Carmax appraisal vs kelley blue book

Most people think kelley blue book kbb is the holy grail when it comes to the value of vehicles. This means your vehicle will go to wholesale auction, and. The most commonly used are the kelly blue book, and the edmunds used price guide. The blue book value is all well and good, but its not like kelley is going to buy your car for that amount. Depending on the age and condition of your vehicle, the amount of appraisal research youve completed on your own, and how much time you can devote to selling your car, you might find that carmax suits. 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. I sold 2 cars there both with really really high mileage, they seemed to give me kelly blue book value rounded to the nearest hundred. Carmax vs webuyanycar how is we buy any car different.

Take a 2010 honda accord ex sedan in very good condition. The price that matters is the price some party is willing to pay, so the real issue is whether carmax pays more or less than other dealers or individuals. When i opened the engine it was spotless and i owned the car for two years. Usually, those who use one are also familiar with the other. This criteria includes the vehicles history, current condition, make, model, year, mileage, and desirability in the market. The representative was really nice and professional. 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.

When buying or selling a used car, many people rely on the kelley blue book kbb, which has been around for more than 90 years. Carmax does not look at kelley blue book, edmunds, or nada. So, we will examine what the kelley blue book instant cash offer is. Black book values focuses on data points that can help lenders and dealers better identify vehicles with lower risks and higher potential profitability. You should buy from carmax if you like testdriving lots of cars before you commit and you should. Before we do that, ill start by showing the kelley blue book value of my car as a baseline.

But if you check nada that price will be right on nadas or real close. The kelley blue book is the most popular usedcar buying guide. If it does, they up somewhere along the line, either in the initial appraisal or. Second, carmax prices are not based on kbb, blackbook, or any other online car shopping resource. Black book used car values kelly black book nadaguides. Check car prices and values when buying and selling new or used vehicles. Can i dispute a car estimate from carmax if the kelly blue. This is a timehonored tradition ive done with each and every one. Nada blue book values for used cars, certified preowned cars and more, brought to you by the national automobile dealers association. To sell your car to carmax, you need to schedule a 30minute appraisal at one of their storefronts. How to find the value of a car by vin number it still runs. If you still owe money on the loan, and the vehicles appraised value isnt enough to pay it off.

Carmax sets the offer based on a few factors, including. Nadabut, nada is usually used by banks or car dealers to show you an inflated price value. Thats why your carmax offer may be lower or higher than kbb. Carmax appraisals use the same general criteria as personalized kelley blue book estimates. Get the best deals on used cars for sale near you edmunds. How carmax s usedcar prices compare to kelley blue book. We decided to sell our car, so we checked the blue book value, listed for private party sale, and also go a carmax bid. We will consider kelley blue book and our own expertise to. Carmax can evaluate tradeins for free and make you an offer that is good for. They only offered me half of kelley blue book they have my same care listed for double what they wanted to pay me. Various consumer reports say that carmax appraisals often come in slightly below kelley blue book value, though not always. As carmax has folks who get great money for their car as well as others who wish they had gotten more, there are some ways you can get good money for your car. Kelley blue book kbb is an automotive shopping site.

Im referring to postsale data from manheim, adesa, and other auctions. People sometimes call up the cars kelley blue book value. Look up your cars value on the kelley blue book or edmunds sites. I took my dodge viper to carmax for an appraisal autotrader. One would think, then, that listed prices would be high. Get used car values with edmunds car value appraisal tool. I have a acura tsx and they have a very good resale value.

How carmaxs usedcar prices compare to kelley blue book. Carmaxone of the largest car buying and selling companies in the united statesprides itself on its hasslefree process. Search new and used cars, research vehicle models, and compare cars, all online at carmax. You cannot, i repeat, you cannot do research on the value of your car. 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.

