Does anyone know the difference between the two? I know that my bank (USAA) uses NADA for a basis for car loans. The difference in what my car is worth is quite a bit though. I'm just trying to figure this out a bit. Here are the links:

http://www.kbb.com/KBB/UsedCars/Pric...uizConditions=

http://www.nadaguides.com/usedcars.a...a=-1&mi=140000

 

My bank used NADA for my load as well.

 

You would have to assume that its just simply two different companies estimating values in separate ways. You would probably need to find someone that works for each company to find out their process in evaluating and placing value on used cars.

Most reputable banks and credit unions base loans off NADA, which from what I've noticed gives higher values than KBB for used cars.

Obviously most people buying a used car like to use KBB for the lower price reasons.

 

KBB and NADA have a value different of just over 2,000 for my car.

 

It's just like taxes. You could give the same info(assuming not just a simple return) to two different accountants and get two different results.

 

TMV.... look up the true market value in your area.(edmunds.com) Its the best system other than the blackbook used at the auction-which isn't available to the public for free. NADA and KBB is for your parents. GL

 

KBB is the most accurate period! Its used by dealers everywhere, Im a used car dealer myself and strictly use KBB. KBB is just more accurate. That blackbook is bogus....Im not gonna ever believe the value of my 2001 GS430 is $6,000 thats the kind of values the blackbook gives you....Basically it takes the actual book value and slashes it in half!!

 

Well believe it...that's what dealers are doing. I just purchased a new 09 BMW 335i and the best the dealer would offer me was 6500 for my 01 GS430 that had only 88K miles. When my salesman came back with the info, he said he was embarrased by the offer given the extra clean condition of my car. But that's what wholesalers are offering right now. I said, fine and that I would sell it myself. So I bought the BMW without trading the GS and sold it the next day for thousands more.

As to the KBB vs NADA, I know that my insurance company (State Farm) used NADA to settle up with my wife's ES300 that got totaled by our son a few years back. I remember KBB's price on an 00 ES300 was lower than NADA ($11,000 vs $14,000). I almost fell over in disbelief when State Farm stated they use NADA and offered us $14000 as a settlement. So I guess you can say that NADA is good for those who have State Farm Ins.

 

KBB is the best-what was I thinking. Why even gripe over this when the Blackbook value isnt used in the general public as I mentioned Most people never even heard of it. I merely used it as a reference and you call it bogus as a used car salesman. Isnt majority of all use cars purchased at auctions-using the blackbook??? Buy at Blackbook... Price it a NADA... Sell at KBB... Dealer profits! I know this game inside out my friend I did it myself for 3 yrs and was very good at it.

 

Edmunds says $6854 for Private Party, so it's even cheaper than KBB... This is getting ridiculous! I just need to get deployed so I can pay it off and sell it I guess.