How do you arrive at fair value on your used car listings?
I am looking at your 2007 Bentley convertible offered at Bentley Motors of
Greenwich CT - shown to be priced at about $4900 over fair value
It's based on the features the cars has, the miles, age, and other cars like it are available for sale nationwide. If you are not sure about the value, check NADA or Kellybluebook. I personally like NADA because Kelly blue book doesn't consider supply/demand or what other cars are for sale like it. Example is a 2013 CX-5 mazda I had. The value kelly blue book gave was 11,000 private party in good condition. The car in 'good condition' for sale at both dealers and craigslist were around $14,000 so it was completely off.
Something along these lines:
I realize that BlueBook, NADA, and Edmunds are typical sources for popular used cars with enough activity to arrive at a "market price". I pointed out earlier that a 2007 Bentley with 18,000 miles on it is much more difficult to value - with very little historic market activity. So I am still puzzled as to how CarGuru arrives at below/above "fair value"
I agree with your previous answers. Ultimately it depends on what you're willing to pay but the seller is willing to sell the car for. Remember they made more than one.
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