The folks at kelley do a lot of research, and they have years of data, so theres really no reason to not trust what they publish. 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. Anonymous i went to carmax to get a appraisal and was very disappointed. You can visit an appraisal site such as the kelley blue book and get an estimate of a cars worth and then apply any price adjustment from your vehicle history report to get a more accurate value. If you choose to sell your car yourself, the private party value stands as a starting point. It is one of many tools used by car dealers to determine car values for their inventory. We just sold a car to them and we werent looking to buy another care, so it wasnt a tradein but they handle tradeins as separate sales transactions anyway. Carmax employees reveal why the company may not be the best. While marcey points out that your appraisal offer at carmax is the same whether you buy a car from them or not, he agrees that flexible tradein values are standard practice for many in the. Here are a few reasons why the values may not match. We set our baseline for a holy grail offer at kelley blue books.

A quick tour of kelley blue books usedcar valuation. Kelley blue book is hit or miss, the market changes too fast for kbb to keep up, but that doesnt mean its useless, you just need to do more research. Carmax sets their own used car values so you cant anticipate an offer by exploring kelley blue book, ebay, craigslist, etc. We recognize that some modifications increase the value of your car or truck. This way you will have an estimate of what your car is worth. I took my dodge viper to carmax for an appraisal duration. What you need to know about selling your car bidlane. The downside is the value kbb gives people is seldom the right value. I first took the car in to carmax for an appraisal. Took my brand new 2018 mustang gt to carmax, shocking. Tell me about selling a car to carmax ars technica.

We were disappointed by the carmax offer, as the buyer blatantly disregarded all of the upgrades our car hadleather, nav, bluetooth, etc. Just like any good reseller, carmax makes its money by buying low and selling high. They offered us more than we were hoping for we looked up values in kelley blue book. This means your vehicle will go to wholesale auction, and carmax generally makes very little on these. Kelley blue book values reflect local conditions in over 100 different geographic regions and are updated weekly to give consumers the most uptodate used car pricing information. Now in adds they will so much off kelley or edmunds. You might say we literally wrote the book on car values. Therefore, you should never use nada books for real references. This is an as is value that does not include any warranties. Most used car sellers, including carmax, use the prices calculated by kelley blue book, or kbb. Vehicle history is an important factor in determining a cars value.

Get the best prices on great used cars, trucks and suvs for sale near you with edmunds. We have over 5 million cheap used and certified preowned cpo vehicles in our database and we provide you. Kelley blue book is probably best known for trade in values and private party values for the car you already have. But your carmax offer may be lower or higher than the kbb estimate because carmax uses its own data and inspection process. I recently drove my 1997 dodge viper gts to carmax to find out what theyd offer me for it. Look up the nada used car value and also check your cars tradein value using pricing guides such as and kelley blue book. Can i dispute a car estimate from carmax if the kelly blue book value is higher. However, this is only an estimate based on your best educated guess.

Instant cash offer is a solid offer for a particular amount of money, to purchase a consumers car. According to kelley blue book, the brands with the best resale value are toyota on the midend and porsche on the luxury side of things. A quick tour of kelley blue books usedcar valuation service shows you why. Nada numbers come from the auctions and dealer reports. Next, you can take your car to that local carmax, and let an appraiser. Heres how to get a carmax appraisal and turn your vehicle into cash rather. You can expect a few hundred dollars below average trade in value if your car is in good shape. The kbb does not offer consumers the opportunity to enter a vin. What is the best resource for used car values, clearbook. In business since 1993, carmax has become the target of used cars, synonymous with a dignified and painless buying experience. You might want to have carmax do an appraisal anyway because like instant cash offer you get a baseline market value for your vehicle.

Before you rely on carmax to deliver an unreliable tradein value, see. Kelley and edmunds are always high in their prices. I was also under the apprehension that there are two versions of the blue book, one for dealers and other industry insiders, and one for consumers. Both companies consider the following factors in their offersestimates. Unfortunately, the authentic sources those that list actual transaction prices arent available to the public.

This brand has been around for almost as long as the automobile so long that the term blue book value which harkens back to the color of kbbs original printed guides is now synonymous with any car pricing guide. Selling a car or truck is a question of time versus money. Kelley blue book new and used car price values, expert. So, we will examine what the kelley blue book instant cash offer is, compared to selling your car to carmax. My brother is asking for the heirs to let him sell it to his wife for the car max estimate.