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kbb/nada/edmunds prices are "guides"... Posted by Mike Lynch [Email] ![]() ![]() In Reply to: sold to carmax?, stu, Thu, 29 Jan 2009 16:32:10 Members do not see ads below this line. - Help Keep This Site Online - Signup |
Each vehicles, year, make, model, equipment and miles has a value in each of the guides. It's a used car buyers job to interpret that to the actual cash value. Geographically some regions use Kelley, some NADA, and I don't know any pro used car guys who use Edmunds.
Out west here say your Saab has a Wholesale Kelley Blue Book Value of $20,000, but similar cars have been selling at auction for $15,000, than it's the used car buyers job to know that Saabs are trading "$5,000 back" or $5,000 less than the book value. Some book values are high some are low some cars are worth all the money and some are very soft.
The sharp used car managers have online access to all the major national auction results like Manheim and this is their primary guide. Used car buyers like CarMax would much rather buy a car from a private party as it's delivered to the dealership, no auction fees or transportation charges, and is much easier to inspect. Auctions are loud frantic places with a lotta' razmataz, a feeding frenzy. So a used car guy might pay more than what the auction says for a desirable vehicle.
For Carmax, private used car sellers are a valuable resource, the right merchandise is more welcom from a private source than the auction or purchasing from another dealer.
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