Q: Price estimate - KBB vs. Edmond
I am buying a used car from third party. It's 2014 Ford Fiesta SE Hatchback with moon roof. It's automatic transmission and has about 40000 miles. When I got price estimates from both KBB and Edmond, each provides completely different estimate. According to KBB, $9075 is the fair price, but for Edmond, $7370 is the base price. Why do they have such a huge gab in the price? Which is more accurate?
When getting price estimates from these sites, know that they will vary widely depending on the criteria you put in and if you are looking for a trade-in value or a retail value. After looking into both of these sites, the KBB amount seems to be a high retail list price and might be the price a dealer would ask for the resale of a vehicle of this age and mileage. The Edmond price amount is most likely the price a dealer would give a trade-in if you went to purchase a car from them and wanted to trade in a car such as this one. If you are looking to buy this car from a private party, then I would expect something closer to the KBB price. If the seller of this car was trading the vehicle in at a dealer, then he or she should get something around the Edmond price.
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