Originally Posted by patpur
acrispy1 - what you just stated is the other confusing issue for some. Kelly uses 3 different rates, the trade in, retail and private party values for your car. Trade in will be the least amount, private party is what you could possibly buy it for from a want ad/private party and then the retail is from a dealer. How they come up with the private party number I don't know.
knowit - the book I'm talking about had initials, it was a small book. I've seen it many times as I had a buddy who was a used car dealer. The book listed every option possible for any given car, much more detailed than Kelly. Again I think it was NADA? Whatever I guess the bottom line is we ain't in collectors item status yet!
Pat
Guys STOP. Where do you think Kelley, Black book, NADA get there numbers from? They base it on the auto auction prices. Those are hard numbers. And as I stated its Manheim numbers. The worlds largest auction group. It all started in Manheim PA and has grown world wide. They look at last weeks numbers and last months and set the trend. To give you an idea, in the Manheim auction in Manheim (they have several PA locations too) they run the cars for all dealers to attend on every Friday. Every Friday around 10,000 cars go through. Oh by the way they hold auctions almost every day! Some days are GM dealers only some are VW etc. Every other week on Thursday they hold the exotic sale, Rolls, Bentley Ferrari, and that is typically 5,000 cars. Get the picture. These are the real numbers. I've been there many times.