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Has anyone ever used Edmunds TMV for price negotiations? Edmunds claims it's the holy mantra of what to offer for a car.
I am not seeking "opinions" on this matter. I am seeking first hand experiences. Did you PERSONALLY ever used it and it works? Or it's so much low balled that you are considered a loon and asked to leave?
LOL You can use it, but it's not one that dealers go by, so the only time it may be of value is for private party negotiations and the other person doesn't know much about buying/selling a car.
Black Book, Blue Book, and NADA are the only ones that have any weight.
New or used? I just checked again on the new car we just bought, 2013 Equinox, MSRP is $33,675, TMV is $32,635, and our price was $31,990 through our credit union w/o negotiation. After rebates we paid $30,490. So in my experience, it was a higher price than what we paid. I did look at every price I could find, edmunds, cargurus, carproshow, KBB to see what prices were considered good, and they were all at or higher than my price.
I used edmonds in buying my 2008 honda van. After the sale the salesman showed me the dealer invoice price which doesn't include holdback dealers get at end of year and invoice was exactly the same . I got it below invoice but at a time when Honda was giving dealer incentives which means they get more moneON SALE.. I also got a customer incentive on at that time of interest rate of 0.9%.
You're better off going with a car buying service through your CU or truecar/carsdirect. Edmunds TMV takes into account any sucker that walked in to pay full MSRP.
Edmunds TMV was $3K higher on the last car I bought.
I would use it as a guide, just like the "values" which other sites offer too. Usually I research values across a number of sites and come to my own conclusion as to what I am willing to pay. I would not go in with just a number from one site, or mention to the saleperson the source or reasoning that I am gunning for a certain price. It could cost you the opportunity at a better deal.
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