Edmund used car value is used a lot when trying to determine the worth of a used car. It is one of the most popular methods of valuing used cars and some even refer the Edmund used cars value as an authority.
The website of Edmund used car value states that the company was established in 1966 to be able to publish pricing guides regarding new and old vehicles in order to assist those who are seeking either to buy or sell a car. The website has been online for the past 16 years. There are no printed version of the Edmund used cars value guide unlike other major value guides like NADA and Kelly Blue Book. It is also not yet clear how Edmund used car value is collected and analyzed to bring it into the form of a guide. Moreover, you will also not find many dealers or financial institutions using Edmund used cars value for appraising trade in values.
One of the problems with Edmund used car value guide is the fact that the figures contained into them tend to be inflate. Both Edmund as well as Kelly Blue Book favor the deal with their higher retail values and lower trade in values. A lot of dealers actually use the Blue Book for cars; however, this number is still pretty small as compared to NADA book value.
When using an Edmund used car value, you need to remember that the price and value are two different things. Where price is the amount you will have to pay or will receive when buying/selling a car, value is something which is perceived. An Edmund used car value is no definite price and ultimately the market forces decide the price. They are just a form of guidelines for helping potential buyers and sellers.
The author of Edmund used cars value guarantees and unbiased opinion regarding used cars and this is one of the best things about Edmunds. They do a very good job on new car pricing, much better than for used cars.
Hence, if you are in search for a quote regarding a particular vehicle, it would be highly recommended that you get the quote using the official website of Edmunds whether you are looking for a new car value or an Edmund used car value. You should also refer to some of the other value guides so get a solid average price.