Kelly determines blue book values by analyzing pricing info from realworld used car prices. Will a dealer ever pay full kelley blue book trade in. I know from experience with them in the past that if i say the blue book value is x, they say, well you should go sell it yourself, because we wont give you anything. After that, youll get an estimate of the kelley blue book used cars value. Kelley blue book is probably best known for trade in values and private party values for the car you already have. Theyll give you blue book on the car roughly, but they will take off absurd amounts for anything that they find wrong with a car. I know from experience with them in the past that if i say the blue book value is x, they say, well you should go sell it yourself, because we wont give. Carmax generally does not negotiate once an offer is given. So i had an offer from carvana, which was higher than the insult id received from carmax on my mercedes. Jun 20, 2018 so i was looking at selling my leased vehicle and the first place i usually go to is carmax where they inspect it and give you cash value. I assume they try to give you as little as they can for it.
Feb 28, 2020 the kelley blue bookand its equally popular websiteis one of the most trusted guides for automobile pricing, used by those who are buying or selling cars. Carmax employees reveal why the company may not be the best. Kelley blue book window stickers allow dealers to display the kelley blue book seal, consumertrusted kelley blue book suggested retail price, and the dealers reduced price on each vehicle. Does carmax give you nada or kbb value for your car. Due to higher gas prices and the japan disaster i would think all car prices are trending up. Took her old car to carmax and they gave me a crappy offer and said they changed policy and no longer match the kbb instant quote price. Mar 02, 2020 the kelley blue book value is a price for a particular automobile make and model from the largest automotive valuation company in the u. What do you do with a car with a kbb value of 4k but is prone to breaking down. I drove onto the carmax lot, a guy took it away for a test drive and to check it out, he came back and offered me more than the kbb tradein value, so i took it. The majority of tradeins will come in well below kelley blue book value. If they cant sell their car to a private party, they bring it back to carmax and take the cash. You cannot, i repeat, you cannot do research on the value of your car. New and used motorcycle pricing select a category or make to get the kelley blue book suggested retail price or tradein value for your motorcycle.
Thats why your carmax offer may be lower or higher than kbb. Tell me about selling a car to carmax ars technica openforum. There are a few circumstances where a dealer would offer close to the kbb value. Carmax will give you the wholesale value the amount that they expect they can sell or buy the same car on the market, leaving a reasonable profit for whoever does sell it them or someone else. So they do not buy your car, just sell your information to dealers that take it in. At carmax, well give you a real offer for your car thats quick, easy, and free. When i opened the engine it was spotless and i owned the car for two years. Til kelly blue book has been purchased by autotrader used car seller and nada guides has been purchased by j. The blue book value is all well and good, but its not like kelley is going to buy your car for that amount. Carmax can evaluate tradeins for free and make you an offer that is good for seven days. You can, however, get an estimate at carmax they give it to you in writing and then take it around to other places that buy cars and haggle based on.
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. Mar 23, 2018 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. Carmax lists the kelly blue book value of the vehicle and then its nohaggle price, which is usually slightly less. Havent visited the dealer yet just using the tools on their web site. Kelley blue book does not give a higher valuation for extended warranties, because there are too many variables involved. Get the kelley blue book value for your used car or tradein vehicle, find tools to help you with buying or.
Similar to nadaguides, values published by kelley blue book rely on a constant flow of pricing information from various industry sources. Can i realistically get the kelley blue book price. Ultimately, whether its black book or kelley blue book used car values, your tradein value is dependent on several factors including make, model, year, condition, accessories and. Use autotraders used car valuation tool to find the kelley blue book value of the car youd like to sell or buy. The kelley blue book and its equally popular websiteis one of the most trusted guides for automobile pricing, used by those who are buying or selling cars. They report two numbers, new vehicle price and trade in value. Kbb consider and why your carmax appraisal may be higher or lower than kbb. I dont like car dealers who offer to trade yours in for less than carmax because that cheapens the deal. Not only does carmax have locations all over the country, it also touts a. We decided to sell our car, so we checked the blue book value, listed for private party sale, and also go a carmax bid. Til kelly blue book has been purchased by autotrader used. But if they give nada value, id be happy with the rough tradein value.
