Edmund Used Cars the True Guide for Car Assessment
Edmunds used car site is not one of those websites where you go when you want to acquire a new or used car; it is a website for investigation only and it issues a reference that appraises the true market value (TMV) for new and used vehicles, and place these values online. It is from the Blue Book collection and it is known as the Edmunds Blue Book. Edmunds’ True Market Value pricing system allows consumer to determine the average transaction price, or “what others are paying,” for new or used vehicles in a particular area so that the process of negotiations can begin with a fair price in mind
Although founded in 1966, Edmunds has been issuing TMV pricing for cars since 1995 and it was the first to launch an online tool for researching automotive data. Edmunds Blue Book values are available within weeks of the launch of a new model year changeover. Since it was founded, Edmunds has served as an impartial resource for consumers looking for a step in the right direction. They have continued to be committed to providing accurate data, dealer ratings and reviews so those consumers are well informed about their potential purchase.
Edmunds’ carries a range of professional staff that includes pricing managers, researchers, statisticians, and programmers who continually study new and used car prices and carefully observes changes in the market trend.
While you have other guides (such as NADA or KBB) that are likely to base their vehicle pricing on standard list prices at dealers, Edmunds does not do that, rather it bases its vehicle pricing on real sales data of similarly operational vehicles in the same area and this is what they refer to as TMV pricing. Since TMV pricing is based on genuine sales and accounts for a vehicle’s location, color, mileage, condition and options, so it is believed to be a more accurate and ultimately a fairer way to estimate a vehicle’s value. It is important to note that the TMV prices do not account for the following incentives and fees that are usually applied after a contract price has been finalised:
- sales tax
- manufacturer-to-consumer refunds
- seller title/documentation fees
- license and registration fees
The Edmunds Blue Book is typically used by dealers, private party owners and consumers so that they can study precisely what a car is valued at on the market; hence the Blue Book can make it easier to assess a car correctly. Users of the website can research the make and model and use their ZIP code to find out what a new or used car costs in their area as well as where they can purchase these vehicles. The TMV prices for all vehicles can be compared and users can contact a dealer or seller to schedule for inspection.
Checking with the Edmunds Blue Book before purchasing a new or used car permits buyers to view more than just a value for a vehicle; it allows a consumer to view information about the vehicle via the report. The AutoCheck Free Record Check is a type of report that is accessible from Edmunds.com’s VIN Check page and it investigates all the vehicle past information that is obtainable for the precise VIN (Vehicle Identification Number) and also provides the total number of past records that exist for the particular vehicle.
How to value a Used Car on Edmunds
So what steps do you take in defining a value for a used car on Edmunds Site?
- Go to the Edmunds website at http://www.edmunds.com/ . and select the “Used Cars” tab from the menu bar atop the homepage.
- On this page (Used Cars), under “Appraise a used car”use the drop-down list of options to select the vehicle Year, Make, Model and if you can the Trim. Then you can go ahead and enter your ZIP Code and click the blue “Appraise It” button.
- On the next page (What is it worth?), you can confirm your ZIP Code and also select a specific style for the vehicle from the drop down list provided (under Zip code & Style). A style is the specific version of a particular model. Each style varies in levels of equipment price point. After selecting a style, click the orange “Add Colors & Options” button to continue on to the next step
- On this page, select color and possible equipment (if available); then click the orange “Condition & Mileage” button
- On this page, enter the current mileage and condition the car is in; then click the “Appraise My Car” button
Finally on the results page, you will note a True Market Value pricing for the vehicle you have just searched, and this information will include Trade-in, Private Party and Dealer Retail values as well as the Certified Used Price.