How accurate is KBB

[steppinthrax]

I just bought a 1999 Toyota Camry yesturday (30,000 miles). I put all information in KBB exactly and KBB seems to be saying I paid about 100 more then I should.

How accurate is this information?

 

[Gillbot]

The KBB is a guide, obviously they can't get an exact price on every car. Market determines pricing, not a book.

 

[Pacfanweb]

From my experience with it, KBB is usually too high, so if it said I paid too much I wouldn't be happy.

But yes, no guide is perfect. Try NADA.

 

[steppinthrax]

Originally posted by: Pacfanweb
From my experience with it, KBB is usually too high, so if it said I paid too much I wouldn't be happy.

But yes, no guide is perfect. Try NADA.

Well that has been the genearl price range for this type of car Toyota Camry 99 and 30K. Good year and very low mileage. On ebay, Craigslist and cars.com they were asking around that much.

 

[Demon-Xanth]

It's as accurate as you're going to get as a market generalization. There is way too many factors to say "it's worth exactly this much" for every individual car.

 

[overst33r]

Try Edmunds True Value

 

[Pacfanweb]

Originally posted by: steppinthrax

Originally posted by: Pacfanweb
From my experience with it, KBB is usually too high, so if it said I paid too much I wouldn't be happy.

But yes, no guide is perfect. Try NADA.

Well that has been the genearl price range for this type of car Toyota Camry 99 and 30K. Good year and very low mileage. On ebay, Craigslist and cars.com they were asking around that much.

Asking and Getting are entirely different.

I can ASK whatever I want for my car. I might not get that, though. I would never pay anyone's asking price without trying to negotiate it down, even if it was a great deal.

 

[Riverhound777]

Not sure if it is accurate. Says my 06 mazda 3 with 31k miles is worth $16.5k. I paid 17.8 new a year and a half ago(19.x OTD). If it is, yay for me, I only owe 12k on it.

 

[woodie1]

I don't think KBB is worth the time. Edmunds seems better and I use Autotrader.com to check out the asking prices in the area.

 

[steppinthrax]

Originally posted by: Pacfanweb

Originally posted by: steppinthrax

Originally posted by: Pacfanweb
From my experience with it, KBB is usually too high, so if it said I paid too much I wouldn't be happy.

But yes, no guide is perfect. Try NADA.

Well that has been the genearl price range for this type of car Toyota Camry 99 and 30K. Good year and very low mileage. On ebay, Craigslist and cars.com they were asking around that much.

Asking and Getting are entirely different.

I can ASK whatever I want for my car. I might not get that, though. I would never pay anyone's asking price without trying to negotiate it down, even if it was a great deal.

I actually checked my same model/year/mileage with cars.com craigslist etc... It seems people were asking between 1 to 3K more then what I paid. Especially on Ebay when people were bidding on this.

 

[Skotty]

Buyers use Edmunds because it seems to run low. Sellers use KBB or NADA which seem to be pretty close to each other in valuations. Not sure why Edmunds tends to run so much lower than KBB and NADA. They claim "True Market Value" but then provide no easy to find links to explain what they mean by "True Market Value". If anyone can find a link on Edmunds to explain what "True Market Value" means, post it please.

 

[compuwiz1]

KBB is the defacto standard for dealerships and lenders in Ca. Certain model vehicles are not worth book. Just ask any dealer who paid wholesale KBB, then has the vehicle in stock for 4 months, having tried repeatedly to retail it, as well as get his money back thru the auction, as he frustratingly watches similar vehicles sell for $3000 less at auction. Maybe that will help some understand TMV (true market value).

A classic example is large domestic SUV's. The new ones are not moving well, so the used one are worth less....some as much as $5000 below book.

 

[evident]

kbb gives a lowball value imo