If you’re buying a car at a dealership, make sure to negotiate the trade-in value of your old car and the price of the new car separately. Instead, use the information as a negotiation point to help you nail down the exact price of the car. However, don’t expect dealers or private buyers to pay you exactly what is estimated. It’s well worth using to determine your asking price for trade-ins and even private sales. That’s why we recommend looking at dealer values like Black Book or MMR as well.Įdmunds provides a number of tools that we believe are helpful for consumers to understand how much to pay for a car. It’s good to have a variety of information before negotiating the sale of your vehicle, and it’s also important to have realistic expectations. Understand that the Edmunds Value will likely be higher than what a dealer offers you. Keep in mind that once you share your personal information with Edmunds it’s likely you’ll be getting phone calls from dealers, so we really don’t like that this is a requirement (especially when the dealers don’t use Edmunds Values when quoting a trade-in). Although they require a phone number, which is a downside, their estimates can help to paint a picture of the value of your car. When Should I Use Edmunds Values?Įdmunds has plenty of great information and tools available for car buyers. It’s another good tool to help you secure a great deal on your next car. New predictions are published regularly and they can help you to decide when it might be the best time to buy that exact model. In the True Market Value tool, predictions are available for all models. It may be worth bringing up an estimate in private sales, though, as many consumers are aware of the authority behind the Edmunds brand. However, most dealerships do not use this tool as a reference point. Are Edmunds Values Accurate?Įdmunds True Market Value tool is considered to be fairly accurate for new cars. It would make their tool more trustworthy and help customers to gain an idea of how accurate their values are. Their search tool could be improved by showing consumers how many car sales are used to generate an evaluation. Overall, it’s a worthwhile tool when you want to determine how much your car is worth. They collect and analyze car sales from an unknown number of sales across the country. From this information, it provides a valuation both for trading it in or selling it to a private buyer. How Does Edmunds Reach Its Value?Įdmunds uses a car’s make, model, mileage, condition, and styling to determine the worth of a vehicle. When using this feature, you’ll receive an actionable offer that you can take to CarMax directly. The True Cost-to-Own feature, which compares maintenance costs for vehicles, has drawn the attention of car buyers for years, as well.Īdditionally, Edmunds is used by CarMax to determine the value of your online trade-in. In addition to their True Market Value tool, Edmunds is known for providing useful information about cars, along with their tools that allow buyers to search the inventory of a network of dealerships. Due to their existing reputation as a trusted source from which to buy vehicles, their True Market Value tool was quickly accepted as a great way to understand the value of the car. This tool analyzes a number of factors to determine the correct price for a vehicle. These days, they are known for their True Market Value tool. Consumers trusted them for advice about car buying and understanding the value of a car. In the 1990s, Edmunds made a series of maneuvers to become a digital source of auto information. It was a printed booklet that aimed at helping shoppers to make informed buying decisions. What is Edmunds?Įdmunds began as Edmunds Publications in 1966. We’ll discuss who they are, how they find their prices, and how accurate their estimates tend to be. Today, we’re going to take a look at Edmunds, a source of car information that also provides an evaluation tool. But the question remains: Which ones should you be using? There are several prominent companies out there that are designed to help sellers to evaluate the price of any given vehicle. Otherwise, you run the risk of selling it for too little or asking too much. That’s where Edmunds values can be helpful. With either option, you’ll need to know how to set your price accurately. You need to know the value of your car before you start to think about trading it in or selling it privately.
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