I posted this in the Campfire section but thought i'd try posting it here too.

How valuable of a tool are these 2 books when it comes to purchasing a vehicle? Are they accurate enough to use when making an offer?

I'm looking at a pickup that is considerably over priced (by at least $5500) compared to the book values i've come up with using the info on the truck from their website.

Used values are really tough to peg, especially in AK where prices seem to run much higher than blue book. If you're looking at a used vehicle from a dealership, expect it to be much higher than blue book, private sale a bit higher.

And then there are some people that haven't a clue and ask way more than their vehicle is worth.

If you're looking at a $40k blue book and they are asking $5500 more and have a bunch of upgrades, might not be unreasonable. If KBB is $4500 and they are asking $10k, I wouldn't even bother calling them.

The truck I was looking at is in Seatlle and it a 1997 Ford F250 CC SB with the 7.3 Powerstroke and has 103k miles on it. They are asking $18,950, which is approximately $7k over KBB. A bit high IMO.

It boggles my mind the resale on diesel trucks. I got my 2006 ram cummins new for $32k, and eight years later the blue book is right around $20k.

The reason I bought the truck new is there was no way I was going to pay $20k for a used truck with 100k on the odo. $12k, maybe $15k, but no way I'd pay anywhere near $20k.

If you get a chance, check out the Northwest Motorsports website, they have a lot of nice trucks but are mostly way overpriced.

I'm a patient guy and can wait for the right truck to come along up here.

Hopefully this will be the last truck I ever have to buy.

It definately pays to be patient, have cash in hand and know what you want so when the right deal comes along you can jump on it.

Exactly my plan.

I look at KBB as another data point. Useful in that it provides a number to argue around, but not much more than that.

KBB considers condition, mileage, options, etc. "Condition" is a pretty relative thing, but it helps.

There are a lot of L48 dealerships that advertise in AK craigslist. I can only assume that they do it for entertainment purposes. I find stuff like this pretty entertaining.

It is interesting that before the "average Joe" had access to these sources, they were the "gospel", now the car salesman tell you "oh, that trade in value or whatever doesn't really matter"

Some trucks command a premium, this is one of them.
Low mileage p/s is very much in demand.

Not sure what the metal looks like on trucks in Alaska after 27 years but I know here they can look new with paint but brake lines and fuel lines, a little fur on the frame and some dry as a fart suspension components add up pretty quick. ESPECIALLY if it was only driven 4K a year.....

Would rather take a 2007 and pay another 10.... JMO

W

Yup.

Around these parts, here is how to use those books:

Go to the dealer that has the used vehicle you want. Look up "high book" or "retail" on it. Now look up "low book" or "wholesale" on your trade. Subtract.

That's why there's Craigslist........ to get somewhere in the same universe of what your trade is actually worth in the current marketplace.

As in all retail businesses, a dealer has to buy low, sell high to stay in business. He can't give you top price for your trade-in because he can't mark it up enough to make a buck. You'll almost always get more selling it yourself. I have an advantage in that I live on a busy highway. I have many times put something out front with a sign and sold it. In fact, I have never failed to sell something that way. A number of times, we've had some junk to haul to the dump. I'll set it out there with a FREE sign and it's gone by morning.

Yeah. I got that and I'm all for it. It's the American way.

But I'm old enough to remember when a dealer worked off the same line in the book for his vehicle as he did for your trade......... given the conditions of both vehicles are similar. If you want "high trade-in" for your trade that's fine. But expect to have that considered against "high retail" on the dealer's vehicle. Likewise if you insist upon low-balling the dealer's asking price into wholesale range, you could expect to receive wholesale for yours on trade.

Few weeks ago I stopped by a reputable & respected local used car dealership. Was looking to trade an '05 Expedition with good miles in very good condition on an '04 Tahoe with lower than average miles and in similar condition to my Ford. Their asking price was very nearly high retail. what I was offered on trade was rough trade-in or a bit below. That has just become general practice around here anymore.

KBB always seems high to me and I prefer NADA but I am not sure if there is a big difference. It comes down to the simple fact that it is worth whatever somebody will pay for it on that particular day. Good luck.

My local dealers refuse to acknowledge KBB or NADA as baselines for trading or buying, and refer to a "blackbook" that they use for pricing.

As a result, I have not bought anything from them.

The black book that dealers use seems to somehow value your trade as being worth squat and their vehicle as having gold plating on it.

I decided to pass on the truck, as much as I like the truck, it's just too much money IMO. This is the truck in question.