Is KBB used car value estimation BS?

[Pacfanweb]

You're right....dealers use the Black Book, a dealer only publication, updated weekly via latest auction sale prices.

If you can ever get someone to take you to a "real" dealer auction, like Mannheim auctions, you'd be very surprised how cheaply vehicles get sold for.....opened my eyes.

Yep, can't tell you how many people I've seen come into dealerships with a printout from NADA or KBB, thinking they'd get "average" book price for a trade. I tell them, Look at "rough" and then subtract some from that. They aren't going to give you more than what they could buy the same car at the auction for.

 

[ElFenix]

Well, consider the millions of used cars that were removed from the market during the Cash for Clunkers program. Millions of older vehicles which would now be typically in the lower price range now removed from the market. End result is higher than usual prices for the remaining vehicles. It's been estimated it'll take until 2023 or thereabouts for the market to get back to "normal."

690,144. not millions.

The Full List Of Every Cash For Clunkers Trade-In

No "old-school" media outlet bothered providing readers the full list of every car traded-in under the Cash For Clunkers program because it might be too unwieldy. We know Jalopnik readers demand more. Below, the list of all 690,114 trade-ins.

jalopnik.com

 

[Meghan54]

690,144. not millions.

The Full List Of Every Cash For Clunkers Trade-In

No "old-school" media outlet bothered providing readers the full list of every car traded-in under the Cash For Clunkers program because it might be too unwieldy. We know Jalopnik readers demand more. Below, the list of all 690,114 trade-ins.

jalopnik.com

Yeah, that was a bit of hyperbole. But removing almost 3/4 of a million vehicles, most of which would have been the alternatives for the less financially fortunate, has certainly had an impact on used vehicle pricing. Couldn't do anything else. Simple supply and demand.

 

[Pacfanweb]

Yeah, that was a bit of hyperbole. But removing almost 3/4 of a million vehicles, most of which would have been the alternatives for the less financially fortunate, has certainly had an impact on used vehicle pricing. Couldn't do anything else. Simple supply and demand.

There's no doubt. Some very good used cars were junked in the program.

I said at the time that this was going to really hurt the folks looking to buy a decent used car for their kid to get through college in the next few years.

 

[killster1]

Yep, can't tell you how many people I've seen come into dealerships with a printout from NADA or KBB, thinking they'd get "average" book price for a trade. I tell them, Look at "rough" and then subtract some from that. They aren't going to give you more than what they could buy the same car at the auction for.

cant tell you how many people i hear go do a trade in and take 500$ for their car with 20,000 miles, im waiting to write off a few cars for donation soon as i see good offers open up again. (think i saw 1000$ for clunkers before) wonder if i can put 4 flat tires on it before i have them tow it hehe.