Kelly Blue Book and NADA values....good indicators or not?
#1
Kelly Blue Book and NADA values....good indicators or not?
I'm looking for 91-93 C2 Cab and have found a few on eBay. One group called Victory Motors out of Texas have what appear to be fine cars. I like one in particular that appears to be in good shape. The problem is the asking price is $25,000 while both Kelly and NADA indicate "high" retail values at around 22,600-22,900. I know the basics of price and demand, I also know that it's only worth what someone will pay but are Kelly and NADA out of line?
Thanks for your thoughts!
Thanks for your thoughts!
#2
Two comments:
1) Do a search on all three topics: "Victory Motors", "NADA" and "Kelly Blue Book". it will give you a lot to chew on...
2) Porsches pricing tends to be all over the map on low-milage, excellent condition examples... Look up the RS America in Kelly/NADA, and then go look at the marketplace on "www.rsamerica.net". IMHO, Kelly/Nada are veyr good at assessing prices for high volume cars, but should only be used as a guide for more rare autos... Of course, one can always negotiate.
My $0.02,
-B
1) Do a search on all three topics: "Victory Motors", "NADA" and "Kelly Blue Book". it will give you a lot to chew on...
2) Porsches pricing tends to be all over the map on low-milage, excellent condition examples... Look up the RS America in Kelly/NADA, and then go look at the marketplace on "www.rsamerica.net". IMHO, Kelly/Nada are veyr good at assessing prices for high volume cars, but should only be used as a guide for more rare autos... Of course, one can always negotiate.
My $0.02,
-B
#3
cab purchase
their seems to be a lot of cabs out there for sell, which is in your favor but few coupes. that saying is its only worth what a buyer is willing to pay , to me kind of not true. if you say it worth 22k and the seller wants 25, if he not in a hurry someone will pay it. especially if the car is in great condition and has no issues.
these cars are getting rare as i see it ( especially coupes) and if you can find a good example car i would not loose it over a couple thousand dollars. no offense but if you want steak , better have steak money, otherwise a burger might be in order.
the 964 is a awesome car. and if you take a moment and look at it you can really apprecite the cars look and features. you get the traditional body with the mondern update at that time. just do not make like that anymore. i repeat they just dont make them anymore.
these cars are getting rare as i see it ( especially coupes) and if you can find a good example car i would not loose it over a couple thousand dollars. no offense but if you want steak , better have steak money, otherwise a burger might be in order.
the 964 is a awesome car. and if you take a moment and look at it you can really apprecite the cars look and features. you get the traditional body with the mondern update at that time. just do not make like that anymore. i repeat they just dont make them anymore.
#4
How many miles on the car you are interested in? What year? What is the sales tax in your state? Most states don't require tax on private sales. Buy from a private owner, and you save that.
$25,000 sounds about right as asking price for a later-model 964 with less than 100,000 miles and no major issues. Any cosmetic or mechanical blemish, and you have grounds to negotiate.
$25,000 sounds about right as asking price for a later-model 964 with less than 100,000 miles and no major issues. Any cosmetic or mechanical blemish, and you have grounds to negotiate.
#6
I just bought a used 2004 C4S cab. IMHO, you can get a good feel for price/value by searching a number of sites (Rennlist classifieds, autotrader.com, cars.com, ebay, etc.) to see what people are asking for comparable cars (mileage, options, etc.) I don't think NADA or KBB are always reliable indicators for a used Porsche.
#7
Nobody in the industry (Retail or Wholesale) uses NADA or Kelly books. The only people using them related to the industry are the banks, and they love a book that gives them low numbers.
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#8
I was just at my local exotic dealer and he pulled the book to see what a 964 cab should go for. He said anywhere from 14K to 21K. I sure as hell hope my car's worth more than 21K. I've only got 83K miles and pretty average maintance done to it.
#9
Victory is NOT a value added dealer most of their cars come right off eBay or auto trader or another site where they buy under one name and sell under their name at a substantial mark up. Do a search and draw your own conclusion but for my money I would shop elsewhere. I am a 964 fan too!
#10
"Nobody in the industry (Retail or Wholesale) uses NADA or Kelly books. The only people using them related to the industry are the banks, and they love a book that gives them low numbers."
