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The dealer will have a system that shows values from Black Book, MMR (auction values), JD Power (formerly NADA), and more importantly comparable vehicles for sale in the market. The dealer will look at the vehicle to determine reconditing needed, and all four of the above resources.
Hey y'all Just wanted your opinion on how reliable/trustworthy KBB is for determining used motorcycle prices. Whenever I'm comparing the prices people are asking for their used bikes on craigslist vs the values KBB spits out, craigslist prices are almost always at around double. Is KBB useful at all for determining a good price for used ...
In my experience, NADA seems to be the absolute worst in lower trade in values and higher retail prices. If anything KBB tries to say your car I'd typically worth more either private party, or you should at least be getting a higher margin on it. Not familiar with CoPilot, but my experience usually is KBB is more accurate
I just use NADA to determine cash values. That's what Insurance (i.e., Progressive) uses as well for cash value payouts. I purchased a '21 Ninja 400 with 2k miles for $5.1k, MSRP was $5.2k. Progressive gave me cash value on it last year at $6.3k. The used market still has not returned to normal. Look at Cycle Trader.
Depends on each dealer. My dealership uses JD Power values. The NADA value sounds more like a retail than trade in to me. KBB is usually higher as well, by a couple of thousand dollars usually, depending on dealership. I imagine other dealers are going to be conservative on values as well given the economy, especially on trucks.
I am looking at buying my first used bike (probably a Ninja 300/400) and wanted to know how to determine fair prices as listings can be all over the…
2016 forester xt premium, 38000 miles. Kbb trade in $15999 range is $15073-$16824. Salesman indicated that the 15900 was realistic initially. Edmunds is at $13309. Kbb condition rating selected as good Edmunds is average which I believe is similar to kbb good, but even bumping up to clean is $14039. Payoff is $143xx
NADA and Kelley Blue Book (KBB) don’t provide the same types of motorcycle values. The only values that can be considered similar amongst the two are NADA’s average retail value and KBB’s typical listing price. On many occasions, NADA’s pricing tool generates an average retail value significantly higher than KBB’s typical listing price.
KBB is a rough guideline for what a seller can expect to get out of a bike, as well as a rough value for insurance purposes. What you as a buyer are willing to pay is somewhat different. You may find the absolute perfect bike for you, and be willing to pay a premium for it.
So insurance had to appraise my bike based on the NADA value of my bike on November 7 2021, which at that time turned out to be $14,500 due to the inflated prices. State law mandates damages to be 75% of bike value before insurance can deem it "totalled", which comes out to be ~$10,800.