Everything You Need to Know About Edmunds Car Dealer Reviews (2023)

FAQs

Is Edmunds reliable for car reviews? ›

Is Edmunds reliable? Edmunds is a reliable company. For car appraisals and pricing, Edmunds is trusted and considered a tried-and-true industry standard alongside Kelley Blue Book and NADA.

Are Edmunds Values Accurate? Edmunds True Market Value tool is considered to be fairly accurate for new cars. However, most dealerships do not use this tool as a reference point. It may be worth bringing up an estimate in private sales, though, as many consumers are aware of the authority behind the Edmunds brand.

Edmunds.com Inc.

(stylized as edmunds) is an American online resource for automotive inventory and information, including expert car reviews based on testing at the company's private facility. The company is headquartered in Santa Monica, California, and maintains an office in downtown Detroit, Michigan.

Who we are. With over 50 years of experience, Edmunds is the trusted guide in car shopping. Our website has in-depth video reviews, new and used listings, free appraisals, and calculators that verify a good price. Shoppers count on us at every step of their journey.

Edmunds: This website offers an appraisal engine that includes five car condition categories compared with KBB's four. This can be helpful—or generate confusion—depending on how realistic you are about your car's condition. Many experts believe Edmunds' values are more accurate than KBB's.

CarWale is the best website to determine the value of your used car since we use data from millions of genuine buyers & sellers across the country in our pricing models to determine the most accurate prices for your used car.

Kelley Blue Book and Edmunds both offer very good general reference information when it comes to current market conditions and price levels for a particular make and model used car or truck.

There is good news on the horizon in 2023, however. J.P. Morgan estimates that prices for both new and used vehicles are set to decrease as supply chain issues abate and inflation is poised to keep easing. Per the financial firm, new vehicle prices are slated to go down 2.5-5% while used cars may go down by 10-20%.

KBB prices are based on list/advertisted prices, whereas Edmunds TMV is based on sales transaction data. Since cars generally sell for less than the asking price, Edmunds prices are lower.

Who is Edmunds funded by? ›

Who invested in Edmunds ? Edmunds has 3 investors including Brooklyn Bridge Ventures and Future\Perfect Ventures .

We look forward to supporting and investing in Edmunds' continued growth and are excited about the many opportunities ahead for both CarMax and Edmunds.” In January 2020, CarMax invested $50 million to acquire a minority stake in Edmunds.

CarMax president and chief executive officer Bill Nash said “The instant offer products on Edmunds.com and CarMax.com have put CarMax in the position to become the largest online buyer of used autos from consumers.” So not only are dealers competing with CarMax for pre-owned sales but they are vying now more than ever ...

The Edmunds Suggested Price is what we recommend you pay, not including taxes or fees. It is based on our analysis of millions of data points, including supply, demand, incentives, options and recent nearby transactions. It estimates a vehicle's average transaction price, not its "out the door" cost.

Consumers Reports is the go-to source for unbiased car ratings. According to this trusted organization, the most reliable cars for 2021 are from brands such as Audi, Buick, Hyundai, and Toyota.

Lexus ranks highest overall in vehicle dependability, with a score of 133 PP100. Other premium brands ranking high for vehicle dependability include Genesis (144 PP100), Cadillac (173 PP100) and BMW (184 PP100).

CarMax advertises “no-haggle” pricing, and it does not offer price matching or negotiation on any car purchases, sales or trade-ins. Does CarMax financing require a down payment? A down payment isn't required for financing at CarMax, but making a down payment when buying a car is a good idea.

With a reputation for delivering concise and reliable information on vehicle quality, safety, and performance, Consumer Reports provides thorough reviews on all types of cars, trucks, and SUVs.

Best Places To Sell a Car Online: Top Picks

We found that the best places to sell your car online are Cars.com, Peddle, Carvana, CarMax, CarGurus, and Vroom. These sites all provide instant cash offers for your vehicle and are free to use.

What is the most dependable car brand? Here are the brand rankings based on the number of problems per 100 vehicles, according to J.D. Power's 2023 U.S. vehicle dependability study. The industry average is 186. The highest-ranking premium brand was Lexus, and Kia was the highest-ranking mass market brand.

Which car brand lasts the longest? ›

KBB factors in the condition of the vehicle, local market conditions, and popularity of the vehicle, so their prices tend to be a lower than NADA. NADA values tend to lean higher because they assume cars are in good conditions. Insights can be gained from both values, but KBB looks at more factors.

Take the true new car cost then add 3-5% of the value to it. This value is what you should offer your dealer. For example: The sticker price (MSRP) of your dream car is $40,000. The factory invoice price is $38,000.

