What is Kelley blue Book

 

What is the best way to determine the fair market value of my car?

Using sources such as Kelley's Blue Book or Edmunds to get a ballpark figure. Then go to internet marketplaces to get close approximations depending on the vehicle's mileage and condition. Finally, a qualified mechanical inspection and assessment may assist in determining a more precise price range.

Is retail value the same as fair market value?

No, a private sale would determine fair market value. A greedy salesperson justifies the expense with a range of far fetched tactics, therefore retail value is usually considerably over fair market value. When it comes to negotiating the price of a vehicle, using the Kelly Blue Book as ammo is usually unsuccessful.

Finding comparable vehicles in your area is a more accurate technique of determining fair market value. Don't be deceived by a car dealership that tries to put a premium on retail value; it's all a ruse; everything is negotiable.

Is Kelly Blue Book a Canadian publication?

No, it began in the United States, but due to its success in Canada, it now has a dedicated.CA website that reflects price. Due to reasons such as duties/tariffs and reduced supply, vehicles in Canada are often more expensive than those in the United States. manufacturing factories in the United States of America The best ways to appraise a vehicle are to use websites like Craig's List, eBay, and Kijiji. Be cautious, there are a lot of fake listings out there, so do your research before settling on a price. Find at least three reputable postings before deciding on your fair market value.

What is a NADA value, and what does it mean?

The National Automobile Dealers Association is abbreviated as NADA. Used cars, certified pre-owned cars, and other vehicles are valued. Be aware that using NADA for new values may not result in a price reduction during the vehicle negotiating process.

Is it more accurate to use NADA or KBB?

It's like comparing apples to oranges: a consumer is more likely to use Kelly Blue Book, while a dealer is more likely to use NADA, so choose your value source wisely. Active, legitimate listings in an internet marketplace are more likely to result in savings or a reliable valuation than statistics based on NADA or KBB in most circumstances.

When negotiating a price, it's preferable not to go in alone and to avoid selling/buying to/from strangers.