Why such a wide price range for private party sale?
I'm looking to buy a used Ford Ranger, I priced it as close to accurate as I could on KBB, NADA, and Edmunds TMV.
KBB says about $7,000 for fair condition, and a little over 8 grand for really good condition.
TMV seems to be the lowballer at around $3,500 in average condition.
And NADA says between $5,600 and $7,100 trade in range, I didn't see a private party value option.
Why is there such a crazy price range between the 3? I know KBB tends to be a tad high these days, but should I just average the three so I know what to offer the guy?
Does it matter what a book says? No book I know of is ever going to buy a truck…
Sellers tend to think they sit on a goldmine, or the last car in the world that's for sale. Offer seller what you think it's worth. If the takes it you got a deal, if he doesn't you roll on to the next one.
Not hard at all
KBB has been highly criticized over recent years for over valuing automobiles. Edmund's TMV is much more realistic.
All of these sources use different criteria to value a car. None of them are perfect, none of them are accurate and none of them offer a definitive price value.
Offer him what YOU THINK the car is worth to you.
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