Nada Used Car Prices, Edmunds Used Car Prices, And Kelly Blue Book Used Car Prices Whose Prices Are Right?
The Internet has been touted as the greatest resource for the used car buyer. Prospective buyers can find trade-in, private party, and retail values in a heartbeat. The question to consider, however, is what Internet source is right? The three major sites: NADA, Edmunds, and Kelly Blue Book are clamoring to be the Trusted Authority on used car values. Yet price discrepancies are frequently in the $1000s from site to site. Which web site, if any, is the most accurate source for the used car buyer?
To illustrate the discrepancies, heres an everyday example: NADA may retail a 2003 SAAB 9-5 Linear at $15,996, Kelly Blue Book prices it at $17,456, and Edmunds prices it at $14,800. These are all retail values, assuming excellent or clean condition. $17,456 minus $14,800 is a $2,656 difference. Thats a huge price difference in the highly competitive used car market.
The retail values placed on many vehicles by these web sites can have even larger price differences – some as high as $4000 to $8000 dollars. These gigantic price fluctuations can leave a...
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