Bluestreak2006 wrote:The offer was on trade, I'm not convinced that carmax could come remotely close to that. Matt, is the auction average what the dealer calls a black book price?
No, Black Book is a tool that is updated very frequently and used to set a particular value for a trade-in or used car. This is also a tool that we will use to know how much a preowned cars value is for loans.
The auction values are real time. Meaning I can go onto the auction sites and see what your exact (or as close as possible) car, color, trim, option, accessory, etc car sold for.
The auction values are going to be the strongest determining factor with a trade-in value because it lets us know what we can sell the car for.