Posted Tuesday, June 28, 2022
If you are selling a car in Indianapolis, you want to get the most accurate car value estimation. Where can you get it: on Kelley Blue Book or Nadaguides website? In fact, the easiest way is to get a firm offer from the dealership. This is fast, simple, and absolutely free. You’ll get the exact price a dealership is ready to pay for your car right now.
But if you need some figures to get an understanding of what to expect, you can use either Nada or KBB. In this post, you will find an explanation of how each source defines car values.
Kelley Blue Book was first published in 1926 as the vehicle price guide. It was intended for car dealers, insurance companies, and banks so that business people could use current car values in their dealings. In the 1990s, the KBB was put online as an experiment. They decided to offer the information to consumers for free, and then sell advertising to car brands and dealers. This business model is still actual for the Cox Automotive conglomerate, which currently owns Kelley Blue Book.
Kelley Blue Book uses software to review and predict trends on the market by comparing more than 250 data sources. It uses predictive analytics and takes into account the following parameters:
At Indy Auto Man, we believe KBB values and take them into account when estimating your vehicle, whether you want to sell or trade it in.
VIN is a standardized number assigned to every car since 1980, and it is possible to get a KBB value by entering VIN in the value calculator. The number gives access to the model, year of manufacture, and history of the car so that the estimator could take these data into account and provide the true value of the vehicle.
NADA stands for National Automobile Dealers Association – a trade organization representing all foreign and domestic franchised car dealers before the media, public, federal agencies, and Congress.
The first NADA Official Used Car Guide was published in 1933. It was available only for the dealership subscribers. Later, the company launched the NADAguide website for consumers. Today, the website is owned by J.D. Power, responsible for the valuation data.
They work with automotive experts and provide pricing information about all types of vehicles, including motorcycles, campers, RVs, trailers, and boats, calculating them by such sources as:
When determining the used car value, NADA Guides uses similar criteria as KBB does, like:
NADAguides doesn’t provide private party values, but you can find values for certain CPO vehicles.
In short, Kelley Blue Book can show you what your car is worth today, while on NADAguides you can only see how much your used car should cost.
NADA gives a good rough estimate of why a dealership values your car this way, but KBB can give a better idea of how much your car is worth.
For more accurate car pricing, most dealers believe Kelley Blue Book or Edmunds, while NADA can hardly be used for real references.
To get the most accurate used car value in Indianapolis, check both, KBB and NADA evaluations, and get an opinion from the local dealers, like Indy Auto Man. Take your car to the dealership to carry out an estimate or get our firm offer online right now.