However, being more specific based on the details of a car doesn't necessarily mean that the results will be more accurate than NADA's results. While the pricing system is somewhat similar to what's used by NADA, most users find that the results feel slightly more specific compared to the broader value estimate provided by NADA. KBB uses information from real-world pricing to create custom estimates based on the specific details of each vehicle. How Is a Car's Kelley Blue Book Value Determined? In fact, Kelly Blue Book currently boasts that it uses 250 data sources that come from 3 trillion different data points. This can be really useful for someone who wants to show up to the negotiation table prepared without the worry of any surprises making it hard to get the best deal possible. In addition, KBB now uses technology to actually provide users with predictive analytics for creating dynamic price-change updates in real time based on what the market is doing. The benefit of using the KBB value formula to get the price of a car is that this system uses many different forms of "data intelligence" to provide very customized pricing. Many people consider this to be the go-to for how to find out car value online. The Kelley Blue Book has been helping people get a feel for car prices ever since it was started back in 1926. However, the anticipated cost to buy a Certified Pre-Owned (CPO) version of many used vehicles can be provided. NADA doesn't provide values for private sales of used cars. There is one thing you won't get when looking up a NADA value. NADA values are simply intended to create reasonable expectations based on mainstream data. However, getting a NADA value in your hands doesn't mean that the price will be honored by a dealer or seller. The goal of getting a NADA value is to get an assessment of the retail value that you could reasonably pay for a vehicle when showing up on a dealer's lot to make an offer. That's because NADA is actually owned by J.D. However, NADA does also factor in retail transactions and pricing information gathered from the actual dealer management systems of big players like J.D. The biggest data point refers to wholesale transactions around the country. Values are determined using a number of data points that NADA has access to from across the country. Generally, NADA increases the value on vehicles that have any optional features or accessories over the baseline. The core factors that determine a car's NADA value are: NADA uses a pretty straightforward formula that's easy to apply to any car. You can get a car's NADA value by plugging in some basic information. It's even used for boats and motor homes. In addition to providing pricing parameters for both new and used cars, NADA also generates values for classic cars, motorcycles, and recreational vehicles (RVs). Some dealers rely on the NADA Official Used Car Guide pretty heavily when making trade-in offers. This trusted trade organization has actually been around since 1993. NADA is short for the National Automobile Dealers Association. Still undecided about the best place to get used car values? There's still a lot more gas in the tank when it comes to Kelley Blue Book vs NADA. Getting a NADA car value or Blue Book value simply comes down to having a way to access objective information to make personal assessments on used car values before negotiating an offer. They provide unbiased pricing information that's based strictly on the market data that's available without any type of preference for specific makes or models. These pricing platforms are not intended to sway or inflate pricing in any specific direction. It's also important to know that both NADA and KBB offer objective estimates. This allows KBB to give you a private Blue Book value that you won't get from NADA. You might even notice that KBB asks you quite a few more questions about the condition of your car than NADA if you use both platforms. KBB brakes things down on a more personalized level by weighing factors like your car's condition, warranty details, and mileage in conjunction with the market conditions in your zip code. The NADA guide puts the focus on your vehicle's wholesale price using data gathered from auctions, dealer sales, manufacturers, and more. The two platforms actually use different methods for assessing car value. When comparing NADA vs KBB, it's also important to know the differences.
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