Private party used car appraisals

[Uncle Leo]

I'm selling a car to a private party. I looked up it's value on both KBB and Edmunds. The difference is vast. KBB comes in at $2200 and Edmunds comes in at $1000. Same options, same condition, obviously the same car.

 

Is one considered to be more reliable or accurate than the other?

[Chris in OK]

If it were me, I'd price the car somewhere in between KBB private party value and Edmunds' figure.

[MarvBear]

that is not a vast difference. Since those are regional publications there should be some variance.

 

5k+ would be a vast difference.

[Uncle Leo]

that is not a vast difference. Since those are regional publications there should be some variance.

 

5k+ would be a vast difference.

 

I was thinking more in terms of percentage when I said "vast difference". I thought one being more than 100% more than the other was "vast", though I see your point also.

 

Anyway, as far as regional differences, they both asked for my zip code, so I presumed they both took that into account. They both started at roughly the same base price. KBB just gave a final value. Edmunds broke it down into more details for adding and subtracting. My zip code actually gave a an extra $55 credit, but what really dinged me was the miles... 197,000+... I dropped $831 for that alone. Still, I put the same number of miles in for both.

[MarvBear]

REGIONALLY we are more prone to evaluate a vehicle for financing purposes in the southeastern US by using NADA, regardless of a consumer zip code.

 

Different sections of the country express preferences for different publications for establishing values.

 

Consumers can use whatever they wish, which may or may not coincide with what the actual market uses.

[Guest Bree82]

that is not a vast difference. Since those are regional publications there should be some variance.

 

5k+ would be a vast difference.

 

I was thinking more in terms of percentage when I said "vast difference". I thought one being more than 100% more than the other was "vast", though I see your point also.

 

Anyway, as far as regional differences, they both asked for my zip code, so I presumed they both took that into account. They both started at roughly the same base price. KBB just gave a final value. Edmunds broke it down into more details for adding and subtracting. My zip code actually gave a an extra $55 credit, but what really dinged me was the miles... 197,000+... I dropped $831 for that alone. Still, I put the same number of miles in for both.

I thought KBB was pretty much if you have 100k or 200k miles its priced the same... seems Edmonds took into account the actual miles. (I may be wrong)