What are y’alls thoughts on car value guides, like NADA, KBB, or Edmunds? As I mentioned in a previous post, I’m helping a friend look for a mid-size SUV and a common trend I’m noticing is they tend to run much higher than the value guides suggest. The Cherokee we looked at last night was listed at $2800, both Edmunds and KBB suggest it should be around $1100-1600 private party sale. That fell through and now he’s found a 1999 Nissan Pathfinder at a local mom & pop dealer. It looks clean and only has 119k miles, and they are asking $6000 for it. KBB, Edmunds, and NADA all suggest around $4000 for a dealer price.
Are values on these types of vehicles really that high? Or in the age of Craigslist is everyone pricing their stuff artificially high because they know the first offer will be 50% at best?