Edmunds Suggest Retail Price

[Cranston]

Originally Posted by rugrats2001

I think maybe it's you who doesn't understand that most car owners don't keep a service record shrine on their vehicles nor do they expect one available when they buy a used car........
Just because it lowers what you personally are willing to pay doesn't mean it lowers the actual value.

I understand that most people don't keep good records on their cars...Yes it does lower car values, you don't understand valuing used cars. KBB spells it out how to do it. Sure some people will always overpay - a fool and his money are soon parted.

[evilcart]

Originally Posted by skinsguy37

Maybe I'm reading this wrong (and if I am, I'm sure there will be those to quickly correct me), but to me, the Edmunds suggest retail price for a vehicle is the suggested price that a dealer would price a vehicle for, hence the word "retail". Am I wrong on this? And generally, the retail price for a car is going to be more than the price it would sell privately.

Reason why I'm asking is that I came across this ad on Craig's List last night where the seller posted a screen shot of the suggested retail price for his/her vehicle that was to be sold, and the suggested retail price was something around $8,000 - in excellent condition. The seller wanted to sell the vehicle for $9,000. Now, the vehicle looked to be in good shape from the pictures, but I couldn't really tell if it was in excellent shape or not. Having said that, if I'm correct in my thinking, isn't the seller way over pricing his/her vehicle? Not only is he/she looking at a retail price for the car, but also pricing it above that price?

Or, am I wrong? I thought I've used that site in the past to price the value of my vehicle and it specifically told me the private sell value of it and not so much just the retail value?

I sold my 5 year old car for a lot more than book value, and in one day. it had 25k on the clock and a full service record with the dealer. It sold a couple of K above the full retail KBB or Edmond price. First day i listed it, multiple offers ended up selling over asking in a little bidding war between my dealer and two dudes.. the dealer won which seemed unfair but his offer was just too good to pass up. We did not even want to sell it, we just could not make up a reason to keep it.

It was in very good condition and people like that new feel even if it is not new.

[skinsguy37]

Originally Posted by evilcart

I sold my 5 year old car for a lot more than book value, and in one day. it had 25k on the clock and a full service record with the dealer. It sold a couple of K above the full retail KBB or Edmond price. First day i listed it, multiple offers ended up selling over asking in a little bidding war between my dealer and two dudes.. the dealer won which seemed unfair but his offer was just too good to pass up. We did not even want to sell it, we just could not make up a reason to keep it.

It was in very good condition and people like that new feel even if it is not new.

And the car was a......????

[rugrats2001]

Originally Posted by southernnaturelover

Records make the car more desirable. I sold my Sonata to a small dealer a few months ago with a glove box full of receipts. That dealer had the car sold within a few days, and I was told that the receipts along with low miles is what sold it.

If I don't see paper receipts I at least expect to see some type of maintenance history on CarFax. If I see neither I pass on it.

So you were fine with a dealer giving out your name and address to a purchaser? Seems like a whole lot of privacy violation to me.