With the endless information on the internet how can you determine who’s telling the truth? I’ve always been a believer in ‘following your instincts’ because they’re usually right. But when selling, trading in and buying a car, who do you trust?
Based on what I’ve learned from hanging around the store, read in reports and experienced first hand, there is a lot of information out there. You just got to be careful where you’re getting it from and if it’s, in fact, accurate.
So what’s out there? Who can tell you what your car is worth?
Kelley Blue Book (KBB): The online version, kbb.com, launched in 1995 and is probably the most popular site for consumers to get a value on their vehicle today.
Black Book: This guide has been active for more than 53 years and is known to be reliable market driven information. It is published daily.
NADA Guides: It all started in 1933. NADA provides market-reflective value for all including dealers, auctions, financial institutions and credit unions.
Manheim (MMR): Established more than 60 years ago, it is known as the world’s largest provider of vehicle remarketing services.
Vehicle Purchase Program (VPP): The autotrader.com trade-in marketplace. They offer an online guarantee.
People love Kelley Blue Book! Customers like to throw out terms like “Black Book, Blue Book … NADA.” And I would agree with the people, these are helpful tools. However, they are simply a personal guide to buying and selling a car. They are not an absolute. The truth is, your vehicle is only worth what someone is actually willing to pay for it.
MMR (Manheim) and Black Book are probably the most accurate guides because they are based off a selling history of a vehicle, sold at auctions. However, the only true online guarantee is VPP (Vehicle Purchase Program) through Autotrader. If the vehicle matches the exact description you gave through this site, the check is handed over to you.
For next time, be careful who you listen to. I wouldn’t want your expectations to be broken or a bad feeling in your stomach. It’s important to leave feeling good!
So tell me, what sites do you use to gather your information before buying and selling a car? Are there any I’ve left out?
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