Selling my used car... just use KBB for asking price?

[Zeze]

What is the general rule of thumb- ask for slightly over or under KBB?

Mazda 6i 2003, 105k miles, stick, well kept, good condition (few small dents), still looks modern (if that matters)

Any other channels besides Craigslist (which has great for in-person cash selling).

 

[Zeze]

zzzzz

 

[Vdubchaos]

KBB is not really a good indicator.

Look at the same year/model/year/options and see what's on the market and for how much.

That's the best indicator.

Remember, your time is money too.....

 

[SpatiallyAware]

IMO kbb/nada is a terrible indicator. 10 years ago it was pretty close, but nowadays it's almost useless.

I suggest looking on autotrader to get an idea of a range. Price it near the top as OBO, then lower it 5% or so per week.

 

[axium]

Kbb doesn't buy cars. People and dealers do. It it's an ok starting point, but be prepared to negotiate.

Also, I have NEVER, in my entire life, met a person who properly followed the steps kbb posts to asses their vehicles value.

 

[SpatiallyAware]

And I won't sell anything of value on craigslist. I have had great luck with autotrader, both buying and selling.

How much do you want? We have a cars for sale thread here, and that's a somewhat desirable combo for a car enthusiast.

 

[amdhunter]

What's the book value?

 

[Doppel]

KBB is worthless. All that matters is local market value.

Craigslist has the human race's trash. I would post the car on it because it is free but otherwise use autotrader and cars.com like professional dealers do.

 

[tweakmonkey]

I bet kbb is actually pretty close to what you'll get for it. It depends on your area and how rare a car is though.

Still, it's best to punch a couple searches into Craigslist and see what similar mileage cars are selling for. Correct if your condition is better/worse.

 

[Gillbot]

Craigslist, used lots and Autotrader type sites will give you a better idea for your area. KBB and other "book" values are completely useless.

 

[Mermaidman]

KBB is high compared to other free services, like Edmunds, so it will be a good place to start negotiations as a seller.

Completed listings on eBay can also give you an idea of what sold for how much, what attracted bidders and what didn't sell.

 

[mvbighead]

Check around, and gauge. But KBB is not the one stop figure anymore (if it was ever).

As for CL, I use it, and you have to know there are people like you out there, and there are scum of the earth. You can be direct and not give 2 licks about someone haggling with you, just move on to the next guy.

I've sold all different sorts of things there, including a $10,500 car. Meet at a bank, do it right, and you'll have a good experience. Just sift through the BSers, it really isn't that hard to do.

 

[NutBucket]

I'll give you $3k

 

[railer]

zzzzz

You can use KBB to start, sure. Just be prepared to come down...probably way down.

For example, guy from work just traded in his F150. KBB private party value in fair condition said $7100. I laughed at him when he told me that....it's a '98. But anyway, the dealer offered him $2500 in trade, which he thought was the biggest scam going.
But the truth is, that's the low range of what that YMM vehicle goes for at auction, so that's what the dealer is willing to pay, since the dealer will take most vehicles directly to auction, and that's what the market will bear. The particular truck may be worth $4k in the PP market....nowhere near the KBB private party price.

Just be prepared to come down and you'll make out OK.

 

[Midwayman]

When I sold my last car, I didn't get any calls until it was listed really close to edumund's private party price. Think where your customers are going for price info. They'll expect you to be close unless you stand out somehow.

 

[Ketchup]

KBB is very important to dealers and insurance companies when they tell you what they will "give" you for you car. But, as others have said, ads that you can find will be the best indicator for what you can get selling it yourself.

When we were thinking about selling our Mazda, local sellers were selling them for about $1k more than what KBB said it was worth.