I am in the process of selling my 2004 Toyota Camry LE. Many offers came in without even looking at the actual car and many posted their first question by asking whether I will negotiate for a lower price.
I priced the vehicle couple hundred dollars less than private party sale price. It’s a bit upsetting when getting calls, offering $2,000 less than what I think is the fair market value.
I like Edmunds.com for car pricing information. It has worked for me in the past 10 years on buying and trading my own vehicles. Here is how Edmunds' comparing to the other popular car appraisal sites (Kelly Blue Book and NADA).
Trade in value (Clean)
9,237 Edmunds.com
7,900 Kelly Blue Book
10,450 NADA
9,237 Edmunds.com
7,900 Kelly Blue Book
10,450 NADA
Private Party Sales
10,384 Edmunds.com
9,690 Kelly Blue Book
NADA doesn’t show values for private party sales
10,384 Edmunds.com
9,690 Kelly Blue Book
NADA doesn’t show values for private party sales
Retail price (Excellent)
(since KBB and NADA only have values in Excellent Condition)
12,235 Edmunds
12,390 Kelly Blue Book
12,350 NADA
(since KBB and NADA only have values in Excellent Condition)
12,235 Edmunds
12,390 Kelly Blue Book
12,350 NADA
After checking out these numbers, I realize everyone was quoting numbers from Kelly Blue Book, no one was quoting NADA's. The fascinating part of this exercise, all three sources shows very similar numbers on retail pricing.
I am sticking to the my existing strategy – pricing the vehicle in accordance to Edmunds report - May be I will get a reasonable offer soon.
