Edmunds.com Appraisal (2024)

FAQs

How accurate is Edmunds car appraisal? ›

Are Edmunds Values Accurate? Edmunds True Market Value tool is considered to be fairly accurate for new cars. However, most dealerships do not use this tool as a reference point. It may be worth bringing up an estimate in private sales, though, as many consumers are aware of the authority behind the Edmunds brand.

Many experts believe Edmunds' values are more accurate than KBB's. That's not always the case, of course, which is why getting several estimates and averaging still makes the most sense.

Yes, Edmunds is a legitimate online car buying and selling marketplace. The company is accredited by the Better Business Bureau and has half a century of experience buying and selling cars.

To find the value of your car, you can use pricing guides like Edmunds or Kelley Blue Book which can give you an estimate of your car's value based on its age, mileage and other conditions and features.

Since 1926, Kelley Blue Book has been one of the most trusted names in the auto industry.

The Kelley Blue Book Trade In Range shows what a consumer can expect to receive for their car this week when trading it in at a dealer. The Kelley Blue Book Private Party Value reports on a fair price when selling the car to an individual instead of doing a dealer trade in.

The company is headquartered in Santa Monica, California, and maintains an office in downtown Detroit, Michigan. After making a minority investment, Carmax purchased the whole company at an enterprise value of $404 million in 2021. Santa Monica, California, U.S.

Most of the vehicle information published on Edmunds is sourced directly from vehicle manufacturers, usually from their dealer order guides, vehicle brochures and/or Web sites. This includes the following types of information: standard features (cruise control, power door locks, 4-wheel ABS, etc.)

How Accurate are Kelley Blue Book® Car Values When Selling Your Car? Kelley Blue Book (KBB) values can be a helpful starting point for estimating the value of a car, but it's important to keep in mind that they are just estimates and may not always be 100% accurate.

Car insurance companies utilize many factors when valuing a car. These factors can include the make and model of the car, previous accidents, normal wear and tear from use, any parts replacements, mileage on the car, and the general market value for the car.

How do you determine the fair value of a used car? ›

You can find the actual value of your car by going to a library or bookstore and referring to a Kelley Blue Book. Or, you can find similar vehicles that are being sold in your area (within 50 miles of your zip code) with local auto trade magazines, or online.

The first step in assessing a used vehicle's true worth is to check its book value. This is the figure you'll find in pricing guides and used-car pricing websites, which lists a vehicle's base retail value. To get a more accurate figure, you must factor in any options as well as mileage and condition.

KBB prices are based on list/advertisted prices, whereas Edmunds TMV is based on sales transaction data. Since cars generally sell for less than the asking price, Edmunds prices are lower.

KBB factors in the condition of the vehicle, local market conditions, and popularity of the vehicle, so their prices tend to be a lower than NADA. NADA values tend to lean higher because they assume cars are in good conditions. Insights can be gained from both values, but KBB looks at more factors.

The accuracy of KBB values can vary depending on several factors, such as the condition of the vehicle, its location, and the current market demand for that particular make and model. KBB values are based on a number of factors, such as the car's make, model, year, mileage, condition, and features.