How accurate is kbb.com if you want to know how much the trade-in value of your car is?

I wanted to know how much my 04 TSX was worth so I put the mileage of the car, which is 76,000 miles and the only option was navi. I got about $10K for the trade-in. Do you think dealers will give $10K or normally try to lowball you to $8500 or $9000?

If that is the case, I guess it would be better to sell the car to carmax or sell it privately.

 

Its always better to sell privately if you can....

 

i work for A car dealership and kbb is a good source. look at the good value and thats pretty close to what you will get

 

first thing to do is go to carmax and just get a quote. then you can go to different dealers and see what they offer. different dealers are going to offer different prices, well, obviously, but sometimes it can vary more than slightly. i don't know what your state laws are but in CA if you trade in your car there is a tax break on the transaction with the old and new car.

 

I've heard KBB is usually a little high.

 

I think NADA is a more widely-accepted standard among dealers.

 

Seems to be NADA for what your car is worth (lower) and KBB for what the used cars they are selling are worth (higher).

 

Dealers use KBB as a reference, but definitely NOT a source to calculate trade-in values.

BUT to the OP, the car is worth between $9k to $10k for wholesale trade-in value. The dealer will probably hit you between that price. If you squeeze you might get $10k for it providing the car is in exceptional condition and accident free.

Keep in mind that if you trade it in to a dealer and plan on getting another car from them, you can apply the trade as a savings in tax. You won't be able to do that if you sell privately but want to go to a dealer after to pick up another car.

 

Went to test drive a new car last week-asked them how much they would give me for my tsx. It is in great shape but with the mileage they offered $11,700 for it. Not buying a new car yet- love my tsx and especially no car payment.

 

Good tip: Negotiate the price of the new car and DO NOT mention a trade-in. Get something in writing. Then go home and come back the next day. Tell them you decided to trade in your old car and wanted to get a number on the trade. That way you really know what you're getting for both.

 

That's not true, definitely in NY that is not the case, where you are only taxed on the difference between what you are buying and what you are trading. If you bought the car right and get a good trade in value(plus a good deal on the car you are purchasing) it would be so close which was generating more money it's not worth the hassle or risk of potentially getting less money for it!

In NY and other states, essentially you can add the tax rate in your area to the trade in value - in my case it's 8% which makes privately selling the car not worth the hassle. If you are in a state that does not offer that tax incentive I would probably try for a few weeks to sell it privately, and if I had no luck I would still probably trade it in, selling a car is a PITA most of the time.

 

This way they can't manipulate the price, interest rate, trade-in value in their best interest.

 

I car-shopped for 1 month last month when I sold my 2005 TL and purchased 2010 Mazdaspeed3.

My car's kbb trade-in value (good) was $12K.

I went to Shermen Oaks Honda when I was looking at Civic Si sedan. They offered $6K for my TL. I got out as soon as they said it. They grabbed me. I laughed a bit and got out without looking back. Don't even negotiate with those type of dealers that just low-ball you. They are fking punks trying to rip you off.

I went to Glendale Mazda. They offered me $11,800 after I negotiated for like 2-3 hours. They offered me the new MS3 at invoice + $500. I bought it.

So, I guess just shop around more til you get the kbb value.

 

When I sold cars, I'd show KBB trade - in price and use NADA to show how much my car is worth...Also, banks use NADA when appraising a loan value.

I usually gave right around "good" on KBB, depending on condition of course....needs to be accident free, in good shape.

 

dealers in pa seem to always show you manheim prices. They are always 1-4k lower than trade in.

 

They actually show you the website? Ask them to show it to you on the car they're selling then.

That's not supposed to be information for the consumer.

 

on many occassions they have shown me the website and printouts of similar cars. These were all kinds of dealers that i had been too.

 

That is screwed up...I'll have to watch for this when it comes time to trade in the TL...isn't that auction also open to the public? I remember hearing Ad on TV for it a long time ago.

 

Im actually a Toyota new car salesman for 6 years.

I understand that everyone wont a great deal...

Ill help....

First..Find the car that YOU WOULD OWN...why ask for numbers if you have no intentions on buying it..waste my time?

Second...Where i work..even if you have a trade, we keep it separate from the actual car your buying. So theres no confusion on what your getting for either one.

Third..IT'S A JOB!!!!hahaha...I am going to try to make money off you. You have got to be the smart one and ask QUESTIONS...I CANT READ YOUR MIND...lol

Good Day..Sorry for all that. its a stressful job..

 

I do think it's practical to realize that the dealership is in it to make money and I would never expect to walk out with the deal of a lifetime, but I find it shameful how some dealers will take the unsuspecting victim (usually women and young first time car buyers) for all they can. I also hate how some dealers can work people over in the box. I will always bring a calculator and a notepad to record what was agreed upon before finance gets involved. Either that or only negotiate on final price (not monthly payment, which is a sales strategy that sadly works on many people) and bring my own financing. It also helps to know the dealers invoice, what other dealers are selling the car for, and what factory incentives are being offered. You can make a good deal without walking out (which is necessary some times) if you know how to play the game and are aware of the games they will play...things as simple as leaving you wait too long in the showroom in order to make you more eager to close the deal...

 

Your the exact reason I could not sell cars, you dont give a crap about anything but the numbers your putting on your paycheck.

A car is the 2nd most expensive purchase people will make, take that into consideration

 

I think KBB's and Edmunds' trade values are a waste of time other than for your entertainment. I use Galves.com whenever I have to make a trade. This seems to reflect what dealers/auctions are actually paying for your car. You pay a small amount for the service, but it has been on the dot as far as trade value for my last three trades.

I trade my cars because a) in Ohio there is a tax incentive to do so as noted above for another state and b) 12-hour workdays don't give me time for selling on my own.

 

 

Awe that's not true at all. I'm actuay a very fair person And rely 85% on referral. I'm just giving the facts.

It just happens to be my job of 6 years. I also understand that it a big investment. So people spend more on there cell phones for there family then a car note. Even insurance. House, boat, RV. So on. Credit cards. To each is his own. I like to pay cash personally.

 

It does actually depend on where you live also. Down here they use Kelly bluebook, but my wife and I were in Idaho few months ago. We bought a car there and they used NADA

 

Really?
Sometimes it seems like they're high. Other times I'm like .


For example.
Just a couple days ago, I went on to KBB just out a curiosity to see what it said my car was worth. I have an 06 TSX Auto (no navi) with 64K. It said high 15's to low 16's. I thought that was reasonable.

Reason I was looking, is I was just ever so slightly hoping I could maybe find a good deal out there on an 06 6-speed TSX. I love the TSX so much. I just wish it was a 6-speed. Some of the 06's even though were being listed for 22-24ish. Some didn't even have super low miles either. And not all of them were 6-speeds.

Granted, some of them were at dealerships, but . Not all were. Makes me wonder.

 

I also became curious-thanks to you- The value on my tsx is high 9's to 12's trade-in. private sales 12's to 15's. It is an 06 6MT with nav. Has 93,000+ miles.

 

Maybe I'm doing it wrong, but I average NADA, bluebook and edmunds together to get a bigger picture. KBB is almost always the highest. I think they don't update their info often enough or something.