If you have a newer vehicle avoid carmax at all cost. Researching your cars tradein value before heading to the dealership will. So anyone wanting to write how carmax ripped you off on an offer can read this and educate yourself. Trading in a car also complicates the purchase of a new car, giving. No matter what type of vehicle youre interested in, this pricing guide can help give you a better idea of how much you want to pay for your used car. But before i do, does carmax give you nada or kbb value for your car. You can expect a few hundred dollars below average trade in value if your car is in good shape. Kbb exists in its present incarnation only to sell add space on its website. How much does carmax give you for your car answers. If you plan to sell your car yourself, youll want to also research the kelley blue book private party value, which is typically higher than tradein value.
If you must trade in your car, heres how to get the most for. As a seller, you should do your best to show them the value of a trustworthy transaction which we will talk about in a moment. Both companies consider the following factors in their offersestimates. Carmax offers wholesale value for your vehicle, and does not rely on kbb or nada values.
In 2006, more than three million used and certified vehicles were sold in the united states displaying kelley blue book. The kelley blue book value is a price for a particular automobile make and model from the largest automotive valuation company in the u. How carmaxs usedcar prices compare to kelley blue book. Either of these methods will put cash in your pocket that you can spend, save or put toward buying another car choosing between these. We were disappointed by the carmax offer, as the buyer blatantly disregarded all of the. Kelley blue book private party value the kelley blue book private party value is the starting point for negotiation of a used car sale between a private buyer and seller. For over 90 years, kelley blue book has been the trusted resource for used car values, helping car owners understand what their used car is worth. Jul 24, 2018 save time on your next vehicle search by exploring prices of some of our bestselling vehicles in our 2018 used car pricing guide. When youre visiting a dealership, you can walk in confidently with the kelley blue book tradein value and tradein range for your car. This is an as is value that does not include any warranties. Having said that, is it realistic to get a kelley blue book price.
Those who have traded in their cars to carmax, how much did you get in comparison to kbb. Basically, they offer you what they know they can pay for that particular vehicle or get for it at a. Usually, those who use one are also familiar with the other. Trade in or sell your car with an official offer based on kelley blue book values. This is typically significantly lower than blue book trade in values. The most commonly used are the kelly blue book, and the edmunds used price guide. New and used motorcycles kelley blue book new and used. So i usually approach a dealer only after negotiating for the new car onlinephoneemail. Carmax does not look at kelley blue book, edmunds, or nada. How carmax s usedcar prices compare to kelley blue book. However, the price you will get is generally blue book tradein, with deductions for any slight imperfections. Listed automobiles are appraised, and market values.
Fair price is a matter of perspective, yours and theirs. Carmax completely low balled me and it wasnt close. Get a free offer in minutes and find out what you can get for your car today. And, blue book value doesnt mean that is what your car is going to sell for there are market factors that vary the final sales price of a car. Their process is fast, simple and easy to understand. For the simple reason they do not write checks for vehicles. Depending on the method of disposal, there actually may be more than one blue book value for the consumers car. Jun 01, 2016 when it comes time to sell your car, theres more than one way to do it. So i was looking at selling my leased vehicle and the first place i usually go to is carmax where they inspect it and give you cash value.
Second, carmax prices are not based on kbb, blackbook, or any other online car shopping resource. Now that youve got the kelley blue book trade in value mastered why dont you head over to the main kbb page and learn how to use the different used car values to figure the dealers used car cost. There software starts with good as then deducts, so theyre a little low. While carmax is the biggest seller of used cars, they take into account the cars value. They offered us more than we were hoping for we looked up values in kelley blue book.
