What are REAL used car values???
What is my car worth? Have you ever asked that? There are so many variables on EVERY car that no two are worth the same amount. Why? Because so many have different options, conditions, mileage, wear and tear.
Used Car Values Explained
The first thing a car seller wants to know is how much cash their vehicle is worth. When it comes to figuring out what a car is worth, value can be found in a number of sources.
Kelley Blue Book
When most people start thinking about selling a car or truck, the typical question is, “What’s the blue book value on it?”
For used cars, Kelley Blue Book provides retail value, trade-in value and private party prices, which are based on comprehensive surveys of actual sales.
Edmunds.com
In 2000, they began offering two services for determining vehicle values called True Market Value Used Vehicle Appraiser: Estimates transaction prices for used vehicles bought and sold by dealers and private parties.
NADAguides.com
NADAguides.com has been offering an array of online information, products and services for vehicle buyers and sellers. Online information includes used car prices based on a variety of criteria including overall category (e.g., hybrid, luxury car, van/truck), year, make, model and trim, mileage and options.
Black Book
Black Book offers subscription-only services, including Black Book Daily and Black Book Online, which are designed to track trade-in values for used vehicles.
Wholesale / Auction Value
Wholesale value is the price car dealers expect to pay for a car. Wholesale vehicle prices can be helpful in determining a vehicle’s price, but only as a benchmark for comparison’s sake.
Why NONE Of These Matter...
None of the above sources BUY cars, NONE of them. They are price guides that sell advertising and information only. The TRUE value of your car is determined only ONE way...the MOST someone will pay for it and the LEAST you will sell it for!
Junk car prices are at an ALL TIME LOW (Google "scrap metal prices" if you need more proof!) and therefore a car that was worth $400 a year ago is now worth $150! YES, it's THAT bad on the junk side.
Used Car Values Explained
The first thing a car seller wants to know is how much cash their vehicle is worth. When it comes to figuring out what a car is worth, value can be found in a number of sources.
Kelley Blue Book
When most people start thinking about selling a car or truck, the typical question is, “What’s the blue book value on it?”
For used cars, Kelley Blue Book provides retail value, trade-in value and private party prices, which are based on comprehensive surveys of actual sales.
Edmunds.com
In 2000, they began offering two services for determining vehicle values called True Market Value Used Vehicle Appraiser: Estimates transaction prices for used vehicles bought and sold by dealers and private parties.
NADAguides.com
NADAguides.com has been offering an array of online information, products and services for vehicle buyers and sellers. Online information includes used car prices based on a variety of criteria including overall category (e.g., hybrid, luxury car, van/truck), year, make, model and trim, mileage and options.
Black Book
Black Book offers subscription-only services, including Black Book Daily and Black Book Online, which are designed to track trade-in values for used vehicles.
Wholesale / Auction Value
Wholesale value is the price car dealers expect to pay for a car. Wholesale vehicle prices can be helpful in determining a vehicle’s price, but only as a benchmark for comparison’s sake.
Why NONE Of These Matter...
None of the above sources BUY cars, NONE of them. They are price guides that sell advertising and information only. The TRUE value of your car is determined only ONE way...the MOST someone will pay for it and the LEAST you will sell it for!
Junk car prices are at an ALL TIME LOW (Google "scrap metal prices" if you need more proof!) and therefore a car that was worth $400 a year ago is now worth $150! YES, it's THAT bad on the junk side.