hey everyone, just been wondering what's give a more accurate car value...granted huge grey area, and you can not go by either of these with NSX...but what would you consider to give more of an accurate value Kelly Blue Book Value, or NADA Guides?
Grey area...but whats more accurate Kelly/NADA Guides?
- Thread starter dlynes
- Start date
If your trading the car to a dealership......they will use the one that says the car is worth the LEAST.
If a dealership is selling you the car.....they will use the one that says the car is worth the MOST.
LOL :biggrin:
If a dealership is selling you the car.....they will use the one that says the car is worth the MOST.
LOL :biggrin:
If you want to see what the dealers use to evaluate a car's value, trade-in or otherwise, you need to peruse the "Black Book", an expensive guide not available to us civilians. It takes into consideration actual auction sales values. Do a search for it here on Prime, you may turn up something.
I'm too lazy to do a search myself, but I vaguely recall comments about how the NSX's value is particularly distorted in the Black Book simply because so few move in auction.
As far as NADA and KBB, I've found that NADA is used more on the east coast and KBB on the west coast. It is primarily used for banks to determine loan-to-value when lending and also serves as a somewhat useful guide for private party sales.
I'm too lazy to do a search myself, but I vaguely recall comments about how the NSX's value is particularly distorted in the Black Book simply because so few move in auction.
As far as NADA and KBB, I've found that NADA is used more on the east coast and KBB on the west coast. It is primarily used for banks to determine loan-to-value when lending and also serves as a somewhat useful guide for private party sales.
i don'know of any financial institutions that loan from KBB values. NADA is more of an accurate price IMO. The black book shows auction results, but that REALLY depends on miles, condition etc. Galves and a few other are floating around somewhere. Not very many Nsx's at auctions the use black book for accuracy,etc. I was curious of peoples choices also.
I've been speaking with USAA about loans and insurance for an NSX... they use NADA, which is a double bladed sword. They will loan me more money because the NADA value is higher than KBB, but I think I will get dinged on the insurance end! Oh well... but now, worry about paying later!
splitz said:
they sure do... i got quoted $471 for 6 months full coverage... and under 6% for a loan for a 1995 -T.
if anyone out there qualifies for it, GET IT... also refinanced the aviator through USAA for an overall savings of $12k!!!
orbusrex said:
Who is USAA?
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Full coverage for my 94 Red X is $710 a year through Mercury....can't beat it. I trust the mention of this company on this forum is not a no no.
GHOSTRIDER
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If anyone ever wants a Black Book value shoot me a PM, I always have the current guide.
- Joined
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I commented on kbb, and NADA in this post..
http://www.nsxprime.com/forums/showthread.php?t=58220
Sometimes they are both off on the true value of the car.
Sometimes Kbb is more accurate on certain cars then NADA.
And sometimes Nada is more accurate on the price then KBB.
But i think KBB is more accurate in more cases then NADA...
I gave the example in another post, where NADA was off by $20,00 on my Mercedes-Benz s500....
Another reason is i think more people (not dealers or banks) go by kbb then NADA...
I think in my opinion Edmunds true market value, is usually in between kbb and nada (edmunds could also be off on certain cars as well).
The black book is more beneficial to dealers....
The best way is to get the median of KBB, NADA, and Edmunds...
Even better...and the best way in my opinion...look at the classifieds (internet and newspapers)and that will give a sense or an average of the EXACT MARKET VALUE of how much cars are going for... :smile:
http://www.nsxprime.com/forums/showthread.php?t=58220
Sometimes they are both off on the true value of the car.
Sometimes Kbb is more accurate on certain cars then NADA.
And sometimes Nada is more accurate on the price then KBB.
But i think KBB is more accurate in more cases then NADA...
I gave the example in another post, where NADA was off by $20,00 on my Mercedes-Benz s500....
Another reason is i think more people (not dealers or banks) go by kbb then NADA...
I think in my opinion Edmunds true market value, is usually in between kbb and nada (edmunds could also be off on certain cars as well).
The black book is more beneficial to dealers....
The best way is to get the median of KBB, NADA, and Edmunds...
Even better...and the best way in my opinion...look at the classifieds (internet and newspapers)and that will give a sense or an average of the EXACT MARKET VALUE of how much cars are going for... :smile:
GHOSTRIDER
Suspended
^^^"Even better...and the best way in my opinion...look at the classifieds (internet and newspapers)and that will give a sense or an average of the EXACT MARKET VALUE of how much cars are going for... "^^^
That would what is being ASKED for the cars, NOT what they are GOING for.
That would what is being ASKED for the cars, NOT what they are GOING for.
- Joined
- 5 June 2005
- Messages
- 234
(Long post ...but informative... :biggrin: )
"That would what is being ASKED for the cars, NOT what they are GOING for"
really?!!!
well of course that is what is being asked for , not what they are going for...
But from that ,you calculate an educated analysis of what they are going for...
By looking at the classifieds (i.e autotrader, cars.com, newspapers..etc..), you can safely get a better average estimate of exactly how much the car is worth and selling for ..at that matter.....better then kbb, nada, edmunds..etc.....
