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. Nada also provides data to banks, finance companies, insurance companies, and government agencies. Kelley blue book values blue book values kbb vs nadaguides. Its kelley blue book has become the standard automotive price guide for dealers and consumers alike. Ive heard the book dealers use is different from the online version. What is a nada value and why is it important for my loan. Get a peek at the best new chrome and steel coming your way.
Because of this, there are several ways that car buyers can use their website. Therefore, you should never use nada books for real references. Nadaguides national appraisal guides and kelley blue book both have a long. Similar to nadaguides, values published by kelley blue book rely on a constant flow of pricing information from various industry sources. 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. Often recognized as the premier publications in their industry, both guides can be counted on to provide unbiased facts and serve as an essential tool during the car buying process. In fact most banks refer to it when they are considering giving out a loan with the boat as security or if the client is considering buying a boat.
Many of us may remember when buying a used car ranked right up there with a trip to the dentist. Where besides kelley blue book can you determine used car trade. 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. For almost eighty years, nada guides and kelley blue book have served as a. Many classic cars are valued based on the previous sale price of similar cars, and finding comparable cars may not be easily achieved. For almost eighty years, nada guides and kelley blue book have served as a guide for establishing price points, helping buyers and sellers fairly negotiate the value of new and used cars. Government kelley blue book values are ideal for use in taxation and registration.
They are very similar, but are different in a few key areas. Research the latest new car prices, deals, used car values, specs and more. The bottom line, if you like the car, its in good shape, and is comparable to ones in the area, and you like the. Ask whether their ltv percentage is calculated upon the vehicles loan value, trade value or retail value. You can find retail, private party, and trade values there. In the most basic sense, kelley places a large amount of emphasis on mileage, condition, features, and popularity, while nada tends to focus on the vehicles wholesale price i. This is the value that the dealer will be looking at. Now kelley is using the internet to make that information even more readily available. Rv listing site use rv listing sites like rv trader and rvt to see what the going rate of your rv is in your market. They will use a number of resources, namely kelley blue book and nada tradein value, but they mainly rely on their years of experience appraising cars.
The nada guides are a comprehensive vehiclelisting website that publishes bluebook type specifications, research material, and pricing information on boats and personal watercraft as well as other types of vehicles. For a versus comparison for nada blue book values visit here. Which kelley blue book rating do banks use to determine the value of a used car. The most commonly used are the kelly blue book, and the edmunds used price guide. In this article, well explore kelleys history, show you how to use its price guides and web site, and explain where it gets pricing information. Where besides kelley blue book can you determine used car. How to find the value of a car by vin number it still runs. Nada organizes the nada boats value information they gather by type of price, ranging from total wholesale price, suggested retail. 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. Nada used car prices, edmunds used car prices, and kelly.
The difference between kelley blue book and nada tradein. If you have been in an auto accident, your insurance company will compare the cost of repairs to the value of your vehicle. What do dealers really mean when they refer to the blue book price. From used car lots to new car dealers, they all claim to sell cars at or below blue book while. Learn about kelley blue book, edmunds,the black book, n. Fortunately, there is a new and improved service for car valuation thats unique to canada, and its governed by the canadian black book. Kelley blue book canada an easier way to check out a car. Kelley blue book and edmunds both offer very good general reference. Usually, those who use one are also familiar with the other. It is used by most banks and dealers to find out the exact worth of a car. 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. If you are shopping for cars, rvs, motorcycles, boats, and more, then you are probably hearing terms like nada value.
Nada but, nada is usually used by banks or car dealers to show you an inflated price value. Nada guide s ability to appraise preowned boats and accessories and report these findings to consumers, dealers, and financial institutions ensures that the prices you find in their guide are as reliable as any. Now in adds they will so much off kelley or edmunds. How to use the nada guide to determine a boats value. Remember how the kelley blue book and similar websites are only acceptable in the united states market. Values finance, insurance, government kelley blue book b2b. Kelly blue book and nada guides serve as the base assessment for the actual value of the vehicle you are purchasing. The kelley blue bk tradein value is used to discover the approximated cost at which a person could offer a watercraft or boat.
Vehicle history is an important factor in determining a cars value. Black book and nada are much closer to what the cars would sell for most banks use nada to determine your max. Nada guide, black book and kelley blue book compared autoblog. Large rv dealer sites use large dealer sites to see what similar new rvs are selling for in your area. The kelley blue book has become one of the major merchandising devices of modern vehicle selling. It is used by banks and dealers to determine the national value of your rv. Kelley blue book has developed, refined, and implemented thousands of complex algorithms based on extensive and continuous data research and theyve been doing it for almost 100 years. Boat values kelley blue book used cars and motorcyles. If it is a brandnew car, they may use the msrp value if it is a used car, they may use the clean retail value. Nada guides is a comprehensive vehiclelisting website that publishes bluebook type specifications, research material, and pricing information on boats and personal watercraft as well as other types of vehicles. Kbb offers you the make, design and engine type of the boat to establish the tradein value.
