Do you all trust Kelly Blue Book Ranges

[6S1284]

I am about to move up from my 2008 Expy Eddie Bauer EL to a 2020 Max. The dealers are offering me crap for trade-in and my Expy has been garage kept and has 94K with heavy options. No issues other than slight corrosion as bottom of rear hatch where they all do.

KBB says private party 9600 - 12400. Should I ask near the top of the range?

I have not sold a vehicle privately in 20 years.

Thanks

 

[Aspen03]

Selling private is considerably different than a trade. I'd ask as high as you feel comfortable. Remember someone is ALWAYS going to negotiate so leave yourself some room. It doesn't really matter if YOU believe in it, the masses do so its accepted as one of the standards and what people will refer to during negotiation as well as condition and maintenance records.

The how fast you need/want it gone comes into play a bit. Generally when I've sold cars in the past I didn't need the $ to bring another home or already had the replacement and could be picky.

 

[bloodhound]

Around here in the northeast it would probably sell for about 10 grand.

 

[2020-MAX-Limited]

Try CarMax ... in my one experience, they offered $25K when dealer offered $22K (not on a Ford)

 

[Trainmaster]

I agree with The Hound. In the northeast, about $10K. Your market area has everything to do with the price. Here in Metropolitan New York, the entire world is leasing new cars. Nobody has $500 in the bank, but they all drive new BMWs.

What I'm saying is that in some places, especially where rents and taxes are high, nobody buys anything. It's all about the experience. So they lease with no money down and roll over the lease costs until they are in a Kia at $800/month. When they loose a job or have a kid they walk away from their debts.

If you're in a part of Real America, where people still value assets and understand value and money, you'll sell a clean Expedition quickly. Remember that you can sell anything in a day at the right price. If it's not selling, it's too expensive.

 

[B-McD]

If selling on your own, be prepared that out of 10 calls you get, 8 will be local wholesalers looking to lowball you for a quick transaction. Carmax is easy but they will typically offer you the KBB wholesale price. But you're out of there in less than an hour with a check. When I was in for my oil change I chatted with my sales rep and he said the used guys are killing it right now. Get the estimate from Carmax first and then anything you can get above that is gravy. Good luck!

 

[ManUpOrShutUp]

Every dealer I've been to for the last 12 years has used NADA vs Kelly, so I would be looking at NADA in order to better determine what the real market value is. Know that if you trade it in vs selling it privately, you're going to take a massive hit. Many dealers aim to make 30%+ when they flip the trade-in.

Here in Metropolitan New York, the entire world is leasing new cars. Nobody has $500 in the bank, but they all drive new BMWs.

This is commonplace all over the country, but primarily in urban/suburban areas where everyone is trying to keep up with the Joneses.

 

[Aspen03]

It kills me how so many people have car payments that are equal or greater to their mortgage. I have a friend, for as long as he's owned a vehicle has spent more on it per month than a place to live. Its even worse now married, they have 2 car payments.

I'm like guy you could pay your house off in 10 years instead by driving a sensible cash vehicle and then the rest of your life w the huge piles of interest you've saved buy almost any car you want and have a stash in the bank and eventually get to the point you just write a check for a new vehicle if you choose.

OP, too bad you're selling now, I'll be looking for an EL come spring and that's right about what I'm after age/miles. Need to wrap up an old project vehicle of mine and get it sold along with my saltwater tank before I make as large a purchase. Were moving in the next year or so and trying to downsize a few things.

 

[6S1284]

I really appreciate everyone's input. It has helped me.

 

[max78]

I hate KBB, their prices are wildly inaccurate in almost all of my vehicle purchases.

I would shy away from selling to a dealer because private party will always net you more, however it can be more of a hassle.

Always list the price about 10% more than you want to get out of it, everyone wants a deal. Spending $200 or $300 on a really good detailing job and great pictures will sell it light years faster than poor pictures and a semi clean vehicle.

 

[ManUpOrShutUp]

Spending $200 or $300 on a really good detailing job and great pictures will sell it light years faster than poor pictures and a semi clean vehicle.

+1. My wife and I detailed my last SUV ourselves, but it's the same concept (I'm just a cheap ass and wanted to save the $200-300). It came out so well that I almost didn't want to sell it. Anyway, I got $2,600 (at the time above private party, below retail for a clean vehicle) for a 15 y/o Mountaineer with 240K on the clock and completely rotted out suspension because the truck looked so damn good.

 

[Aspen03]

A good detail is worth every penny whether you do it yourself or take it to a shop. You'll realize it in a higher priced sale, better reception from people looking and less likely to gripe about little things since it will seem you actually cared for the vehicle.

When I sold the grand prix I had listed back in the late spring the first person who came to look at it had low expectations due to the 183k, the front end damage and was absolutely floored when he sat in a near pristine interior without a spec of grime or fingerprint on anything. Steam cleaned windows and interior panels look nearly new when you're done, a suitable dressing gives it that finishing touch.

Its like makeup, minimize the flaws while highlighting the good stuff. I used that to my advantage with the negotiating. While I obviously can't make an unpainted bumper, mismatched color hood even remotely better I was able to make everything else so impressive they overlook the other cosmetic issues, for a daily just to cruise to his factory job the great interior held greater weight than a perfect front end. He could tell it was well cared for other than the hit it took up front and was willing to accept it and I only came off 10% from asking which was only a couple hundred bucks.

 

[Michael Shepherd]

I am not sure if this is the case all over the US, but here in Houston, the used car market is on fire as dealers are constantly emailing/mailing us offers for our '15 Explorer Sport & '17 Exp Ltd. I have always suspected that dealers earn far higher margins on used than new car sales, so the lower the cost of the trade-in, the more the profit margin on resale. I have sold private and traded in, but when I have traded in, I do not mention the trade until I have the drive out price of the car, that way it is more difficult for them to massage numbers.

 

[B-McD]

The other advantage to trading in is in the taxes. Illinois recently capped the amount you can deduct from the deal but if you were to buy a car in cash or financing it for say $50K, here in IL the state will tack on another $4,125 or so in tax. Plus license fees, etc. and any local county tax. If your trade is worth $25k your taxed only on the difference, so you save $2K in taxes. Your states may be different and IL recently changed that nice bit of savings, but factor that in to your decision.

 

[Jeremygsu]

I would agree with using NADA over KBB. I keep my vehicles in excellent shape and no dealer has offered me more than Fair value on any trade-in in the last 10 years, Carmax included.

 

[joethefordguy]

I never rely solely on Kelley Bluebook, or any other single source. I prefer to collect a range of actual sale and asking prices for similiar vehicle in my area to make my own value determination.

 

[CubSmurf]

Hola, new guy here and wanted add my $.02. Not only is your location important but also what you're trading in. You're never going to get top dollar trade in on a Nissan Altima because there are 10 million of them.

I picked up a 2017 CPO Expedition XLT yesterday and the dealership gave me high-end KBB trade-in, FWIW.

 

[Trainmaster]

Welcome, Smurf.

 

[Banyan Sillito]

I am about to move up from my 2008 Expy Eddie Bauer EL to a 2020 Max. The dealers are offering me crap for trade-in and my Expy has been garage kept and has 94K with heavy options. No issues other than slight corrosion as bottom of rear hatch where they all do.

KBB says private party 9600 - 12400. Should I ask near the top of the range?

I have not sold a vehicle privately in 20 years.

Thanks

Did you end up selling it or trading it in? I'm looking for an EL in that range...

 

[Trainmaster]

No one's paying those prices for an '08 in New York... Here it might fetch $6500 if clean. It's 14 years old. Maybe without the east coast rust, you get big bucks there. I hope you do!