What’s the difference in Kelley Blue Book valuations and NADA trade in values? Since most of our stores work with the Kelley Blue Book tool, we thought we’d take a look at how the two differ and how they are alike. Hopefully this will help you as you decide how to trade your car. Remember: Earnhardt Auto Centers buys cars!
We represent a family of dealerships, and our used car inventory must be large for us to be competitive with corporate used car dealers. So, we buy cars from many people and never expect them to buy from us.
Our staff must study market data, sales history, active trends and industry resources (such as Kelley Blue Book) to determine your vehicle’s value and provide a market-aggressive offer or valuation. Some of our stores honor the “instant cash offer” price KBB provides (after matching inspection). To make the sale from your home, you can use No Bull Express.
NADA Trade In Values Explained
NADA refers to an organization that can count Earnhardt Auto Centers among its members. The National Automobile Dealers Association started with 30 members in 1917 and has grown to more than 16,500 dealer members. The NADA Guide began in 1933, just a few years after the Kelley Blue Book came into existence.
Naturally NADA uses data from many sources including the dealer members. It is privy to information from retailers, auction houses, and online websites. Furthermore, it gathers information on each vehicle model. It monitors supply and demand, and it keeps up with the effects of economic forces on the used car market.
With the internet’s ability to distribute this information, NADAguides have gone from being used mostly by dealers and lenders to being used by sellers as well.
Probably the biggest difference for sellers is that NADAguides show what a used car is worth under one classification: Clean Retail. It doesn’t divide it up into categories. This means that NADA trade in values reflect the maximum that a person can get for their vehicle. It doesn’t take into account the condition of the vehicle or the immediate market forces governing the sale.
Kelley Blue Book Values
Helping sellers as they attempt to determine the value of their car, Kelley Blue Book has developed categories with regard to the condition. These include Rough, Average and Clean Trade In designations. This allows sellers to get a more accurate trade in value before they go to a dealership.
What Do You Need for a Trade In Valuation?
If you have service and maintenance records, these are always helpful. Of course, you also need the title and registration. Last but not least, you’ll need a valid driver’s license.
Please give us a chance to buy your car! Visit the closest Earnhardt dealership to get a fair valuation on your car trade.
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