CBS Reports SUV Values Down And Confirms Guides Like KBB And Edmunds Inaccurate

For years, we've been saying that you are out of your mind, if you take the true wholesale values as truth from guides like KBB and Edmunds.

We've proved it over and over in articles and now CBS News is finally confirming what AutoSpies.com readers have known for quite some time.

The markets have been so volatile, hence, their numbers are EXTREMELY inaccurate because their updating system does not react fast enough and they have poor data for cars on the high end.

Especially new models traded back into the marketplace soon after they are released.

Cars like the BMW M5, Bentley's or any other speculator's cars, just for example.

And even on low end cars like the Hyundai Sonata

See article

Edmunds Hyundai Sonata True Market Value

The Spies say SPY before you BUY or it may cost you!

Click here to see the CBS News video

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sector - 5/9/2008 10:07:51 PM

+2 Boost

Looks like a new era in motoring has begun. Soon SUV drivers will be looked upon as few brain cells short of Neanderthals and all the Fit, Yaris, Focus, Prius drivers will be those that have "evolved".

EnnNorak - 5/10/2008 12:56:03 AM

0 Boost

Savvy dealers rely more on auction reports with actual auction prices for their area. Beware of dealers who show you phony reports that undervalue your trade. Best to sell your old car yourself and negotiate a cost plus deal with the dealer.

Dutchman - 5/10/2008 10:03:28 AM

+5 Boost

Edmunds this morning says trade in for an 07 H2 with 1000 miles is $42,350. Manheim auction data has the car not being sold for more then $37,000. My friend was angry because I am in the car business and he doesn't want to believe he owes 12,000 more then his car is worth....guess what next month it could be $35,000 at Manheim and he'll owe 14,000. But hey he was a smart shopper he got a great discount....fool.

t_bone - 5/10/2008 5:07:04 PM

0 Boost

Supposedly new sales of SUV's are down 1/3. That makes 1/3 of these people are possibly not stupid.

But when you see a brand-new SUV with cardboard plates...clearly a moron.

TTRaceRR - 5/10/2008 10:50:32 PM

+1 Boost

I'd rather ride my bike than be seen in a Prius!

bfghemicuda - 5/16/2008 8:27:25 PM

+1 Boost

Hey coprius, A good percentage of rich $ wealthy that drive gas guzzlers are Democrats like Obama, Gore, Pellozi, Harry Reid etc. Oh and by the way they have private jets......Gee I wonder how much fuel they use.
Democrat Hypocrits

moto - 5/9/2008 10:26:03 PM

+4 Boost

Well, there are Neanderthals who think that the price of a vehicle should be directly proportional to its weight.

Nice to see reality kick in -- the price of a vehicle declines when people finally realize that they are money pits to operate.

enthusiastx11 - 5/9/2008 10:29:32 PM

+4 Boost

good. this is exactly what people who drive these HUGE vehicles deserve. especially since every other hummer, suburban or expedition i see is empty except for the driver.

toolatetorace - 5/10/2008 10:13:57 AM

+4 Boost

.........and talking on a cell phone

cdoke - 5/9/2008 10:52:52 PM

+2 Boost

"Especially new models traded back into the marketplace soon after they are released. Cars like the BMW M5, Bentley's or any other speculator's cars, just for example."

I hate to be a contrarian, but the average Bentley owner has their car from between 8-10 years (often longer for Arnage owners- such is the result of having a car that has timeless styling- and having several other cars to drive), and last I knew KBB didn't have entires for Bentleys because they are too low volume.

cdoke - 5/9/2008 10:59:05 PM

0 Boost

"...for Arnage owners"

Well, I misspoke. I mean the real Bentleys (Mulsanne, Azure Arnage, Old Continental series) not the cheaper Continental GT and Flying Spur. The Arnage, as such, has only been produced for around 10 years.

610looper - 5/10/2008 1:08:40 PM

+1 Boost

Oh no, not CBS again...

Htay7500 - 5/10/2008 3:03:51 PM

+1 Boost

thank god I don't own a useless behomoth.

chuck2oonz - 5/12/2008 5:10:02 PM

+2 Boost

sadly, I don't think the issue is as clear cut as neanderthals drove SUVs... People really seem to like big cars in the U.S. and the only reason they'd stop driving them is that they simply can't afford the gas. I don't think we've 'evolved'. If gas prices dropped by $1.50 tomorrow (which they won't but for argument's sake) they'd bounce back right away..