KBB Price Increase Redux
01-04-2011, 09:17 PM
#1
KBB Price Increase Redux
A while back a member here on RL convinced KBB to revise their pricing on 993s.
It worked and their published prices changed dramatically.
I guess my insurance company realized it too. They raised the premium on my 993 (and none of my other cars.)
Kind of good and bad. For settlement purposes, it's good to have a higher KBB price. But then premiums might change, too (as mine did.) For resale it means nothing since we all know the market determines the pricing.
Even though I feel a lot better having a higher KBB price in case I ever need to make a claim on a total loss, now I'm going to be paying for that higher price
It worked and their published prices changed dramatically.
I guess my insurance company realized it too. They raised the premium on my 993 (and none of my other cars.)
Kind of good and bad. For settlement purposes, it's good to have a higher KBB price. But then premiums might change, too (as mine did.) For resale it means nothing since we all know the market determines the pricing.
Even though I feel a lot better having a higher KBB price in case I ever need to make a claim on a total loss, now I'm going to be paying for that higher price
01-06-2011, 12:44 AM
#2
Rennlist Member
I still think they have a long way to go to be accurate. Here is a 1997 C2S with 38K miles. Private sale
Vehicle Condition Ratings
Check Vehicle Title History
Excellent
$35,675
* Looks new, is in excellent mechanical condition and needs no reconditioning.
* Never had any paint or body work and is free of rust.
* Clean title history and will pass a smog and safety inspection.
* Engine compartment is clean, with no fluid leaks and is free of any wear or visible defects.
* Complete and verifiable service records.
Less than 5% of all used vehicles fall into this category.
Good
$34,575
* Free of any major defects.
* Clean title history, the paints, body, and interior have only minor (if any) blemishes, and there are no major mechanical problems.
* Little or no rust on this vehicle.
* Tires match and have substantial tread wear left.
* A "good" vehicle will need some reconditioning to be sold at retail.
Most consumer owned vehicles fall into this category.
Fair
$32,775
* Some mechanical or cosmetic defects and needs servicing but is still in reasonable running condition.
* Clean title history, the paint, body and/or interior need work performed by a professional.
* Tires may need to be replaced.
* There may be some repairable rust damage.
Vehicle Condition Ratings
Check Vehicle Title History
Excellent
$35,675
* Looks new, is in excellent mechanical condition and needs no reconditioning.
* Never had any paint or body work and is free of rust.
* Clean title history and will pass a smog and safety inspection.
* Engine compartment is clean, with no fluid leaks and is free of any wear or visible defects.
* Complete and verifiable service records.
Less than 5% of all used vehicles fall into this category.
Good
$34,575
* Free of any major defects.
* Clean title history, the paints, body, and interior have only minor (if any) blemishes, and there are no major mechanical problems.
* Little or no rust on this vehicle.
* Tires match and have substantial tread wear left.
* A "good" vehicle will need some reconditioning to be sold at retail.
Most consumer owned vehicles fall into this category.
Fair
$32,775
* Some mechanical or cosmetic defects and needs servicing but is still in reasonable running condition.
* Clean title history, the paint, body and/or interior need work performed by a professional.
* Tires may need to be replaced.
* There may be some repairable rust damage.
01-06-2011, 11:33 AM
#7
Burning Brakes
A while back a member here on RL convinced KBB to revise their pricing on 993s.
It worked and their published prices changed dramatically.
I guess my insurance company realized it too. They raised the premium on my 993 (and none of my other cars.)
Kind of good and bad. For settlement purposes, it's good to have a higher KBB price. But then premiums might change, too (as mine did.) For resale it means nothing since we all know the market determines the pricing.
Even though I feel a lot better having a higher KBB price in case I ever need to make a claim on a total loss, now I'm going to be paying for that higher price
It worked and their published prices changed dramatically.
I guess my insurance company realized it too. They raised the premium on my 993 (and none of my other cars.)
Kind of good and bad. For settlement purposes, it's good to have a higher KBB price. But then premiums might change, too (as mine did.) For resale it means nothing since we all know the market determines the pricing.
Even though I feel a lot better having a higher KBB price in case I ever need to make a claim on a total loss, now I'm going to be paying for that higher price
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01-06-2011, 11:35 AM
#8
Burning Brakes
01-06-2011, 11:45 AM
#9
Racer
Wow!! They really have brought the values up. My 95 was worth about $13K according to KBB when I bought it last summer for $19k now it's showing a value of about 23.5 retail.
My insurance required an appraisal which put a replacement value of 27 on it.
My insurance required an appraisal which put a replacement value of 27 on it.
01-06-2011, 12:33 PM
#10
Rennlist Member
I hope TXDOT don't catch wind of this too. When I bought the car I paid tax on the presumptive value of the 993 ie $14K. Had it been KBB value or market value it would have been 2.5x more.
Last edited by CorrdoBrit; 01-07-2011 at 12:58 AM.
03-04-2011, 08:29 AM
#12
Rennlist Member
Funny, I just plugged in my 98 C2S... The values are at least realistic now, however I plugged in the same info for a C4S and they valued it $9k higher!!!!! I guess we now know where KBB stands on the whole "are C2S worth more than the C4S" debate
