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In buying my Red Rock MDX, I have to sell either my BMW or Camry. I am doing the Camry on my own. In assessing the dealer trade in, I found dealer was only willing to buy either car at 30 - 40 % below Edmunds.com's TMV (True Market Value) used car estimate. My personal experience is by no means scientific but I can't help but feeling cheated since Edmunds was supposed to be good, accurate and so forth.

What is your personal experience? Or did you find Edmunds' user car pricing a joke?!

:confused:
 

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No, I think that Edmunds and Kelly Blue Book offer good estimates of the true worth of used cars. In my experience, it has been the dealers who start with ridiculously low offers in the hopes that by coming up to a reasonable trade-in value they somehow make you feel like they're doing you a big favor.
 

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I would trust the dealer least. Like iceman said, they are notorious for lowballing.
I find edmunds to be pretty accurate, while KBB a bit high. I just sold my Civic for exactly what Edmunds suggested. I tried getting more, but coudn't. 6-7 offers came in at exactly what they quoted.
I actually know the guy who came up with TMV for Edmunds. He tells me that they base their estimates on actual transaction, while KBB uses the starting bid of the dealer. . .for example a dealer will ask for 10,000 but actually sell at 8k. KBB lists 10k, while edmunds lists 8k.
If you want the best deal, sell yourself.
Another point of reference is halfway between KBB trade in and retail is good.
 

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They are a good judge

Last spring in preparation of getting the MDX we sold our 99 CRV EX and a 97 Mazda Protege private party through the local newspapers. I used the numbers from Edmunds and KBB and I set my asking price at the high end of their quotes and came down from there. It took about a month to move the CRV mainly because of it's value (upwards of 17k, and 17k in a private transaction is a lot) and it was a 5 speed. The Mazda sold the first day it was in the paper. At the time we had 4 cars and 3 drivers so we didn’t have to worry about trying to time the selling of these cars with the delivery of the MDX. I also had clear titles to these cars, which makes it easier to move them. I sold the CRV in advance of the MDX’s arrival and sold the Mazda after the MDX came.

Good luck.
:)
 

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KBB vs Edmunds vs NADA

I recently sold our Ford Explorer and found KBB private party values to be high, but using an average between trade-in and private party might be a better representation. I think Edmunds and NADA are a little closer to reality.
 

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Discussion Starter #6
Re: KBB vs Edmunds vs NADA

jmk said:
I recently sold our Ford Explorer and found KBB private party values to be high, but using an average between trade-in and private party might be a better representation. I think Edmunds and NADA are a little closer to reality.
You guys are lucky. On my BWM 325i 1992, I got quote from several wholesellers that the dealers brought in. And the best offers I got was 60% of the Edmunds. My salesman was shocked himself. Anyway, I got laughed on trusting the Edmunds.com number but again this probably is one of the selling tricks dealers use. I am sure they would have sold my car at twice of the price on their lot when this is their deal. :mad:
 

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Traded in my 93 Lexus GS300 at Kelley Blue Book.....right on the money.....to CarMax.....not to my not-so-friendly Acura dealer (used car dept) who priced it at, get this, $3000 UNDER KBB.

I was not impressed with THAT aspect of Goodson Acura.
 

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When I originally thought I was going to trade-in my Jeep, and printed out both Edmunds and Kelley Blue Book. BKK had higher prices. (10K vs 11K) The dealer offered to give me the KBB price.
 
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