Hey Scotty,
I’ve heard you mention this topic on a YouTube video, but is there an actual used car buying guide that is accurate and reliable? I have a 1996 Pontiac Firebird 3.8V6, 5spd Manual that I paid $5600 for in 2003. I would never sell it, it only has a little over 100,000 miles and all maintenance has been kept up, but I do check values from time to time. They are all over the map. NADA as it anywhere from $2500 to $7000!! Even the low end I have my doubts on but $7000!!! Come on man (sorry everyone, had to do it). I don’t even look at KBB anymore as they’re really only interested in finding a dealer to buy your car for pennies. The problem is, when you look in an auto trader mag or online, people price their cars based on these numbers and are insulted when you offer 25% of what they’re asking. There needs to be some completely independent source to get info from.
Thanks,
-Adam
Anything is worth whatever someone is willing to pay for it at the time. Books are not accurate.
I have a 2001 Mustang Cobra Convertible. 1 of 238 built in the particular color it is. Nada says $9k retail, KBB says $13k retail. But it doesn't matter because if someone is standing in front of you with $5000 cash, then that's what it is worth at the moment to the "market." Now, obviously I wouldn't sell for that, but that means I have to wait for the market to adjust and come up to the point where I'm comfortable selling the car IF I want to sell it.
Remember, the NADA prices are set by the National Auto Dealers Association. As a dealer myself, these numbers are meant to help me justify charging way too much retail for a car, or lowballing a very nice trade.
There are no dependable book values. You just have to know what you want to sell for and see if you can get it. If someone gets offended, who cares? 99% of people on this Planet have no clue what their stuff is really worth. If they think the offer is low, move on. Maybe the next guy will think you are dead on and make a deal.
