U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Automotive
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-19-2016, 10:55 AM
 
5,444 posts, read 4,846,644 times
Reputation: 15033

Advertisements

Why is this still a topic? Sellers are free to ask whatever they want for their vehicle. As a buyer, you are free to offer whatever you are willing to pay. If you and the seller cannot agree, you both part ways. It really is that simple.
Reply With Quote Quick reply to this message

 
Old 02-19-2016, 10:58 AM
 
124 posts, read 109,812 times
Reputation: 104
My favorite line is "only asking payoff". Most of the time their payoff is far greater than what the vehicle is actually worth, but they believe because they're willing to sell it for payoff it's a good deal. Just goes to show a lot of people are clueless when it comes to buying or selling a car.
Reply With Quote Quick reply to this message
 
Old 02-14-2017, 01:04 PM
 
1 posts, read 1,077 times
Reputation: 10
Kelley Blue Book sucks. They have wide price difference from private party to dealer. Dealer will be 25-30% higher selling price per Kelley and Kelly claims thats just how dealerships work. They inspect it and yet offer no warranty on older vehicles. The only warranty is paid out of your pocket. They make money on that warranty and money on financing it for you and money at the top end price of Kelley. For an older vehicle, there really should be no significant difference in price between private and dealer. I personally ask the dealer price. When you compare to the NADA book price for the area, that is usually the same price. If someone doesnt know any better the the buyer is going to get a deal. If the seller is shrewd, he will do his home work and needs to especially if he has records of having good care of the vehicle. Dont let Kelley Blue Book fool you into believing the low values for selling your own vehicle since they are backed by the automobile industry. A dealership would love to buy low and sell high. So why not you ?
Reply With Quote Quick reply to this message
 
Old 03-22-2017, 09:18 AM
 
1 posts, read 985 times
Reputation: 10
I know this is an old thead, so I'm probably speaking to the bumper. But if you are expecting to get an accurate appraisal from KBB "Private Party," you will become extremely frustrated. The reason "Private Party" isn't a good gage (along with the reasons given in other posts) is because KBB gets their "Private Party" values from what has been reported to the DMV. When was the last time you bought a used car from a private party, and reported the *actual* sale price? Almost everyone who buys a car through a private party, only reports about half of the actual selling price to the DMV, in order to save on sales tax. The *reported* sales prices are what Kelley Blue Book uses to compile their "Private Party" values, and probably 90% of the time it comes in way under the actual value of the car (sometimes thousands of dollars under). There are also other criteria that KBB uses, but it isn't enough to offset the huge gap between "actual" sale price, and "reported" sale price. Since dealers have to report the *actual* sale price of the car (or risk having their license taken away) a more accurate way to get the real value of a car, is to use KBB "Buy From a Dealer" pricing. If you can buy a car from a private party on the lower range of that scale, you're doing pretty well.

Last edited by dryfly; 03-22-2017 at 09:29 AM..
Reply With Quote Quick reply to this message
 
Old 01-31-2018, 09:03 PM
 
1 posts, read 598 times
Reputation: 10
If I total my 2009 prius and need to buy a replacement of the same year, mileage, and bells and whistles there is no way I will find one that is even close to what KBB or Edmunds says my car is worth . All of the used cars are priced way above what these guys say. It makes me believe KBB and Edmunds is bogus and used as a tool for insurance companies to rip of consumers. Why am I paying for full coverage if my car doesn't actually get replaced when needed?
Reply With Quote Quick reply to this message
 
Old 02-01-2018, 08:00 AM
 
Location: Grosse Ile Michigan
26,520 posts, read 62,925,435 times
Reputation: 30546
Until recently, KBB was always way high. Now prices for used cars are way up and KBB may not have caught up. Edmunds TMV used to be more accurate most of the time because they use sales prices not asking prices. However sometimes they are wildly different from KBB (higher or lower) and the actual market value is a completely differnt figure than either of them are using. I looked up a car I had some years ago, KBB had it worth $8,000 and Edmunds said $1500. It was actually worth about $4,500 - $5,000.

KBB and Edmunds can be a helpful reality check, but they never tell you what a car is actually worth in your particular market on the particular day you are buying a car. Most of the time we bu a car we are either looking for a very specific car, in which case I watch prices all over the place for a few months to get an idea what they are going for; or we are looking for the best deal we can find for X amount of money, in which case you just search for a good deal and when you find it jump on it as quickly as possible. Good deals do not stay ont he market for long. Often less than one day.

I know a guy who plays games with sellers to get them down to a reasonable price. Say he wants that $9,000 vette they are asking $14,000. He will have five or six people go look at it, test drive it and then offer the guy $6,000 - $8,000. Then he comes along with the $9,000 offer and the seller jumps on it. He says it works most of the time. It seems like a lot of work to me. I prefer to just wait and shop around until I find the war I want at a price I think is reasonable.
Reply With Quote Quick reply to this message
 
Old 02-01-2018, 08:42 PM
 
Location: Maryland Heights, MO
3,293 posts, read 6,999,902 times
Reputation: 2003
Just sold a car (about a month ago) which I listed on craigslist & facebook. Had never actually looked up the price of the car, but apparently I received $4000 Above KBB private party value. I knew that I wasn't using KBB to price the car, and was receiving TONS of interest w/o doing so. Granted, this was a somewhat speciality car with a bit of a niche following. But had I been looking at KBB and valuing the vehicle based off those prices, I'd have been giving it away...As someone on Page 1 said, the market decides the price/value of the car...not KBB.com.
Reply With Quote Quick reply to this message
 
Old 06-18-2018, 11:01 AM
 
1 posts, read 411 times
Reputation: 11
After googling through various motorcyle websites and comparing both kbb and nada, there is no clear view regarding who is more accurate. Both looks good for me, but the price statistics assumed by nada is fairly low.
Reply With Quote Quick reply to this message
 
Old 06-20-2018, 11:13 AM
 
Location: Billings, MT
9,535 posts, read 7,831,724 times
Reputation: 13276
The seller is free to ASK any amount.
the buyer is free to laugh and walk away.
Or, just not even respond to the ad.

THAT is how the "free market" works.
Jeep Wranglers are a case in point. there is no way I would pay 15 to 20 grand for a 2006 Jeep Wrangler Unlimited. But, that is what they are often listed (and sell) for! They are popular, and difficult to find.
Reply With Quote Quick reply to this message
 
Old 06-20-2018, 04:59 PM
 
Location: Eastern Washington
14,220 posts, read 44,887,015 times
Reputation: 12798
Quote:
Originally Posted by Redraven View Post
The seller is free to ASK any amount.
the buyer is free to laugh and walk away.
Or, just not even respond to the ad.

THAT is how the "free market" works.
Jeep Wranglers are a case in point. there is no way I would pay 15 to 20 grand for a 2006 Jeep Wrangler Unlimited. But, that is what they are often listed (and sell) for! They are popular, and difficult to find.

Sometimes a car reaches "cult" status, sometimes rather suddenly, and the market price goes up way beyond the depreciated Blue Book price.



Blue Book is oriented towards later model cars. It always assumes the car is still depreciating.


Ordinary cars that don't reach cult status depreciate down to $500 to $2500 or less, depending on condition. In the Rust Belt they rust out and become worth $100/ton, unusable as a car.



But cars with a following start going up in value, typically when they are around 12 to 17 years old. Most Corvettes come to mind here.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Automotive
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top