Posted Sunday, May 1, 2022
What is trade-in value anyways? New and used car dealerships use a variety of tools to determine what a vehicle is worth. Typically, there are several factors’ dealerships consider when making a fair market value trade-in offer. For example, how many similar cars for sale are nearby, the age, mileage, popularity of the make and model and condition. There’s no standard, streamlined procedure dealers follow in regard. Granted, there are many well-known resources they use including internal trade-in tools like Accu-Trade.
One of the most trusted trade-in vehicle valuation tools for both consumers and dealers is Kelley Blue Book trade-in value. Established in 1926, almost a century and counting, they’re one of the few companies that provide both auto and motorcycle trade-in values. Based on the year, make and model, Blue Book value is a great resource for all things automotive when it comes to pricing in general. That goes for new cars, used cars and certified pre-owned, get a no-obligation Kelley Blue Book (KBB) Instant Cash Offer today.
Edmunds is another resource that is used to gauge a vehicle’s trade-in value. It’s also a platform some dealers use to list their vehicles for sale. And of course, dealers must pay to advertise their cars, trucks, and SUVs so you’re better off going straight to the source, the dealer’s official website. And while Edmunds car value has only been around since 1966, they specialize in offering trade-in estimates for cars, trucks, and SUVs only. Pretty limiting considering they’ve been around for over 56 years and counting.
While NADA isn’t as well known as KBB and Edmunds, there’s one thing that really sets them apart from the rest. They are one of the only resources to offer RV trade-in values, along with boat trade-in values as well. Perhaps it’s their specialty per se though you can obtain NADA car values too. Unless you’re in the market for a certified used or new Honda, you’re better off spending your time shopping our quality pre-owned inventory instead. Oh, and we buy any car if you’re looking to sell your car outright as opposed to trading it in.
In summary, if you’re looking to trade-in your used truck, car, or SUV, getting a Kelley Blue Book appraisal is the way to go. And while there are rare instances when some vehicles may not be eligible for an Instant Cash Offer, it’s worth reaching out to Klein Honda to get a personalized trade-in valuation. After all, it never hurts to get a second opinion while we work to help you get into the perfect new or used Honda car, truck, or SUV. In the meantime, if you have any specific questions pertaining to trading in your vehicle, don’t hesitate to contact us.