Jump to content
HybridZ

Difference Between NADA & Edmunds Used-Car Appraisal


Scottie-GNZ

Recommended Posts

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. smile.gif

JT

Link to comment
Share on other sites

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.

Link to comment
Share on other sites

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

Link to comment
Share on other sites

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.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...