I worked for couple of years at a company that bought hundreds of cars a month from the classifieds(internet, newspapers,etc)..and shipped & sold them overseas. So i looked at thousands of classifieds, and contacted hundreds and hundreds of people from the classifieds, bought their cars, and therefore knew how much they eventually went for..
kbb, nada, is a referrence value of how much you need to ASK, not how much they are going for. Even the black book, and the one used by dealers, gives you weekly values of auctioned car prices (say at manaheim auctions). They change weekly, and is used as a referrence as an estimate of how much you can get the car close to... thats the point of this whole thing
Let me explain how you can determine, what the cars are GOING FOR, in the classifieds, from what they are being Asked , and thus get a far better value then any book can give you. :tongue:
Say your looking at 91 NSXs..with around 30kmi to 50kmi....(i.e autotrader)..
you will see there is a curve of values... you will see that
1st NSX they want close to 40k
2nd NSX they want 38k
3rd, 4th, 5th, 6th, 7th NSX, you see them at $34k,$33k,$32k,$31k,$30k...
8th NSX for $23k....
Given that these NSX are in similar range 30kmi-50kmi.and the same general condition...
The first 2 around 40k are high priced...the last one is very low priced(usually when that happens, there usually something is up with the car, and if there isnt which is rare, then thats a deal of a lifetime, and the car is gone for that price in first day or so).
So the normal median asking value is around $33k.
Most people who are asking say $33k for a car like that, will not let go for $24k, or $26k...because its already at an average asking price. In most cases, they are negotiable by a $1k or $2k....so they end up selling for $32k or $31k....yes there are some cases where a guy might come down $3-$5k.on the price...but thats rare...and it gets even harder and harder to get that when a car is priced at the lower spectrum of the price range.....
So from my experience of calling and buying hundreds of cars from classifieds ads, or by looking at the numbers ...you can say that the average median ASKING price for a 91 nsx with 30-50kmi...is around $33k...and what is likely they are GOING for on average is around $31k........
So if you paid $38k for 91 30-50kmi you paid a bit high
If you paid $33k you paid the average.
If you paid $30k you got a good deal.
If you paid $28k you got a very good deal
If you paid $26k you got a steal !
And thats how you generally tell what is the average GOING price from the ASKING price from the classifieds far better then Kbb..or any other book for that matter (and by the way kbb on 91 NSX with 30-50kmi is $19k )....
:tongue:
"That would what is being ASKED for the cars, NOT what they are GOING for"
really?!!!
well of course that is what is being asked for , not what they are going for...
But from that ,you calculate an educated analysis of what they are going for...
By looking at the classifieds (i.e autotrader, cars.com, newspapers..etc..), you can safely get a better average estimate of exactly how much the car is worth and selling for ..at that matter.....better then kbb, nada, edmunds..etc.....
I worked for couple of years at a company that bought hundreds of cars a month from the classifieds(internet, newspapers,etc)..and shipped & sold them overseas. So i looked at thousands of classifieds, and contacted hundreds and hundreds of people from the classifieds, bought their cars, and therefore knew how much they eventually went for..
kbb, nada, is a referrence value of how much you need to ASK, not how much they are going for. Even the black book, and the one used by dealers, gives you weekly values of auctioned car prices (say at manaheim auctions). They change weekly, and is used as a referrence as an estimate of how much you can get the car close to... thats the point of this whole thing
Let me explain how you can determine, what the cars are GOING FOR, in the classifieds, from what they are being Asked , and thus get a far better value then any book can give you. :tongue:
Say your looking at 91 NSXs..with around 30kmi to 50kmi....(i.e autotrader)..
you will see there is a curve of values... you will see that
1st NSX they want close to 40k
2nd NSX they want 38k
3rd, 4th, 5th, 6th, 7th NSX, you see them at $34k,$33k,$32k,$31k,$30k...
8th NSX for $23k....
Given that these NSX are in similar range 30kmi-50kmi.and the same general condition...
The first 2 around 40k are high priced...the last one is very low priced(usually when that happens, there usually something is up with the car, and if there isnt which is rare, then thats a deal of a lifetime, and the car is gone for that price in first day or so).
So the normal median asking value is around $33k.
Most people who are asking say $33k for a car like that, will not let go for $24k, or $26k...because its already at an average asking price. In most cases, they are negotiable by a $1k or $2k....so they end up selling for $32k or $31k....yes there are some cases where a guy might come down $3-$5k.on the price...but thats rare...and it gets even harder and harder to get that when a car is priced at the lower spectrum of the price range.....
So from my experience of calling and buying hundreds of cars from classifieds ads, or by looking at the numbers ...you can say that the average median ASKING price for a 91 nsx with 30-50kmi...is around $33k...and what is likely they are GOING for on average is around $31k........
So if you paid $38k for 91 30-50kmi you paid a bit high
If you paid $33k you paid the average.
If you paid $30k you got a good deal.
If you paid $28k you got a very good deal
If you paid $26k you got a steal !
And thats how you generally tell what is the average GOING price from the ASKING price from the classifieds far better then Kbb..or any other book for that matter (and by the way kbb on 91 NSX with 30-50kmi is $19k
)....:tongue:
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