I noticed KBB is usually always on the high side. I recently sold a 2008 Honda CR-V EX with 32xx (yes 3k) miles. KBB estimated private party value between 21,200 (fair) and 23,200 (excellent). Of course the vehicle was in pristine condition with no damage, waterspots, or swirls. However American Honda is currently clearancing their new 2010 models so it was impossible for me to expect KBB's "good" and "excellent" values.
It lists retail value at $25.7k for a Prius IV w/ Solar @ 16k miles. Not too far off, but it is a bit optimistic considering the abundance in the marketplace.
So are you guys saying my good conditon prius II with 23,000 miles is not worth. 17,000 trade in 19,000 private party value
Agreed. Some manufacturers (like BMW) use KBB when stating they have the best resale value, but don't use it to value trade-ins. Many dealers use the latest auction values (like Manheim) since that's an alternative used car source for them. My experience is if you take the average of KBB, Edmunds and NADA, you'll get a good feel for the true value. And for a trade-in, forget about the value for "excellent" condition (or whatever the highest is). They'll always say the need to spend money to prep the car before selling it.
