For many folks, the most stress in buying a new car is not in negotiating the purchase price of the car they desire, but in establishing a fair trade in value for their current car. Where should a car buyer look to find the value of the car they are trading in?
There are two original resources for establishing the value of a used vehicle, Kelly Blue Book and Blackbook. With Kelly Blue Book vs. Blackbook, which gives the more realistic value of the used car to be traded in? Are there any other online resources where one can find an estimated value of their vehicle?
Value Used Cars
Kelly Blue Book is a great tool that is honestly accessible online for consumers to visit. One just enters some basic data about their vehicle, and then receives an appraised trade in value of their car based on its estimated condition. This judgment is going to approximately all the time be higher than what one will find with Blackbook, and because of that, Kelly Blue Book is considered "user-friendly" because it gives the user a high trade in value for their car in question. Having a high valuation is great, but what happens when one visits the dealership?
If you have traded in a car before at your local dealership, you experienced a moment when after the sales rep looked at your car and answered some basic questions, they left you for a short time as they went back to their owner to found the trade in value. This "secretive" process was where the dealership would explore your car against the Blackbook data that they subscribed to so as to get a fair value for your vehicle. The dealership utilizes Blackbook as their original reserved supply as it provides current pricing trends for your used car based on actual sales from recent auctions. While your local dealership might keep your trade in car for resale at their used car lot, they often send your trade in directly to auction, and Blackbook shows them the most recent sales data. Since the buyer typically never had passage to Blackbook, they would come in with a high estimated value for their trade in from Blue Book, and then would get a lower price from the dealer that used Blackbook, and then the stressful negotiation would begin. The buyer would feel that the dealer was trying to "low-ball" them while the dealer would feel that the buyer had an unrealistic price and they would lose money if they sold their car at auction if they standard that high trade in value. Where is the solution?
I believe the explication lies in better comprehension the differences in the middle of both services, and for the dealership to be more transparent with what they are utilizing to value the trade in. As the consumer, when you visit the dealership, ask the dealer to show you directly the Blackbook valuation, and ask your sales rep how they came up with your valuation. Today's rapidly changing shop has also meant some major changes at many dealerships where you can now passage Blackbook directly online to get the valuation yourself. It is also important to be realistic in your expectations. If you pick to sell your car yourself, you should expect to get a higher price in return for your efforts and time selling your car. However, if you want to trade in your car to your dealership, they will be handling this work for you, hence, your trade in value will be lower than what you might expect selling it yourself.
Are there any other ways to check your used car value online? One source you might consider is eBay Motors. The best reserved supply for establishing the value of your car is to see what other population have paid for the same car in the current market. If you explore your car by looking at completed auctions on eBay Motors, you can get a rough idea of what other population have paid for your year/make/model of car. Remember to only look at completed auctions that have honestly sold (not auctions that ended without a reserve being met).
Regardless of what reserved supply you use, the extreme value must be established in the middle of yourself and your local dealership, and the final value must be placed after a corporal inspection of the vehicle. This is fair to both parties, and while online valuation tools are quite helpful, the in-person inspection will resolve the final value.
Trade in Value of My Car - Where Should I Look?
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