How to find the value of a car by vin number by michelle dwyer updated january 18. They might also check with dealers in your geographical area to gauge the price of a car equivalent to the one you lost. For over 40 years, kelley blue book has been the trusted resource for motorcycle values and pricing. Determining the value of a classic car can prove challenging. The discrepancy can be attributed to the simple fact that kelley blue book and nada guides use two different methods for calculating a vehicles value. The kelley blue book is the most popular usedcar buying guide. Which kelley blue book rating do banks use to determine. Moreover, private party and tradein sale prices do not accurately account for. Deduct another 7% to 10% of that figure to establish the rv wholesale value in the dealers copy of the nada book. How to find classic car blue book values by jason unrau. But if you check nada that price will be right on nadas or real close.
To price the value of your car, insurance companies often use estimates prescribed in valuation guides such as the kelley blue book and the national automobile dealers association, or they might have their own formulas. They have a website that is open to the public as well. Dealership new scam, nadablue bookblack book value. The kelley blue book used car value is used on sites like autotrader. We comparison shop, which is what retail buyers should do as well.
Banks use nada but dealers use blackbook, vauto, and auction reports. Nadabut, nada is usually used by banks or car dealers to show you an inflated price value. The main difference between kelley blue book and nada tradein value is the data they use. I use the kelley blue book and the black book for used car valuation. How to find classic car blue book values it still runs. Most dealers do not use kbb for tradein wholesale values. Nada guides is the leader in accurate vehicle pricing and vehicle information. You can visit an appraisal site such as the kelley blue book and get an. Banks usually use the nada value, at least they have in the past. Now the dealer of course wants to use the inflated kelly blue book value. Nada used car prices, edmunds used car prices, and kelly blue book used car prices whos right. The national automobile dealers association, or nada, offers vehicle appraisal information through two links on its website.
Nada is the blue book that both buyers and sellers refer to when trying to price a water craft. Dealers can use both kelly blue book and nada values depending on their preference. Nada blue book values for used cars, certified preowned cars and more, brought to you by the national automobile dealers association. Kelly blue book is the biggest crock of shit ive ever seen. How does an insurance company decide on the value of a. In the northeast, the banks rely on nada, used car dealers prefer to use kelly blue book, and used car buyers are turning more and more to edmunds. Kelley blue book provides easy access to new and used vehicle values and specification details to help drive decisionmaking from underwriting to claims. You may be wondering how it will affect your car, boat or rv loan. The banks can use multiple values when providing a loan. One loan officer told me that the kelly blue book price was too inflated, and thats why they went with nada. Originally born out of a car dealerships need to assign values to its inventory of automobiles, kelley blue book began publishing an extensive list of automobile values in 1926.
How dependable is kbb, nada, edmunds, etc for car valuation. Car dealers are experts when it comes to deciding a tradein price. Nada guides also provides data to banks, finance companies, insurance companies, and government agencies. Nada, edmunds, and kelly blue book are clamoring to be. Manufacturers, wholesale auctions, franchised and independent dealers, rental companies and financial institutions are sources for the data used to calculate vehicle prices. Manufacturers, wholesale auctions, franchised and independent dealers, rental companies and financial institutions are among the data sources used to calculate new and used vehicle prices. The main difference between kelley blue book and nada tradein value is the data they use kelley blue book gathers information to determine pricing by using information from. The only truly accurate value guides are the ones that dealers and banks use. How does kelley blue book determine the value for a given. Funny, when i bought my mazda last year, i found nada to be the highest of nada, kelly, and edmunds.
Nada pricing is often higher than kelley blue book since the algorithm has a standard that calls for all. Much profit are willing to advance the dealer its not the best interests banks will. When we attempt to value a used vehicle we use a number of data points. Most lenders will quote you a loan to value based on one of these two factors. If negotiating to buy a used car from a private seller, show kbbs car condition definitions to the seller, especially if you believe the car is priced too high.
Thr r lots f rn u m want t know th value of ur boat. Bottom line, neither are perfect, but kelley will always rip off the consumer, while nada is considered the best pricing guide available. If you use kbb as a general guide and follow the suggestions below, kelley blue book data can be very useful. Find the right value to sell or purchase and never overpay again. If your rv is an upperline or luxury rv, or if it is a specialty rv you will need to deduct even more 10% to 15% of the low retail figure. If the cost of repair is close to or more than the value, your.