Absolutely incorrect.....NADA, Kelly and Black book values are used at the wholesale and retail level - by sellers, buyers, and banks.......all based on their own selfish needs, and dependent on which region of the US they operate.
Absolutely incorrect.....NADA, Kelly and Black book values are used at the wholesale and retail level - by sellers, buyers, and banks.......all based on their own selfish needs, and dependent on which region of the US they operate.
#11
Thanks for all the words of wisdom. I did do a search on Victory which causes me some concern. The thing that attracted me to the car is that the seller indicates that he has all the service records, but some have written that this particular seller has bought records and stamps on ebay to "create" a service history...which concerns me.
I've put in a fair offer for the car. I've offered them above "high retail" for Kelly which to me seems fair. I never get emotional about any purchase so I'm apt to let this one pass. They listed the car at least one other time and failed to move the unit, I guess they don't care about carry cost (or time value of money) so they'll probably list it again. ...oh, and I'll bid the same for it again and exchange emails.
One thing I'd like to get is PPI, does anyone know of a good mechanic around Victory that could do this. I think I read in my search that the mechanic that Victory has just hired is talented, fair, and honest. I wonder if there is any chance I could get his name and number and talk to him about the car...
Thanks again!
I've put in a fair offer for the car. I've offered them above "high retail" for Kelly which to me seems fair. I never get emotional about any purchase so I'm apt to let this one pass. They listed the car at least one other time and failed to move the unit, I guess they don't care about carry cost (or time value of money) so they'll probably list it again. ...oh, and I'll bid the same for it again and exchange emails.
One thing I'd like to get is PPI, does anyone know of a good mechanic around Victory that could do this. I think I read in my search that the mechanic that Victory has just hired is talented, fair, and honest. I wonder if there is any chance I could get his name and number and talk to him about the car...
Thanks again!
#13
"Nobody in the industry (Retail or Wholesale) uses NADA or Kelly books. The only people using them related to the industry are the banks, and they love a book that gives them low numbers."
Absolutely incorrect.....NADA, Kelly and Black book values are used at the wholesale and retail level - by sellers, buyers, and banks.......all based on their own selfish needs, and dependent on which region of the US they operate.
Absolutely incorrect.....NADA, Kelly and Black book values are used at the wholesale and retail level - by sellers, buyers, and banks.......all based on their own selfish needs, and dependent on which region of the US they operate.
#14
Easy there Bob.....I'm sure you're a very successful car guy - with sage advise. I too made my living buying and selling cars nationwide.....lets not grapple over "black book" symantics. What I found flawed was your comment that "nobody uses NADA or Kelly". That comment is completely innacurate.......regardless of region. On a side note......banks make money by lending. Dealers will use the valuation that allows them to make the deal - both with the lender and the customer.
Queevox, good luck with your purchase.......be patient, be very careful (especially with Victory)......get an impartial inspection. I think that even with a perfect PPI, paying retail Kelly means you've paid too much for the car. There is no substitute - for putting your hands on the car BEFORE you purchase!
Queevox, good luck with your purchase.......be patient, be very careful (especially with Victory)......get an impartial inspection. I think that even with a perfect PPI, paying retail Kelly means you've paid too much for the car. There is no substitute - for putting your hands on the car BEFORE you purchase!
#15
Easy there Bob.....I'm sure you're a very successful car guy - with sage advise. I too made my living buying and selling cars nationwide.....lets not grapple over "black book" symantics. What I found flawed was your comment that "nobody uses NADA or Kelly". That comment is completely inaccurate.......regardless of region. On a side note......banks make money by lending. Dealers will use the valuation that allows them to make the deal - both with the lender and the customer.
At the Dealership we own, we don't even subscribe to Kelly or NADA, nor does any other Dealer I work with. As I said in my original post, banks use them to their advantage, and I'm fairly familiar with how banks make money, but thanks for the note.
Let me amend my rather abbreviated initial note so you can be comfortable Mitch.....NONE of the Dealers with whom we do business, in both the hi-line wholesale and retail markets nationally, use the NADA or Kelly Blue Books. That is my experience, no matter how often you say "that is completely inaccurate". Regarding the "Black Book", I'm sure you are aware that it is a completely separate publication from the other two, collecting data independently from them (no "semantics" here).
Enjoy your weekend!
Last edited by Bull; 02-02-2008 at 07:10 PM.