How to use Kelly blue book?

[desura]

Looking at a listing on cargurus the car looked like a good deal at 13k, which cargurus said was 1k discount. Kbb says that the car is worth 13k. My friend says that I should ask for 1k below the kbb price, 12k.

Which is accurate? What's the point of kbb if prices are regularly negotiated below it? I.e. Market prices should be accurate.

 

[NutBucket]

BS. Always list high so you can negotiate down.

Unless you have a POS

EDIT: I see you are buying. The list price is just the starting point of the negotiation. The final price is whatever you and the seller agree on. KBB is simply a guide and market prices are what matter (and how desperate the seller is)

 

[jlee]

KBB (and other market value sources) are notoriously unreliable for niche market cars, and otherwise serve more as a general guideline than anything else. Your local market will have more influence on the actual value than the book price, IMO.

 

[slag]

KBB (and other market value sources) are notoriously unreliable for niche market cars, and otherwise serve more as a general guideline than anything else. Your local market will have more influence on the actual value than the book price, IMO.

Agree with this.

KBB and NADA are just guides to an estimated value of the vehicle. Ultimately, its going to be seller discretion as to what they want for the vehicle, but it helps to arm yourself with printed material if they are obstinate.