KBB vs NADA

[twodko]

I'm curious about the forum's opinions on these two "value" indexes. I have always felt KBB vehicle price indexes were used by car dealers to screw people out of what their vehicles are actually worth...private party sales.

I have found NADA price indexes far more accurate as to what a vehicles "real world" private party value is.

For vintage muscle cars like ours, NADA prices seem to track Mecum/Barrett Jackson auction sales pretty close.

Thoughts........?

[chargerboy69]

Not sure with cars, but at my RV dealership we use only NADA.

[Fred]

The Mrs. prefers PRADA.    (sorry Tom, I couldn't resist)

[twodko]

Of course she does and rightly so. She deserves the best.

That was quite good Fred. 

[Fred]

Yes, she's pretty much worth her weight in gold........even if she does say so herself ha ha!!!

[68X426]

Jeez, a thread with 2 men blowing kisses to each other across the ocean. 

Tom, I'm considering selling my daily driver, a MINI Cooper, and the NADA guides show a significantly higher price range than KBB (generally 12%). So of course I'll go with NADA. I noted that KBB asks for a lot more info on options, but priced everything lower anyway.

[twodko]

Alright! Truth be told its a three-way between me, Fred and Skip........we're working on TuffCat. He just doesn't know it yet. We're all going to meet in New Zealand @ Christ Church and blaspheme for a week! 

Dan......a Mini Cooper with your back? I'm reaching for my ibuprofen. Owwww!

[Mopar440+6]

Every dealership/bank/credit union/etc I have ever worked with uses NADA. I refuse to look at KBB anymore and if someone throws the KBB in my face while buying or selling I usually tell them to take a walk...

[68X426]

a Mini Cooper with your back? I'm reaching for my ibuprofen. Owwww!

The MINI is the most supportive seat (and comfortable) I've ever had. There is a ton of room in it, which I need for my sorry 6'1" 244 pound (formerly 288 #) arse. Really, my back does fine in the car.

Returning to NADA, I also checked my Xterra for pricing and same situation - higher priced.

Here's a thought - take a look at CarMax.com. They are the world's largest used dealer, 1000s of cars on-line, and supposedly set one price, no haggle. It can provide a third opinion and certainly a real world price, not estimates.

[Indygenerallee]

Our family has a used car lot and I use the NADA. KBB is out of touch that and black book!!

[twodko]

I never though about CarMax Dan. That's another good pricing index. Thanks buddy!

[Homerr]

Someone here posted Hagerty Insurance's value tool here a while back:

http://www.hagerty.com/valuationtools/HVT/VehicleSearch

[Troy]

In my experience, and maybe it's my location here in the Midwest, KBB is way more accurate than NADA. NADA tends to be higher so, of course, I love to use NADA when selling! Many dealers around here use the "black book" (which I believe is wholesale) when it comes to offering money for your trade-in. This is significantly lower (in most cases) than the trade-in amounts listed by either KBB or NADA. Then they'll turn around and quote NADA values for the cars they are selling. Convenient!

When it comes to classic cars NADA is significantly off in my opinion. Perhaps, if you have a #1 car you could command those prices at a top level auction with lots of bidders who have more money than sense and need to prove it. Here in the real world, most classic cars don't sell for anything close to the "book price". A great example is my 68 Charger R/T. NADA lists it at $92,000. I can't think of a single 68 Charger (that didn't have a Hemi) that I have seen sell for anything close to that amount - even when prices were through the roof! In their defense, pegging the price on any classic car really needs to be done on an individual basis. So, as  "guide", these books can tell you what a particular car is worth compared to a similar car in a general sense. Other than that it comes down to common sense and the market conditions. I'm not sure KBB goes back that far but, even if they did, I doubt they are much more accurate.

Troy

[Tilar]

Thats easy... It depends on if you're buying or selling. When I buy I use KBB, When I price one to sell it's NADA.     And in all reality it always ends up somewhere in-between the two.

[twodko]

Thats easy... It depends on if you're buying or selling. When I buy I use KBB, When I price one to sell it's NADA.     And in all reality it always ends up somewhere in-between the two.

Yep!

[1974dodgecharger]

like troy saids......


when it comes to kbb those prices are more in line with reality but since we are dreamers we like the NADA. the only people i know that usa NADA is dealerships but they eventually get down to kbb values.


i knew a giy who was selling a 68 charger pure rust non matching. plugged in all the info on nada and told me 'see its worth 80k take ir or leave it'

i left....he still has it 8 years later in his yeard.........

[Tilar]

Used car prices are actually between NADA and KBB pricing due to the cash for clunkers fiasco driving the price of good used cars way up. I just sold a 96 Explorer I bought from the City of Oakwood down near Dayton with 70k miles (former police vehicle). I bought it for $1250 and sold it for high retail on kbb with NADA actually putting it at $2950. It sold for $3500. You just gotta check the market around your area.

[Indygenerallee]

Used car prices are actually between NADA and KBB pricing due to the cash for clunkers fiasco driving the price of good used cars way up. I just sold a 96 Explorer I bought from the City of Oakwood down near Dayton with 70k miles (former police vehicle). I bought it for $1250 and sold it for high retail on kbb with NADA actually putting it at $2950. It sold for $3500. You just gotta check the market around your area

X2

[Todd Wilson]

In my experience, and maybe it's my location here in the Midwest, KBB is way more accurate than NADA. NADA tends to be higher so, of course, I love to use NADA when selling! Many dealers around here use the "black book" (which I believe is wholesale) when it comes to offering money for your trade-in. This is significantly lower (in most cases) than the trade-in amounts listed by either KBB or NADA. Then they'll turn around and quote NADA values for the cars they are selling. Convenient!

Troy

YUP! You are correct! That's how it is around here!


Todd