BenzWorld Junior Member
Date registered: Sep 2016
Location: Utah, USA
Mentioned: 0 Post(s)
Quoted: 2 Post(s)
Used car buying: KBB or NADA? Help!
Disclaimer: I have not bought a used car since 1996, when I bought a BMW 318i with "low original miles" that turned out not to be true because I discovered the owner had turned back the odometer. What a nightmare that was getting out of that mess. Needless to say, I have steered clear of the pre-owned market ever since.
However, with my VW TDI buyback imminent (sniff, I love that car) I am looking for a used vehicle to replace it (can't buy new since the wife just got a new '16 Durango in February). Right now I'm looking for a mid-2000s C-Class 4Matic on the "cheap" that I can drive for 6 months and then pass down to my teenage daughter and my sons who will follow her.
Regarding pricing of used cars, I'm not sure where to place my expectations: NADA or KBB. I found an '04 C240 4Matic with 97k on the clock that seems worth a serious pursuit, However, the private seller is asking $7,200 OBO, based on the $6,700 retail NADA price the bank told her (not sure why she thinks she can price it about NADA retail anyway). KBB private seller value, however, is between $4,400 and $4,800. Since I've seen no cars of this vintage with this mileage in my local market, I'm not sure which price is reasonable. I assume she's crazy to think she's going to get NADA retail, but am I crazy to expect to pay the KBB private seller price?
Any advice from those of you with used car buying/selling expertise?