Which one usually is usually closer to the actual trade-in value, NADA or KBB? Everytime I have looked up something, there is usually a big difference between to two.

 

Niether one is close to reality, but you can use Edmunds TMV guide and get real close.

http://www.edmunds.com/tmv/used/index.html

 

My experience is that loan officers will go by NADA value when authorizing a loan amount. Dealer will go by KBB for trade in values.

 

Correct most banks will use either NADA or clean wholesale for loan values, but that has nothing to do with true market value.

 

That makes for sense (for the dealer). KBB is always lower.

 

I work at a dealership and KBB,Edmunds,... still are not what the dealership allows for trade value. Usually the it is the lowest value you can find minus about 1000-2000.

 

"actual cash value" A figure the dealer doesn't want you to see or know about! If trade is worth keeping and selling on their lot within 30 days. if not goes to an auction where they still should make money!

 

Well I found out today that the trade in can very greatly depending on how bad they want to sell you a car.

By the end of today the offer on our trade in had gone up over $2K.

I guess you just gotta know how to play the game a little.