When buying or selling a used car, you may be checking out different valuation tools to get an idea of what that pre-owned car may be worth. There are many popular resources out there, but two of the most popular Ithaca, Trumansburg, and Watkins Glen resources are NADA Guides and Kelley Blue Book®.
When comparing NADA Guides vs. Kelley Blue Book® values for used cars, you'll find that they're a little different in the way they operate. Maguire Dealerships is taking a closer look at what that means for you, the Syracuse and Baldwinsville driver, and how to use these tools to your advantage.
Finding the Value of a Used Car
Our dealership uses both of these tools to determine what your trade-in may be worth. If you're considering selling your car privately, you'll want to use both Kelley Blue Book® and NADA Guides to get a solid understanding of what others may be willing to pay for the car. However, there can be some differences between these sources, and that's because different methods are used to calculate the value.
Kelley Blue Book® has over 90 years of experience in analyzing auto industry data to provide a vehicle value. Real-world used car prices are calculated from wholesale auctions, dealerships, fleets, manufacturers, and private party transactions to get the value of a vehicle.
With KBB®, you'll see how much a car may be worth if sold by a private seller, get a likely number if trading it in at a dealership, and a suggested retail value.
NADA Guides uses wholesale price, local market demand, and real-time retail market prices to calculate vehicle value. NADA will typically give a higher value than Kelley Blue Book®, because they assume that the vehicle is in good condition. Kelley Blue Book®, meanwhile, has the option to mark a vehicle as being in excellent, good, or fair condition, which can bring the value down in certain cases.
KBB® vs NADA Similarities
Both KBB® and NADA are used to provide values for vehicles. While they are different in some respects, they're similar in others. They're both used by consumers and dealers. They can cover cars, trucks, SUVs, and RVs.
They're updated often, and have the latest information available for both buyers and sellers. They're also highly customer-friendly, giving you the information needed to make an informed decision about your next car.
Browse Our Used Cars for Sale
If you're searching for that next car, you may be considering something new, but you may also be thinking about pre-owned. Our pre-owned inventory includes cars from Audi, Chrysler, Dodge, Jeep, Toyota, Subaru, and many other top automakers.
We think you'll love the pre-owned model selection. In fact, if you do drive away in a pre-owned car, we always make a promise to you: If you don't love the car, it can be exchanged for another pre-owned model within 30 days or 1,000 miles of driving.
What is Your Car Worth?
If you are selling your car, or considering trading it in, then the Kelley Blue Book® and NADA Guides are both great tools to use. In fact, Ithaca, Trumansburg, and Watkins Glen drivers have been using them for years, even when the Kelley Blue Book® was an actual book.
Now, the internet has made it easier to find out what your Syracuse or Baldwinsville vehicle is worth. Be sure to use these resources to your advantage when buying or selling a car.
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