Question: How Do I Find The Fair Market Value Of My Car??

To determine the fair market value of a vehicle, use a website like Edmunds or Kelley Blue Book.

Navigate to the main page, then click the tab or icon that says “Price My Car” or something similar.

Next, enter the year and model of your vehicle, the car’s mileage, and your zip code or city name.

What is Edmunds car value?

Edmunds True Market Value (TMV®) pricing is a powerful tool that helps you identify a good deal on a new or used car. Based on actual sales data, TMV is a guide to what other people in your area paid for the same car. Additionally, private-party buyers and sellers can use TMV to set the price of used cars.

Is Kelley Blue Book or Edmunds more accurate?

This can be helpful – or generate confusion – depending on how realistic you are about your car’s condition. Many experts believe Edmunds values are more accurate than KBB. NADA pricing is often higher than Kelley Blue Book since the algorithm has a standard that calls for all trade-ins to be in very clean condition.

What is the Blue Book value of my car?

The Kelley Blue Book® Private Party Value is the starting point for negotiation of a used-car sale between a private buyer and seller. This is an “as is” value that does not include any warranties. The final sales price depends on the car’s actual condition and local market factors.

What is the true market value of a car?

Edmunds True Market Value (TMV) pricing system helps you determine the average transaction price, or “what others are paying,” for new or used vehicles in your area so that you can begin your negotiations with a fair price in mind.

What is NADA value?

The NADA car values are updated every month in book and online form. Dealer NADA car values are different than the consumer car values they offer. Average Trade-In – This value is an average value for your vehicle, or what is close to what a dealer might offer you for your trade.

Where is Edmunds car lot?

Edmunds is headquartered in Santa Monica, California. Our website can help you buy a car in the United States through our large network of dealerships. These dealerships partner with us to list their inventory on our site.

What is the wholesale value of my car?

The wholesale value of a vehicle is the value that a dealer would pay to purchase it from a car manufacturer. In the case of trade-in vehicles, the wholesale price might also be the price a dealer would pay to purchase the vehicle from a dealer auction.

What is the Edmunds Price Promise?

“Price Promise offers a feel-good shopping experience that leads to a smoother process for both customers and salespeople at the dealership.” Edmunds.com’s Price PromiseSM tackles this issue head-on by offering an instant, locked-in price that the dealer will honor.

Do banks use Kelly Blue Book or NADA?

Knowing which value to use can often be confusing. Kelley Blue Book and Edmunds are two of the most well known used car pricing guides in the United States. There is also another: NADA—but, NADA is usually used by banks or car dealers to show you an inflated price value.

Do dealers use KBB or NADA?

In the most basic sense, Kelley places a large amount of emphasis on mileage, condition, features, and popularity, while NADA tends to focus on the vehicle’s wholesale price (i.e. what the dealer paid for the vehicle).

Why is Kelley Blue Book higher than Edmunds?

The Kelley Blue Book also gathers its data from a number of different sources. Unlike Edmunds, however, Kelley values generally cater more toward the dealer. For this reason, the Kelley value tends to be higher than the Edmunds value and also quite a bit higher than what a private seller would charge for a car.

Photo in the article by “Wikipedia” https://en.wikipedia.org/wiki/Honda_Civic_(first_generation)