6/17/2023 0 Comments Nada black book valueRetail: Because these values can vary greatly, it’s important to understand what the common pricing terms mean and the differences among them.Ī car’s trade-in value is the amount of money a car dealer will offer you for your vehicle, while private party value is the amount of money you would get when you’re selling a vehicle directly to a buyer. Understanding Pricing Terms: Trade-In Vs. NADA does not provide a private party value. Pricing Classifications: KBB provides private party value, trade-in value, suggested retail value, and certified pre -owned ( CPO ) value, while NADA provides trade-in values, retail value, and CPO values.Different Conditions: NADA vehicle values are generally higher because they assume the car is in good condition, while KBB asks specific questions about the car’s condition.Data Collection: KBB gets their data from car auctions, used car sales from auto dealers, fleets, manufacturers, and private party sales to determine pricing while NADA uses wholesale transactions, dealership sales transactions, and pricing from websites like Autotrader.Methods of Assessing Value: NADA focuses on a vehicle’s wholesale price, while KBB looks at condition, mileage, warranty and local market conditions. ![]() NADA and KBB also have some key differences in determining car pricing :
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