[Longs]

I'm curious as to which online price guides/tools (Edmunds, Kelly Blue Book, etc.) members are using and which they find to be most accurate or reliable. There seems to be a fair amount of variability in the pricing, you'll see pretty big differences between KBB and Edmunds, for example. I'm thinking of general used car pricing, not specific to Pontiac or the hobby.

[6t7goat]

Most banks use NADA trade to base their loans off. Credit unions will most of the time use NADA retail. KBB and Edmunds are good but most lenders don't consider them when loaning money on a vehicle. The best thing you can do is educate your self on the vehicle you are looking to buy. Se what the asking prices are on dealer websites, auto trader, craigslist etc. Book values are just guides and market demand is what determines prices. Find the car you want and determine what you are willing to spend. Don't be afraid to walk away if the price is too high. Make what you feel is a reasonable offer. Also the longer a car has been in a dealers inventory the more likely they are to work with you on the price.

[David Jones]

You've got to look at all of them and search around looking for examples actually out there. Coming up with an accurate number requires a little work.

[Will]

The area you're in can also cause quite a bit of variability in pricing. For example, Subarus are insanely popular in this area and go for higher prices than they do in other areas of the country.

[694.1]

Picked up an Old Cars Price guide recently.
So hopelessly out of date as to be valueless.
They actually sent out an email soliciting feedback on current values.

The way I look at it, if you are looking to flip a car, you had better know your market.
If you find the car you really like & it meets or exceeds your expectations, an extra K or three over 10-15 years is nothing.

Happy Hunting!

[John62]

Don't forget about what your insurance company values a particular car at. If you buy a $20,000 car, put your down payment and borrow $16,000, wreck it the next day only to find your insurance company values it at $15,000 you loose.

[64CatalinaVentura]

I've found that banks tend to use NADA (as already posted here by a previous poster) and dealerships use KBB for trade in values. This is because KBB usually values cars at a lower value than KBB thus it is in the dealer's favor to use it. I've had several dealers do this.

When looking for insurance value I used NADA and Hemmings.com . Hemmings will show you the average asking price of your classic model automobile over the last twelve months. I used this as justification to raise my agreed upon value with Hagerty last summer.

[Jerry H.]

Most dealers actually used 'Black Book' for trades which is published by Hearst Publications and generally not available to the public. Most of what has been posted is true; it makes a BIG difference whether you are buying, selling or trading in.

[supercar]

All information on previous posts is true. Are you looking to buy or are you selling? There is wide variance between the different books. I have found that Edmunds is a good indicator of actual street value of a vehicle. I worked in the used car industry from the time I was out of high school til I was 25 years old when I got into Communications. All the wholesalers use Black Book, which is no good for buying retail. NADA is only used by Credit Unions and Banks and is in my opinion only good for high retail transactions for a buyer with solid gold credit. I buy and sell a lot of trucks and I base my buying price on Edmunds Private Party Value for actual vehicle worth come selling time. As an example of the variations, I bought a 2003 Trailblazer 4x4,Black Book value was $1600,Edmunds was $2800. I bought it for $2200 and sold it dirty for$2800. Guy that bought it went through his Credit Union calls me and says "do you know what the book value is?" I said "how much?" He said " $5200! " They used NADA. LOL!

[Longs]

Thanks for the feedback. I've been looking at cars on Craigslist, potentially for my son, so there's lots of variability and I'm not too focused on a model year or specific model, more like looking for a car that seems like it's been reasonably well-maintained without high mileage or hidden problems - not so focused on age, but condition and mileage. I've been limiting myself to looking at cars for sale by owner, not dealers.

[Old Blue 66]

Originally Posted by Jerry H.

Most dealers actually used 'Black Book' for trades which is published by Hearst Publications and generally not available to the public. Most of what has been posted is true; it makes a BIG difference whether you are buying, selling or trading in.

This is true to a certain extent. Black book is on its way out. Dealer software that takes everything into consideration including what you'll need to do in recon and it also searches the advertised retail prices at other lots so you can make more of informed valuation on the car without the dealer getting hurt. Its pretty sophisticated and most dealers in my area use some form of it.

I have access to the Mannheim auction results which are wholesale values. Commonly known as MMR, most dealers use it when they are at auction to get a valuation of what the comparable cars are selling for in their part of the country.

If you have a car that you want to know what the wholesale price, PM me and Ill let you know and can tell you if its been in an accident and how many owners its gone past. Happy to help

[geeteeohguy]

What David Jones said. You have to look at what the vehicle of choice is actually trading for in your area. I've been shopping a 2001-2006 4x4 Tundra for 5 months, and every one of them is selling for 3-10k over all the value guide prices. And that's nationwide.