There are so many ways to value your new car today we thought we’d compare the used car value services offered by Kelley Blue Book (KBB) and Edmunds, the two top resources in the space. We examined the similarities and differences in their approaches, data sources, and overall offerings, and then, in the end, we also provided recommendations on how best to use both of their offerings.
What is Kelley Blue Book (KBB)?
Established in 1926, Kelley Blue Book is one of the most recognized and trusted names in the automotive industry for determining vehicle values. It initially served as a pricing guide for used cars and eventually expanded its services to offer a wide range of resources for consumers looking to buy, trade, or sell their cars.
What is Edmunds?
Founded in 1966, Edmunds also began as a publication offering automotive pricing and expanded to include online tools for car buyers and sellers. It is highly regarded for its in-depth vehicle reviews, expert advice, and vehicle valuation services.
How do KBB and Edmunds offerings compare?
Both KBB and Edmunds provide services aimed at helping consumers and dealers determine the value of used cars. Here are some of the key similarities:
Vehicle Condition Considerations:
Both platforms require users to assess the condition of their vehicle. KBB offers four condition categories: Fair, Good, Very Good, and Excellent, while Edmunds provides five: Outstanding, Clean, Average, Rough, and Damaged.
This assessment plays a critical role in determining the final value, as more accurate condition reporting yields a more precise appraisal.
Used Car Valuation Tools:
KBB and Edmunds offer online tools allowing users to input their vehicle’s make, model, year, mileage, and condition to receive an estimated value. These tools provide various values, including trade-in value, private party value, and dealer retail value.
Proprietary Data & Methodology:
KBB and Edmunds both use proprietary algorithms to calculate vehicle values. These algorithms consider factors like the car’s make and model, regional market conditions, supply and demand, and recent transaction data.
However, both platforms are guarded about the specific data sources they use, though they both rely heavily on real-world transaction data and dealer reports.
How Do Kelley Blue Book (KBB) and Edmunds Differ?
While both Kelley Blue Book (KBB) and Edmunds are designed to help consumers and dealers determine used car values, they diverge in several significant ways. Here’s a breakdown of their distinct differences:
Range of Services:
- Kelley Blue Book (KBB): KBB goes beyond car valuations by offering a comprehensive suite of automotive resources. These include car listings for sale, car repair pricing, recall information, and safety tips. This breadth makes it an all-in-one platform for automotive needs.
- Edmunds: Edmunds focuses on delivering detailed vehicle reviews, dealer inventory listings, and expert advice for car buyers and sellers. It is more consumer-oriented, prioritizing in-depth guidance alongside vehicle valuations.
Value Categories:
- KBB: KBB provides an extensive range of value categories, including Trade-In Value, Private Party Value, Certified Pre-Owned Price, and Fair Purchase Price. It also features the “Kelley Blue Book Price Advisor,” which highlights fair price ranges with an intuitive, color-coded system.
- Edmunds: Edmunds offers similar categories but with fewer distinct options. It includes trade-in, private party, and dealer retail prices. The standout feature is the “Edmunds Suggested Price,” which provides a recommended price for buyers and sellers to aim for a fair deal.
Geographic Adjustments:
- KBB: Kelley Blue Book excels in regional-specific pricing. It uses data from over 100 geographic regions in the U.S., ensuring valuations are tailored to local market conditions. This emphasis makes it particularly accurate for localized pricing.
- Edmunds: Edmunds incorporates regional adjustments but places a greater focus on national trends and dealer transactions. This approach may not capture some of the finer nuances of specific local markets.
Data Sources & Update Frequency:
- KBB: Kelley Blue Book updates its data weekly, drawing from over 250 sources and billions of data points. This frequent refresh ensures that users receive the most current market insights.
- Edmunds: Edmunds updates its pricing data less frequently, relying on dealer management systems from around 5,000 dealerships. Additionally, its partnership with CarMax integrates real-world transaction data, enhancing its valuation calculations.
Detailed Reviews & Expert Advice
- Edmunds: Edmunds shines in delivering comprehensive vehicle reviews, expert insights, and guidance for car buyers and sellers. It goes beyond valuations to act as a one-stop shop for in-depth consumer advice, making it an invaluable resource at every stage of the car-buying journey.
- Kelley Blue Book (KBB): While KBB offers some consumer advice, its focus leans more heavily on valuation tools and broad automotive resources rather than detailed reviews or expert buying insights.
Instant Cash Offers:
- Edmunds: Edmunds simplifies the process of redeeming instant cash offers through its partnership with CarMax. This collaboration reduces dealership interactions, providing users with a quicker and more streamlined experience.
- Kelley Blue Book (KBB): KBB’s “Instant Cash Offer” program is comparable, allowing users to sell their vehicle or trade it in for credit. However, the process may require more interactions with participating dealerships compared to Edmunds.
Which Platform Should You Use?
Both KBB and Edmunds are valuable resources, but your choice depends on your specific needs:
- For comprehensive automotive tools and accurate regional pricing: KBB is the stronger option.
- For detailed reviews and expert buying advice: Edmunds stands out.
- For quick, reliable cash offers: Both platforms are equally effective, with Edmunds offering added convenience through its CarMax partnership.
SELL YOUR CAR ONLINE WITH KELLY BLUE BOOK (KBB)
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FAQS
Both KBB and Edmunds provide users with the option to receive an instant cash offer for their vehicle. For KBB, this is through the “Instant Cash Offer” program, and for Edmunds, it is done in partnership with CarMax.
These programs are designed to provide a quick sale option, where consumers can take their car to a participating dealer and get cash or trade-in credit based on the offer.
Kelley Blue Book’s KBB “Price Advisor” tool shows price ranges with color-coded zones indicating whether the price is fair. This makes it simple for consumers to understand if they’re getting a good deal.
Edmunds offers a straightforward valuation tool but focuses more on detailed reviews and vehicle recommendations. It provides more comprehensive advice for users looking not just to assess their car’s value but also to compare models and read expert reviews.
Kelly Blue Book is part of Cox Automotive, a large conglomerate that includes brands like Autotrader. This provides KBB access to a large pool of data and resources, contributing to its wide range of services.
CarMax, a leading used car retailer, owns Edmunds. This partnership allows Edmunds to offer its cash offers through CarMax, giving users a direct option to sell their vehicle to the retailer.
For Quick, Regional-Specific Pricing: Kelley Blue Book is likely the better option for those seeking localized pricing information, thanks to its robust regional data adjustments and extensive data points. Its proprietary Price Advisor tool makes it easier for consumers to gauge fair prices and ensure they aren’t overpaying.