al4t1gbundy

And how is that so?

I was questioning why people are asking for such a big amount over KBB. Yes I know that the asking price would not matter, but sellers with common sense will know that it's harder to sell something at such an inflated price.

I noted I am looking for a DD beater. IN other words accords, civics, camry's the wazoo. Not exactly rare and not exactly hard to duplicate in color/trim/etc. So the fact that KBB does not accurately price rare cars such as the NSX is null on my situation.

So my question again was that why was literally everyone on craiglist listing their cars for sale at a good amount above KBB? I never bought a used car even at KBB and I do not think anybody does. Making room for negotiation is one thing, but jacking it so high that it is not even attractive is ridiculous.

So where is my common sense wrong? I have an idea of how KBB works and what it represents; but it does not represent a bottom scale. Your car appraised in "excellent" condition is what you should use to dictate your asking price at "excellent" even though there is hardly such things as an excellent condition accord or civic.

I surely hope you dont buy your car above KBB ....

Poindexter

The market dictates the price - not KBB, Edmunds, Black Book, NADA or any of the other "GUIDES" out there. These guides should be tracking market prices, but too often it seems they're behind the market. So, take them for what they are: guides.

Chris S

The OP is suggested that the tail wag the dog, but it doesn't work that way.

TheDonEffect

flexer

KBB is garbage. Use what the banks and everyone else in the industry uses. NADA.

There is a reason banks trust it to base there loan value's on.

J. R.

bankstreet

[QUOTE=al4t1gbundy,Sep 7 2008, 09:43 PM]I was questioning why people are asking for such a big amount over KBB.

I noted I am looking for a DD beater.

sahtt

Because it's inaccurate and people ask a huge range of prices. Look up a price for a 2002 S2000 with 101k miles, then 160k. 160k miles s2000's are almost worthless, there is a very small market for them, but does KBB demonstrate this? Of course not. Dealers ask 9k for a car they purchased for 5k and plan on selling for 6k. So when you buy it for 8000 and think you got a good deal you are clueless. Was a car salesmen in high school and ran a small business buying/selling cars/motorcycles for 5 years.

KBB is almost pointless. Figure out what people are asking for a similar car, you can do it by emailing them and asking "what's your best price" or just paying attention craigslist. CL is unique in that you can see as people lower their price. Just remember this, you should NEVER pay more then any listed price ANYWHERE for a similar vehicle. People do it everyday. I don't buy anything unless it's 7-15% or so lower then any listed price anywhere.

The car market in general is in shambles and credit is extremely tight. The only exception is economy cars because poor people driving shitty trucks or suburbans have to buy used economy cars these days, propping up the market substantially.

al4t1gbundy

You know I have to point this out as well. I appraised my car currently at 23,7xx on KBB but I got a 25xxx on Nada and Edmunds.

I was really confused there becuase it has always been that kBB was the inflated one ...

Now would any of you purchase an 06 s2k stock w/ avg miles at 25k? I don't think so.

Oh well

And Sahtt I know how it works thats why when I go with my friends to buy new cars, they never pay msrp, but rather a little over invoice.

Used cars are different however because they vary so much ...

/shrug

yellow2001

like all price guilds. kbb is a guild. real prices are what people are paying for it.