not make the buyer work harder than they have to. It's the seller's job to SELL the car and that means includes all the good points and any problems like dents, tears, rips, minor (and yes, MAJOR) problems with the car.
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Old 09-26-2010, 08:51 AM
 
Location: SF Bay Area
7,661 posts, read 5,643,038 times
Reputation: 7505
Quote:
Originally Posted by QERose View Post
I didn't say that it makes the seller a bad guy. It does make me wary if the price is way off. The ad better say why the asking price is way off or I'm not looking further. The seller should not make the buyer work harder than they have to. It's the seller's job to SELL the car and that means includes all the good points and any problems like dents, tears, rips, minor (and yes, MAJOR) problems with the car.
Since KBB only goes back 20 years, about 98% of the time that a seller is asking a price far in excess of Blue Book it is for the reason we see posted above..

Quote:
What ever I can get a sucker *err* someone to pay for a car I am selling....
It is a clear signal to the wise to not waste another minute and move on. The high price is almost always just the tip of an iceberg you want to steer far clear of.
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Old 09-28-2010, 06:52 AM
 
5,703 posts, read 15,494,170 times
Reputation: 8514
Quote:
Originally Posted by QERose View Post
I've been looking for another vehicle in the past week or so, and am put off by people asking $1000-2000 above Kelley Blue Book prices. What's up with that? One person even put "no low ballers" in their ad. Excuse me, but when you ask $2000 above the Blue Book something's up. Don't expect people to pay or even bite when clearly you're high-balling!
For amusement, you should look at the Indiana Craigslist. Its comical and ridiculous. We were looking for a used car and I found almost 90 percent of the ads were thousands above blue book. Some cars didn't even run. Some had been in serious wrecks missing hoods and front tires. We did not even consider buying a used vehicle from a private party here. We ended up buying something much newer from a dealer, otherwise our plan was to drive back to our native Detroit. I wonder if people are more clueless by locale.
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Old 09-28-2010, 02:40 PM
 
Location: NYC & NJ
747 posts, read 2,210,509 times
Reputation: 326
As a buyer KBB holds little relevance to me these days. Sorry if that offends anyone who still views it as the bible of auto sales/values. With sites like autotempest, I can search all of ebay, craigslist, cars.com and autotrader at a glance for any car I'm interested in, with a search radius as broad or as narrow as I want. With forums dedicated to pretty much every brand and model out there, I can get feedback from people who bought/sold recently and/or follow the market for a particular car closely. With some cars, I can even see how they're doing on the wholesale market recently (and judge the markups accordingly). All of these venues give much better current information than KBB or TMV, provided one is willing to do some homework.

Another reason KBB holds little relevance to people like me is that I research cars closely and often look for a particular trim/package that may be relatively rare and/or generally desirable. KBB and the other so-called books don't/can't know that nuance generally. E.g., I just checked to see if it understood 6-speed MT versions of the E46 ZHP were significantly more desirable among enthusiasts: Nope. KBB values the MT and AT the same. I wonder if they can tell me 6MT 2.0T Avants are worth more (or at least hold their value better) than originally much higher priced (and higher contented) AT 3.2s. Or that there's an inflection point in Infiniti M35/45 pricing in '08 because the Sport package finally had different fascia/styling.

Even if you say all of the above is too much work for most people (and that said people broadly define the market), it take less than 2 minutes to go on cars.com and find CPO 3-series at dealership asking prices well below KBB ($20k vs $24k, that's a whopping 20% difference before you've even negotiated), AND less than a minute to go on bmwusa.com to find that BMWFS will give you a further $1,500 cash back for financing said '07 CPO through them. The more common the car, the easier it is to survey the market for it. So tell me again what relevance KBB has to a layman, let alone a more fastidious purchaser?
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Old 09-29-2010, 06:28 PM
 
1,119 posts, read 2,290,678 times
Reputation: 803
I've noticed locally that some of the most overpriced cars are when some guy inheirits grandma's garage-kept '92 Cadillac DeVille with 40k miles on it, beats the crap out of it for 6 months, then thinks it's worth $10,000 because it's a "rare low-mileage classic Cadillac driven by a little old lady"
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Old 04-26-2014, 04:11 PM
 
2 posts, read 11,287 times
Reputation: 10
Default What is value?

The value of the car is what someone will pay for it. It's kind of the same when you sell your house, only less restrictive. A house is usually easier to appraise, using the value (what they sold for) of similar houses in similar area as comparison (also a mortgage company may object, if you pay a lot more than is appraised). If you get an appraisal before you sell it, it may sell over, it may sell under. the selling price is the value. You may not ever pay a hundred dollars for an oldsmobile, and that's fine. but if an owner can find a buyer who pays 5000 for their 1984 delta 88, because they like the way it rides. It's value is 5000 to the seller. If the buyer enjoys the car for a few years he may feel it was worth much more. If it explodes the next day he may feel differently. But on the day he buys it, he is gambling it is worth more, because he is willing to part with his $5000 in exchange for the cruiser.
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Old 04-26-2014, 04:24 PM
 
2 posts, read 11,287 times
Reputation: 10
also on edmunds or kbb you may see a difference of $300 for 8000 miles of difference, everthing else the same, try it yourself. That's less than 4 cents a mile. Try to rent or lease a car for that much by the mile. Try it with 0 miles, outstanding condition and see what the value is. Try it with your favorite old car, then ask yourself if you would pay that much. or better yet ask yourself first, then find the "book value".
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