Most used car sellers, including carmax, use the prices calculated by kelley blue book, or kbb. Carmaxone of the largest car buying and selling companies in the united statesprides itself on its hasslefree process. Get the best deals on used cars for sale near you edmunds. How carmax s usedcar prices compare to kelley blue book. But your carmax offer may be lower or higher than the kbb estimate because carmax uses its own data and inspection process.
Their pricing and value data includes statistical analysis that allows for current and timesensitive changes in historical valuation to be easily understood resulting in reliable predictors of values and potential risks. In addition to taking a vehicles year, make, model, mileage, location and condition into consideration, carfax historybased value is powered by vehiclespecific data thats unique to carfax and tied directly to each car through its vehicle identification number vin. You should buy from carmax if you like testdriving lots of cars before you commit and you should. The kelley blue book is the most popular usedcar buying guide. This means your vehicle will go to wholesale auction, and carmax generally makes very little on these. According to kelley blue book, the brands with the best resale value are toyota on the midend and porsche on the luxury side of things.
We calculate the carguruss instant market value of every car by using proprietary algorithms that analyze millions of used cars. Get used car values with edmunds car value appraisal tool. Depending on the age and condition of your vehicle, the amount of appraisal research youve completed on your own, and how much time you can devote to selling your car, you might find that carmax suits. The price that matters is the price some party is willing to pay, so the real issue is whether carmax pays more or less than other dealers or individuals. Nada numbers come from the auctions and dealer reports. For the simple reason they do not write checks for vehicles.
This brand has been around for almost as long as the automobile so long that the term blue book value which harkens back to the color of kbbs original printed guides is now synonymous with any car pricing guide. It is one of many tools used by car dealers to determine car values for their inventory. The most commonly used are the kelly blue book, and the edmunds used price guide. In the world of used car sales, there are no preset values, so a dealer is free to use whatever sticker price it wants for a used car. So, we will examine what the kelley blue book instant cash offer is, compared to selling your car to carmax. Look up the nada used car value and also check your cars tradein value using pricing guides such as and kelley blue book. Black book used car values kelly black book nadaguides. Just like any good reseller, carmax makes its money by buying low and selling high. Can i dispute a car estimate from carmax if the kelly blue book value is higher. However, this is only an estimate based on your best educated guess. Can i dispute a car estimate from carmax if the kelly blue. Both companies consider the following factors in their offersestimates. What is the best resource for used car values, clearbook.
Cargurus is the leading online automotive marketplace that helps consumers find great deals and connect with toprated dealers. Nadabut, nada is usually used by banks or car dealers to show you an inflated price value. When i opened the engine it was spotless and i owned the car for two years. Check car prices and values when buying and selling new or used vehicles. You cannot, i repeat, you cannot do research on the value of your car. We have over 5 million cheap used and certified preowned cpo vehicles in our database and we provide you. This criteria includes the vehicles history, current condition, make, model, year, mileage, and desirability in the market. Heres how to get a carmax appraisal and turn your vehicle into cash rather. I sold 2 cars there both with really really high mileage, they seemed to give me kelly blue book value rounded to the nearest hundred. The downside is the value kbb gives people is seldom the right value. Kelley blue book and edmunds kelley blue book and edmunds are two of the most well known used car pricing guides in the united states. Get your carmax offer, then put it on craigslist for more and it will sell. Instant cash offer is a solid offer for a particular amount of money, to purchase a consumers car. Look up your cars value on the kelley blue book or edmunds sites.
Unfortunately, the authentic sources those that list actual transaction prices arent available to the public. Anonymous i went to carmax to get a appraisal and was very disappointed. My brother is asking for the heirs to let him sell it to his wife for the car max estimate. The folks at kelley do a lot of research, and they have years of data, so theres really no reason to not trust what they publish. You can expect a few hundred dollars below average trade in value if your car is in good shape. Now in adds they will so much off kelley or edmunds. Vehicle history is an important factor in determining a cars value. Selling a car or truck is a question of time versus money. Carmax vs webuyanycar how is we buy any car different. I took my dodge viper to carmax for an appraisal autotrader.
We set our baseline for a holy grail offer at kelley blue books. They offered us more than we were hoping for we looked up values in kelley blue book. Tell me about selling a car to carmax ars technica. Most people think kelley blue book kbb is the holy grail when it comes to the value of vehicles. Carmax appraisals consider many of the same factors as kelley blue books kbb personalized estimates, but carmax does not use kbb to determine the value of a vehicle. I took my dodge viper to carmax for an appraisal duration. Kelley blue book kbb is an automotive shopping site. Kelley and edmunds are always high in their prices. This is a timehonored tradition ive done with each and every one. Carmax appraisals use the same general criteria as personalized kelley blue book estimates. Since 1926, kelley blue book has been one of the most trusted names in the auto industry. Took my brand new 2018 mustang gt to carmax, shocking.
