Edmunds MyAppraise Trade-In Tool

Edmunds True Market Value

When you are deciding on whether or not to purchase an item - particularly a big-ticket item like a vehicle – it’s good to know what other people are paying for similar products in the area you are purchasing in. This means that you can start your buying process at a reasonable price without worrying about worrying about paying too much. Similarly, you may want to know the current going rate for a car you plan to sell.

When buying or selling a car, the Edmunds True Market Value pricing system is particularly useful because you can find out whether or not the deal you are being offered is actually a good one for you. The True Market Value system is excellent because it uses real purchases that have processed recently to determine the market value of cars in your area. It is also independent from Lee’s Summit Subaru, so you can be assured of impartiality.

By looking at the True Market Value price, you can look at a quote or negotiation with more information. This can put you in the driver’s seat of the negotiating process. Edmunds can also help to determine the trade-in value of your current car. Furthermore, the True Market Value is not limited to businesses; it can also be used by private buyers and sellers in everyday car transactions.

How Does the Edmunds Appraisal Tool Work?

The True Market Value tool bases its price on specific cars, so you can input a car’s trim, specifications, model, and other options to get specific details about the price you should be paying. You must be careful to put the correct information in or you might get inaccurate results.

When the True Market Value of a new car is presented by Edmunds, it is presented alongside the car’s manufacturer’s suggested retail price (MSRP) and the car’s invoice price, which is a rough estimate of what the dealer bought the vehicle for. Used car information is presented slightly differently.

The True Market Value is a must-have piece of information if you are considering buying or selling a car because the value of a particular car is not static. Depending on a variety of factors, the price of a car might fluctuate, so it is important to know what a reasonable price is at any particular time. Knowing this information will not only reduce anxiety during the negotiation phase, but it can also help you pick a car that is right for you.

What is included in True Market Value?

The Edmunds True Market Value of a car does not rely on the “out the door cost,” instead focusing on the actual price that buyers have paid for the car. This includes dealer fees, destination fees, and other miscellaneous fees that may apply.

That being said, Edmunds does not include any extra fees (sometimes known as incentives) that are applied after the agreed-upon transaction fee has been set. This means that rebates, bonus cash, sales tax, DMV/state registration fees, and other extra costs do not get factored into the True Market Value of a car.

Using the True Market Value When Buying or Selling a Vehicle

The Edmunds True Market Value tool is valuable for anybody looking at buying a brand-new car or for a Used-Car Appraisals. Edmunds’ Appraisal Tool is an accurate form that provides a relevant price for the value of a car, and aids in helping you either save money in the purchase of a new car or make money in the sale of your car.

When you are looking to purchase a new car, having the True Market Value makes it significantly easier to enter into negotiations with any dealership since the True Market Value Tool can provide an accurate bottom number price. When you’re looking for an accurate value, make sure you include all options and styles you plan on looking for.

Once you have that number, you can either use it after a few back-and-forth rounds of negotiations to achieve your price negotiation objective, or cut to the chase before any negotiations occur and explain to the seller the research you’ve done and your bottom number. This approach can save a significant amount of time as you search for a win-win situation. If you are using this information as a negotiation tactic for a private sale, it is encouraged that you print it out or have it readily available on your phone.

It should be prefaced that although the True Market Value Tool is accurate, it is not guaranteed that the seller will match the price you’re asking for, particularly in private sales. There are times when the information provided by the tool may be mistaken. This is due to the fact that not all the information may have been provided, or is just missing. There are also times when trends are not accounted for. If this ends up being your situation, it is recommended that you do additional research to aid in your negotiations.

Edmunds Appraisal Tool for Trade-Ins

If you are looking to trade in your car, the True Market Value Tool can be utilized to help you achieve a higher trade-in value. You will be asked to share the make, model, year, mileage, and condition of your car. The tool will also include pricing for cars that were certified pre-owned vehicles.

It is recommended that if you are selling your car privately to price your car a little higher to leave room for downward movement during negotiations. If you are looking to buy a car, the reverse is the same, start a little lower, so you have room to move up.

When you are looking for an accurate trade-in value, make sure to be honest about the condition of the car and the options included. Nearly all cars are considered to be in ‘average’ or ‘clean’ condition. The title of ‘outstanding’ is reserved for very few situations and should be selected accordingly.

The better the data you provide in the tool, the closer you will be to an accurate number.