Scottie-GNZ Posted January 21, 2003 Share Posted January 21, 2003 Does anyone know the differences between how NADA and Edmunds appraises the value of a used car? I am looking to buy a another daily driver/parts hauler and the NADA appraised value is DOUBLE that of Edmunds. Quote Link to comment Share on other sites More sharing options...
Jeff Posted January 21, 2003 Share Posted January 21, 2003 I'm not sure what the difference is but you might check out Kelly Blue Book for another reference point. KBB and Edmunds are usually pretty close to one another. Quote Link to comment Share on other sites More sharing options...
J Taylor Posted January 21, 2003 Share Posted January 21, 2003 I dunno if this helps you or not but when my 95 Nissan pickup was wrecked, Alfa(the other guy's insurance) went by NADA. My Insurance(progressive) also uses NADA to determine how much a car is worth. If I was going o buy a car I would pick the cheapest to print out and take with me though. JT Quote Link to comment Share on other sites More sharing options...
Mike C Posted January 21, 2003 Share Posted January 21, 2003 IME, NADA is what a dealer can/will attempt to get for a car, while Kelly and Edmunds are more likely what an individual would get. Quote Link to comment Share on other sites More sharing options...
Scottie-GNZ Posted January 21, 2003 Author Share Posted January 21, 2003 There must be an error on Edmunds for one of the vehicles I am interested in. Here is how the 3 appraisals came out. NADA - $5395 (avg retail), KBB - $4800 (good condition) and Edmunds - $2670?? (clean). Another vehicle I am interested in shakes out as follows: $9200, $6800 and $7035 respectively. For the 1st vehicle, somewhere between KBB and NADA seems to be what the vehicle typically retails for. Quote Link to comment Share on other sites More sharing options...
DavyZ Posted January 22, 2003 Share Posted January 22, 2003 Scottie, the difference may be that NADA (Nat'l Automobile Dealer's Assoc) is looking at wholesale value perhaps? Maybe more in-line with KBB low (wholesale) blue book numbers. I worked in automobile sales and I have to say that KBB is MOSTLY what we used, not to mention all the banks and finance companies as well. NADA was another reference, and then we had "the black book" which was a weekly or bi-weekly update on nearly "up to the minute" auction values. Rule of thumb: make sure you are comparing apples to apples (retail to retail) and wholesale to wholesale. The "retail price guide" is what the car should list for, but that is not necessarily the selling price of the car. Most selling prices are between retail and wholesale values. Davy Quote Link to comment Share on other sites More sharing options...
Guest Thurem Posted January 22, 2003 Share Posted January 22, 2003 Edmunds is for when you're buying a car, NADA is for when you sell your car. Real simple, buy cheap sell expensive. Thure Quote Link to comment Share on other sites More sharing options...
Sumo Posted January 22, 2003 Share Posted January 22, 2003 Im with Davy, if you want to know the real value ask the dealer for the "black book" value of the vehicle you want. KBB, NADA, Edmunds are used only for vauge references, insurance companies and by banks. A friend of mine wrecked his Honda Accord and the insurance gave him the low ball figure on KBB. We told them that even from a private seller from the news papers you couldnt get an Accord that cheap. "Real world" values from the newspapers were taken and three separate but identical estimates(except mileage give or take a couple of thousand miles) from dealers and we got a couple of grand more. In some cases you just need to use whatever gives you the advantage. Quote Link to comment Share on other sites More sharing options...
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