What's the consensus on Kelly Blue Book values?

her209

No Lifer
Oct 11, 2000
56,336
11
0
I'm looking for a new used car and the guy is asking $4000 over what the KBB value says it is. The car is a 2006 with 136k miles. I know, high mileage and all that. KBB puts the value for private party at about $10k for good condition.

Are KBB value generally considered undervalued or overvalue? In other words, do people normally pay more or less than what KBB says?
 

woodie1

Diamond Member
Mar 7, 2000
5,947
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I've always thought KBB prices were high. Dealers like to use KBB to inflate their prices.
 

Doppel

Lifer
Feb 5, 2011
13,306
3
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Completely useless. I often see cars for, say, 12k and KBB says $16k. I don't think I regularly see it in the other direction, though, but all that really matters is what the market thinks the car is worth. KBB is really completely irrelevant, it's not even close in most cases.
 

Bignate603

Lifer
Sep 5, 2000
13,897
1
0
I'm looking for a new used car and the guy is asking $4000 over what the KBB value says it is. The car is a 2006 with 136k miles. I know, high mileage and all that. KBB puts the value for private party at about $10k for good condition.

Are KBB value generally considered undervalued or overvalue? In other words, do people normally pay more or less than what KBB says?

KBB value for newer cars tends to be high. $4k over KBB sounds insane.

On the other hand, I think that the KBB value for much older cars (10+ years) can sometimes be low if the car was very well maintained.
 

Vette73

Lifer
Jul 5, 2000
21,503
9
0
Do you mean Retail? or Private party?

Whats the car and his price?

I am selling my 01 Corvette and I have it for 17k with KBB Retail 22 and private party at 20k. But I can;t think of any car that should go HIGHER than KBB retail.
 

MagnusTheBrewer

IN MEMORIAM
Jun 19, 2004
24,122
1,594
126
KBB value for newer cars tends to be high. $4k over KBB sounds insane.

On the other hand, I think that the KBB value for much older cars (10+ years) can sometimes be low if the car was very well maintained.

+1
Blue book is high except for older cars.
 

Arkaign

Lifer
Oct 27, 2006
20,736
1,379
126
The guy is insane. $4k, or 40% higher than KBB, for a 6 year old ('06s mfg/sold mostly in '05) car with 136k miles? Tell him to stuff it up his ass.
 

Doppel

Lifer
Feb 5, 2011
13,306
3
0
The guy is insane. $4k, or 40% higher than KBB, for a 6 year old ('06s mfg/sold mostly in '05) car with 136k miles? Tell him to stuff it up his ass.
Like Canadian royalty (South Park this past week!).
 

exar333

Diamond Member
Feb 7, 2004
8,518
8
91
It's a guideline. Check nada too.

$4,000 over blue book is just silly to pay.

This. KBB/Nada/etc are all guides for a price ballpark. The KBB retail prices are usually pretty accurate for cars that are well-maintained (not immaculate). Paying 4k over KBB would be VERY high and there would need to be a concrete reason (to me) to pay this price like getting some custom work included with the car that actually adds value.
 

alkemyst

No Lifer
Feb 13, 2001
83,769
19
81
There is actually a website that is pretty accurate...I forget the name of it. It requires a paid subscription, but they have as low as a single day one.

It shows what cars are selling for and what people are paying for them in a more 'real time' scenario.

KBB and NADA can be very accurate at times...and also not even in the ballpark.

On older sports cars is where it's usually way off. Esp older Porsches and the like.
 

kornphlake

Golden Member
Dec 30, 2003
1,567
9
81
KBB is a reference point but ultimately not very useful since emotions are typically brought to the bargaining table. I've always "felt" KBB was low when selling a vehicle and I have always "felt" KBB was high when buying a vehicle.
 

JimW1949

Senior member
Mar 22, 2011
244
0
0
I have always found KBB to be reasonably OK with their prices. As has been mentioned they do tend to be a bit high on newer vehicles though. But the point is, to pay MORE than what KBB says is not a good idea. If anything, you should be paying less, and in this case, quite a bit less. If the seller thinks the vehicle is worth that much money, he should keep it.
 

Vette73

Lifer
Jul 5, 2000
21,503
9
0
Car is a Toyota Tacoma 4x4. I said it was a 2006 in the OP, but looking again its a 2005.


Ha you are seeing the same thing I am. Trucks made around 05 and up are still holding there value as those are mostly the current bodys that have the updated cabs and engines for most part.

I sold my old Mazda Ranager so once we sell the Corvette we will get a new to us truck. The Tacoma is on my list as are the Canyon, Colorado, Dakota, Frontier, and T100. All of them seem to hold their value well. The full size I can get cheaper but my wife and in-laws may drive it so mid-size is the biggest we want.