Tuesday, November 17, 2009
Trade Values
Kelly Blue Book/NADA/Edmunds.com/BlackBook unfortunately are not the Bible for car values. We as a dealer have to look at what other dealers are paying for them (from dealer to dealer) that gives us a true value this can be found at a dealers only site Manheim.com. If we pay more than any other dealer for the car we must also price ours higher than any other dealer. Which means, we may never sell it, if we pay too much.
We do not determine values for cars, the market does: You car also may show an accident on Carfax so any one whoever pulls up a Carfax, (and we do to show them to every one) who wants to buy from us. The customer will always tell us it has been in an accident and therefore they will buy the car elsewhere because the other cars they are interested in do not show an accident no matter the severity. I am sorry. Your car is worth as much as the market allows. It only makes it tougher for us to sell if we pay more than any other Dealer.
I know most consumers would not buy a car that has been in an accident no matter the severity. It is referred to as diminished value in the eyes of the buyer.
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