Jan 03, 2010 the gist of this gigantic thread seems to be that carmax will take the car for less than blue book value but often more than traditional dealers. The final sales price depends on the cars actual condition and local market factors. When the time comes to sell a vehicle, most people will list the car in some form of. 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. The kelley blue book is the most popular usedcar buying guide. You as a knowledgeable seller can record kelley blue book value of your car. The price that matters is the price some party is willing to pay, so the real issue is whether carmax. 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. Only select new dealerships not all report numbers to kbb. Kelly blue book prices are completely ridiculous and inaccurate.
Why do you think the carmax way of selling cars is so profitable. A couple of the more popular methods are to sell it yourself or take advantage of kelley blue book sm instant cash offer ico. Fir example, my friend needed new cv boots on his integra. Will there still be a large fee situation that will cause headaches. A toyota dealer offered me 25,500 on trade first offer, 300 under invoice on the new car, and 1. Carmax looks at replacement value auction results and reconditioning cost along with profit margin and cost to sell servicing, sales cost etc. 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. Those would be sell value to private parties, estimated retail price, and tradein value. As for the cost they claim it costs for reconditioning, this where they receive. This list shares price ranges of our topselling vehicles from january 1, 2018, through april 30, 2018. Of course carmax and any other dealer is going to offer less than retail for a car. Given the pending model y availability im sure were not the only model 3 owners considering a trade for the model y. Kelley blue book values blue book values kbb vs nadaguides.
Tell me about selling a car to carmax ars technica. If the car was a very popular model or in short supply, a dealer would offer a better trade in price. Jul 12, 2014 if you must trade in your car, heres how to get the most for it. This means your vehicle will go to wholesale auction, and carmax. Most dealers do not use kbb for tradein wholesale values. Jul 03, 2018 you can sell your car the way you like. Read on to learn about how to sell a used car to carmax. Enter your vehicle info to receive a cash or tradein offer.
Before you rely on carmax to deliver an unreliable tradein value, see what the. A typical dealer will not just give you a check for your car, carmax will. Seems many people do not understand there is a difference between the wholesale price of a car and the retail price. Give us the details and well tell you if its a good one. Listed automobiles are appraised, and market values assigned. A quick tour of kelley blue books usedcar valuation service. I dont like car dealers who offer to trade yours in for less than carmax. Aug 28, 2011 you cannot, i repeat, you cannot do research on the value of your car. Carmax offers a variety of sedans, trucks and suvs to suit your needs. There is a carmax less than an hour from me, and im considering just taking the truck there. In addition to taking a vehicles year, make, model, mileage, location and condition into consideration, carfax historybased value. 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. Kbb and nada give the wholesale trade in value at approximately 28,500.
Again, kelley blue book values also will give you an idea of your. I could not get the kelly blue book value because it didnt list this years model year yet. Carmax appraisals consider many of the same factors as kelley blue book s kbb personalized estimates, but carmax does not use kbb to determine the value of a vehicle. If you must trade in your car, heres how to get the most. 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. Carmax vs webuyanycar how is we buy any car different.
Book value is an accounting term denoting the portion of the company held by the shareholders at accounting value not market value. Carmax sets the offer based on a few factors, including. 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. Price to book value is a financial ratio used to compare a companys book value to its current market price. Blue book trade in value, maximize your used car trade in value.
Vehicle history is an important factor in determining a cars value. Generally, the kelly blue book price is used for the vroom, carvana or carmax trade in value, though it may be adjusted down for any damage, high mileage or other factors. I know kbb does not sell nor buy cars so it is a made up number but how much of a hit should i expect between the two. Jun 25, 2012 we carefully appraised the 2004 mazda6 before we visited carmax. Did you get the kelly blue book value on your tradein. When you go on to get a book value on a specific vehicle it pushes you to go. Should you sell your car yourself or accept kelley blue book. They try to buy at low wholesale and sell at the top retail price. Many people incorrectly assume via online averages calculated by edmunds, kelly blue book, and other sources that these data banks are gospel. You will never know, and kbb, and other resources on line are updated every quarter. Kbb is somewhat subjective too, is your car in excellent shape or good, etc. Carmax will give you what is known as used car auction price for your vehicle.
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