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Prices of commodities..... Posted by Mike Lynch [Email]  (#81) [Profile/Gallery]
(more from Mike Lynch) on Sat, 9 Jul 2005 13:07:33
In Reply to: MOST accurate used price giude...?, AzureBlue, Fri, 8 Jul 2005 17:26:37 Members do not see ads below this line. - Help Keep This Site Online - Signup |
Used cars are a regional commodity. Out West Kelley Blue Book is king, dunno' 'bout elswhere. There's the actual Kelley Blue Book with genuine wholesale and retail values, issued to or the "Karpower" software only availible to dealers. That's how we dealers communicate, "It books for $xxxx and I'm a buyer three grand back" or translated the car has a KBB wholesale value of $xxxx and I'll pay $xxxx less $3,000 because I'm getting a $3k rebate on new ones and the wholesale/retail figures are keyed to the orignal MSRP.
That's the commodity part, knowing the auction values, the strengths and weaknesses of various makes and model cars in relation to their book values.
For the general public there's KBB.com. In this heavily incentivized new car market, most actual trade in values or auction values are reflected by KBB.com, trade in value at "fair condition" if the car is really good or excellent, the fair condition describing the market more than the car. It's the rare make and model, with the right options and color, that will bring the "good" value.
So KBB talks out of both sides of their mouth so to speak. A vehicle may have an actual wholesale/retail Blue Book Value of $15/18k, KBB.com trade in value at fair or even good will be $2-3k less, than that at about $12k, and the KBB.com private party price in good condition may barely exceed the actual wholesale value or around $15.5k. Those are pretty typical #'s for many cars.
, Sat, 9 Jul 2005 13:07:33 <-- Viewing This Message
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