NADA, Edmunds, KBB

CapnDean · February 21, 2003

Just for the heck of it...I looked up my truck today. According to all 3, the value of my 2001 GMC Sierra SLE extended cab - - is roughly $200 less than what I paid for it tax total and all, in March of 2001.

So...if I had to live by these so called "blue books" I should be able to sell my truck and turn a nice profit right? E.G. drive it 2 years for free no?

Well..I am not that stupid. I really like the truck and I am not about to sell...just thought that those of us who may look at the book value to determine what we should be paying or selling a truck for...need to know that the book value published by these companies is crazy high. Just like a dealer's sticker price.

ClipperSkipper · February 23, 2003

Just for the heck of it...I looked up my truck today. According to all 3, the value of my 2001 GMC Sierra SLE extended cab - - is roughly $200 less than what I paid for it tax total and all, in March of 2001.

So...if I had to live by these so called "blue books" I should be able to sell my truck and turn a nice profit right? E.G. drive it 2 years for free no?

Well..I am not that stupid. I really like the truck and I am not about to sell...just thought that those of us who may look at the book value to determine what we should be paying or selling a truck for...need to know that the book value published by these companies is crazy high. Just like a dealer's sticker price.

Intersting numbers sounds as if you got a great deal.

Shaners · February 23, 2003

My truck shows a "private party value" of $27.4K. That's nowhere near what I paid for it new... About $10K under sticker price 18 months ago. You must have gotten a better deal than I did, and I drive a very hard bargain!!!

bigblackdog · February 24, 2003

I have found that Edmunds and Kelly are pretty much useless. You can only sell for as much as someone is willing to pay which usually is a lot less than those guides say. As far as trade in value, they are even further off! Dealers have a booklet published on a weekly or sometimes bi-weekly basis which lists the actual prices paid at auction for vehicles in a given geographical area. I have seen this guide and it shows prices a lot lower the the other two. A dealer will never pay more than he is POSITIVE he can sell at auction. Most dealers wont keep a used vehicle on the lot more than a few weeks, then it goes to auction. Sorry for being long winded on this, but I hear people all the time saying they can sell thier vehicle for what they paid last year or a little less, it just aint so.

THE BIGPUNN · February 24, 2003

bigblackdog hit it on the button. dealers only offer you wholesale value or auction value. banks and insurance companies seem to go by blue books when looking up replacement or loan values.

CapnDean · February 25, 2003

Right on....

So my point is made....What good are they? Why do they publish something that is soooo erroneous? Is it a marketing tool by the manufacturers & dealers? I mean....is that their way of luring a chap into perhaps paying more for a vehicle?