KBB and Edmunds

I have a farm truck I am trying to sell. I used both KBB and Edmunds to try to come up with a value for it. The value from each sight is about $3000 apart for the same truck. I've done it a few times and get the same results. Any suggestions on how to get a fair appraisal for the truck?

What kind of truck is it?Take it to an auction.You will find out exactly what its worth that day.Any local dealers? Auctioneers?Newspaper adds(read them), Internet truck sales?Talk to your buddys,what do they say? What does your 'gut' tell you its worth?

Here it goes again, people don't give general location of said item.
It will probably get a higher appraisal in Walcott, Iowa than it will get in Boston, Mass.

there is no way to get a value without a visual inspection on the unit! pictures are a ballpark figure. what if you open the hood and it has no engine! its your truck you know what you have in it and should know what you want when you sell it.

I saw the same thing. Was pricing out late-90's Ford Diesel's this winter.

Edmunds was quoting HALF what KBB was.

Around here, those pickups seem to be selling for slightly MORE than KBB values. I bought a '96 F-250 for $500 under KBB's price, and felt like I stole it.

I think you'd get lynched if you bought one of those rigs for the price Edmunds suggested...

Ben

Split the difference.

Use NADA. That is what my bank goes by on vehicle loans. Dave

KBB valuations usually run high.

Most farm trucks are licensed, insured and used as business vehicles. Most people consider that a negative and will discount a farm truck compared to a personal vehicle.

I'd use the Edmunds as a bottom line if you are comfortable with that, and ask 10 to 15 percent more than that. If you don't get any serious offers after two weeks, reduce your asking price.

Most banks and insurance companies use NADA.

Keep up the good work Harvey2 I agree every time you ask where? Just the state would be ok. Jerry in Pa.

use NADA, standard in banking and insurance

Try looking on http://www.truckpaper.com/drilldown/manufacturers.aspx?catid=255&bcatid=27
It is a side of tractorhouse.com

Vehicle prices vary by location seasons of the year interest rates niches in the market supply and demand etc. Right now is a horrible time to buy great time to sell. Income tax returns has a great effect on available money. I always ask high. Asking ain't getting but you can'get it if you don't ask.

Part of my job duties when I was with the county was to set auction reserve values on surplus motor pool vehicles. I usually used three services (KBB, Edmund's and NADA) and took an average, when one was particularly high or low I threw that value out. We usually asked wholesale +10% to cover the auction commission. There were politics involved as if I wholesaled the cars to dealers the perception was we were giving dealers sweet heart deals at the expense of the taxpayers. When I sold cars at auction I'd info all the local dealers and enough would show up to make sure there wasn't any exceptional deals (below wholesale) happening. As for the real value...one year I sold the vehicles by sealed bid. Received a bid from and individual that also included an essay of why it wasn't worth more than $2,200. A dealer bought it for $4,100 and had it less than a week. Some of it is what they are/where you are and when. One auction I had the reserves set, we started with our newer vehicles, some 4 year old Malibus and we couldn't get reserve out of them, called no sale and ran some 5 year old Taurus(es)? Taurusi(?) through, reserve was $3,900 and $4,200, both went for $7,000 or more. I ran the Malibus back through the ring, one made dead reserve, with the surplus from the Tauruses I rolled one of the Malibus for about $300 under reserve. For the day I had $77,000 in vehicle sales and was within $1,500 of budgeted salvage value. You need to be objective about condition, which is hard for a vehicle owner, as time goes buy things happen to your car to age it, you fix it or you accept it. If you accept it you tend to forget about it or trivialize the value effect of the damage. You say it's perfect except for the dent in the trunk lid so I want clean retail for it because it's a really good car. The fact is I can go to a dealer and buy one without the $500 dent in the trunk for the same money, and since it's from a dealer there are more legal ramifications for the seller if it's not as described or fraudulently represented.

Your insurance agent should be able to get you an "actual cash value".

where's paul at he can price anything without pics. or location. Insert sarcasm here.

Harvey. I didn't ask you to appraise the truck, just wanted to know of similar issues with KBB and Edmunds. Oh, by the way I'm in Iowa where your comment comes off as arrogant. Where are you? I didn't see it in your reply.

Mr. skybow,
Look in the modern view under profile, mine is there, where is yours?
It seems that a lot of folks are ashamed to let others know the general location of their domicile.
'Auf wiedersehn!'