How to find the value of a car by vin number it still runs. I was also under the apprehension that there are two versions of the blue book, one for dealers and other industry insiders, and one for consumers. Various consumer reports say that carmax appraisals often come in slightly below kelley blue book value, though not always. Carmax sets the offer based on a few factors, including. The kbb does not offer consumers the opportunity to enter a vin. Carmax does not look at kelley blue book, edmunds, or nada. I recently drove my 1997 dodge viper gts to carmax to find out what theyd offer me for it. Kelley blue book is hit or miss, the market changes too fast for kbb to keep up, but that doesnt mean its useless, you just need to do more research. We will consider kelley blue book and our own expertise to. You can visit an appraisal site such as the kelley blue book and get an estimate of a cars worth and then apply any price adjustment from your vehicle history report to get a more accurate value.
As carmax has folks who get great money for their car as well as others who wish they had gotten more, there are some ways you can get good money for your car. In business since 1993, carmax has become the target of used cars, synonymous with a dignified and painless buying experience. Kelley blue book values reflect local conditions in over 100 different geographic regions and are updated weekly to give consumers the most uptodate used car pricing information. Take a 2010 honda accord ex sedan in very good condition. You might say we literally wrote the book on car values. This means your vehicle will go to wholesale auction, and. If you still owe money on the loan, and the vehicles appraised value isnt enough to pay it off. People sometimes call up the cars kelley blue book value.
If you choose to sell your car yourself, the private party value stands as a starting point. Here are a few reasons why the values may not match. This way you will have an estimate of what your car is worth. What you need to know about selling your car bidlane. We just sold a car to them and we werent looking to buy another care, so it wasnt a tradein but they handle tradeins as separate sales transactions anyway. Before we do that, ill start by showing the kelley blue book value of my car as a baseline. So, we will examine what the kelley blue book instant cash offer is.
If it does, they up somewhere along the line, either in the initial appraisal or. Before you rely on carmax to deliver an unreliable tradein value, see. One would think, then, that listed prices would be high. But if you check nada that price will be right on nadas or real close. I have a acura tsx and they have a very good resale value. Bottom line is carmax is going to give you a price they feel good about. Thats why your carmax offer may be lower or higher than kbb. What a kelley blue book value really does surprise. The company says that it takes into account a cars current market desirability, its own inspection, a test drive, and a vehicles history report when making an offer. We recognize that some modifications increase the value of your car or truck. The representative was really nice and professional.
Carmax sets their own used car values so you cant anticipate an offer by exploring kelley blue book, ebay, craigslist, etc. Get the best prices on great used cars, trucks and suvs for sale near you with edmunds. Search new and used cars, research vehicle models, and compare cars, all online at carmax. When buying or selling a used car, many people rely on the kelley blue book kbb, which has been around for more than 90 years. We decided to sell our car, so we checked the blue book value, listed for private party sale, and also go a carmax bid. Next, you can take your car to that local carmax, and let an appraiser. A quick tour of kelley blue books usedcar valuation service shows you why. You might want to have carmax do an appraisal anyway because like instant cash offer you get a baseline market value for your vehicle. Second, carmax prices are not based on kbb, blackbook, or any other online car shopping resource. Black book values focuses on data points that can help lenders and dealers better identify vehicles with lower risks and higher potential profitability.
To sell your car to carmax, you need to schedule a 30minute appraisal at one of their storefronts. We were disappointed by the carmax offer, as the buyer blatantly disregarded all of the upgrades our car hadleather, nav, bluetooth, etc. Kelley blue book new and used car price values, expert. Nada blue book values for used cars, certified preowned cars and more, brought to you by the national automobile dealers association.
They only offered me half of kelley blue book they have my same care listed for double what they wanted to pay me. While marcey points out that your appraisal offer at carmax is the same whether you buy a car from them or not, he agrees that flexible tradein values are standard practice for many in the. The year, make, model, mileage, interior and exterior condition of the car or truck aftermarket modifications. Carmax employees reveal why the company may not be the best. Therefore, you should never use nada books for real references. Kelley blue book is probably best known for trade in values and private party values for the car you already have. This is an as is value that does not include any warranties. Kelley blue book vs edmunds used car price guide most individuals buying or selling cars will use mass market guides to help gauge market prices. The blue book value is all well and good, but its not like kelley is going to buy your car for that amount. Usually, those who use one are also familiar with the other. I first took the car in to carmax for an appraisal. How carmaxs usedcar prices compare to kelley blue book. Carmax can evaluate tradeins for free and make you an offer that is good for. A quick tour of kelley blue books usedcar valuation.
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