Edmunds.com Appraisal (2024)

FAQs

How accurate is Edmunds car appraisal? ›

Edmunds data, while accurate, isn't infallible. There will be times when we don't have enough data to give accurate results or there is a trend that isn't being reflected in the numbers. In these cases, it's best to get your own "real-world" TMV. Talk to three dealerships to get price quotes.

Many experts believe Edmunds' values are more accurate than KBB's. That's not always the case, of course, which is why getting several estimates and averaging still makes the most sense.

Yes, Edmunds is a legitimate online car buying and selling marketplace. The company is accredited by the Better Business Bureau and has half a century of experience buying and selling cars.

The Kelley Blue Book ^® Price Advisor shows you what you should pay for a new or used car based on what others have paid in your area.

To find the value of your car, you can use pricing guides like Edmunds or Kelley Blue Book which can give you an estimate of your car's value based on its age, mileage and other conditions and features.

No. A home's appraised value is the opinion of a licensed, objective appraiser. This professional assessment is typically used by the buyer's mortgage lender as a kind of safety precaution, to make sure that the home is worth the loan amount. Appraised values are often lower than fair market values.

The company is headquartered in Santa Monica, California, and maintains an office in downtown Detroit, Michigan. After making a minority investment, Carmax purchased the whole company at an enterprise value of $404 million in 2021.

The accuracy of KBB values can vary depending on several factors, such as the condition of the vehicle, its location, and the current market demand for that particular make and model. KBB values are based on a number of factors, such as the car's make, model, year, mileage, condition, and features.

Most of the vehicle information published on Edmunds is sourced directly from vehicle manufacturers, usually from their dealer order guides, vehicle brochures and/or Web sites. This includes the following types of information: standard features (cruise control, power door locks, 4-wheel ABS, etc.)

How much did CarMax pay for Edmunds? ›

in a cash and stock deal. In January 2020, CarMax invested $50 million to acquire a minority stake in Santa Monica, California-based Edmunds. CarMax, a Fortune 500 company, will acquire the remaining shares of Edmunds for a purchase price that values Edmunds at $404 million.

Edmunds developed True Cost to Own (TCO) to help car shoppers estimate the total five-year cost of buying and owning a vehicle. The tool makes it easy for shoppers to compare five-year total ownership costs for the different vehicles they are considering so that they can make more informed buying decisions.

KBB factors in the condition of the vehicle, local market conditions, and popularity of the vehicle, so their prices tend to be a lower than NADA. NADA values tend to lean higher because they assume cars are in good conditions. Insights can be gained from both values, but KBB looks at more factors.

The first step in assessing a used vehicle's true worth is to check its book value. This is the figure you'll find in pricing guides and used-car pricing websites, which lists a vehicle's base retail value. To get a more accurate figure, you must factor in any options as well as mileage and condition.

Though NADA is considered a very reliable resource of used car prices by most, to fully understand when, where, and what makes it so you must understand the basis it's built on. That sounds simple enough, but many American consumers could be very misguided about its information.

Kelley Blue Book (KBB) values can be a helpful starting point for estimating the value of a car, but it's important to keep in mind that they are just estimates and may not always be 100% accurate.

Carfax entirely relies on their network of dealers, mechanics, and service centers to provide accurate information about vehicles. Unfortunately, that means relying on human beings that are busy and overworked to get things right 100% of the time.