Americans planning to shop for a new car in 2023 might find slightly better prices than during the past two years, though auto industry analysts say it is likely better to wait until the fall. Since mid-2021, car buyers have been frustrated by rising prices, skimpy selection and long waits for deliveries.

Conclusion: Is 2023 a Good Time To Buy a Car? Considering vehicle prices are still inflated and loan rates may be on the rise, it's not the best time to buy a car. However, auto prices may continue to level off during the rest of the year, which would be a good sign for car buyers.

According to industry analysts from Cox Automotive and J.D. Power, some automotive market conditions are likely to improve in 2023, but perhaps not enough to trigger radical change. "We certainly do expect the market to get better than it's been," says Tyson Jominy, vice president of data and analytics at J.D. Power.

edmunds.com Top 7 competitors

kbb.com, with 23.6M visits, 85 authority score, 52.04% bounce rate. cars.com, with 39.6M visits, 83 authority score, 50.07% bounce rate. carfax.com, with 32.7M visits, 81 authority score, 57.80% bounce rate.

Edmunds's competitors and similar companies include AutoWeb, CarGurus, Cars.com, Kelley Blue Book, PureCars, Auto Trader and Autocheck. Edmunds is an online resource for automotive information.

The main purpose of the Edmund's Used Car Prices is to: provide current used-car prices.

How many employees does Edmunds have? ›

We are a privately held company with approximately 550 employees. Learn more about our Editorial team and our culture at here.

In 2020, Edmunds generated unaudited revenue of approximately $140 million.

Edmunds Holding Company Inc revenue is $190.0M annually.

CarMax does buy old cars. In fact, they claim that they will buy any car, regardless of the vehicle's age or mileage. You'll need the following documents to sell your old car to Carmax: Title.

Q: Does CarMax buy cars for a fair price? A: Our appraisal team takes into consideration a wide range of factors, including market trends, to make sure we give you the fairest price possible. If you need to think about the offer, that's fine.

The concept for CarMax was developed by Circuit City executives under then-CEO Richard L. Sharp. It was developed for nearly a year in 1991, using the code name "Project X", and was also known as "Honest Rick's Used Cars" to those intimately involved in the skunk works team.

Edmunds is a reliable company. For car appraisals and pricing, Edmunds is trusted and considered a tried-and-true industry standard alongside Kelley Blue Book and NADA. While NADA is preferred by banks and industry professionals, Edmunds is straightforward, easy to use and designed with laymen in mind.

Are Edmunds Values Accurate? Edmunds True Market Value tool is considered to be fairly accurate for new cars. However, most dealerships do not use this tool as a reference point. It may be worth bringing up an estimate in private sales, though, as many consumers are aware of the authority behind the Edmunds brand.

CarMax will buy most cars, even old cars that don't even run. However, these cars will need to be towed to a CarMax store for an appraisal. CarMax will even buy cars that they don't expect to sell, such as badly damaged vehicles, that they will sell to auction.

How much lower is dealer invoice than MSRP? ›

Depending on the car company, dealer holdbacks might range between 2 and 3 percent of the invoice price or the manufacturer's suggested retail price. That can add up to more than $1,000, depending on the cost of the car.

Dealers often advertise car sales as some amount “below MSRP.” In fact, very few vehicles are sold at MSRP. A price below MSRP isn't necessarily a great deal, though it's a good place to start negotiations. Here are five tips for negotiating a car's price.

In terms of the best time of the year, October, November and December are safe bets. Car dealerships have sales quotas, which typically break down into yearly, quarterly and monthly sales goals. All three goals begin to come together late in the year.

Consumers Reports is the go-to source for unbiased car ratings. According to this trusted organization, the most reliable cars for 2021 are from brands such as Audi, Buick, Hyundai, and Toyota.

What is the most dependable car brand? Here are the brand rankings based on the number of problems per 100 vehicles, according to J.D. Power's 2023 U.S. vehicle dependability study. The industry average is 186. The highest-ranking premium brand was Lexus, and Kia was the highest-ranking mass market brand.

Overall, the models determined to hold onto their values the most tenaciously among all 2023 vehicles after five years handily beat the industry average. These include the Toyota Tundra (73.3%) and Tacoma (66.0%), Tesla Model X (66.0%), Ford Bronco (65.4%), and the Chevrolet Corvette (65.3%).

What is considered high mileage on a car? Often, 100,000 miles is considered a cut-off point for used cars because older vehicles often start requiring more expensive and frequent maintenance when mileage exceeds 100,000.

What company makes the least reliable cars? ›

Toyotas are generally considered to be highly reliable vehicles. They often top lists of most reliable cars, are said to last longer than nearly any other brand, and rarely break down. If you're looking for reliability, Toyota is hard to beat.

In 2022, Consumer Reports' satisfaction survey found Lincoln and Buick to be the most reliable American car brands, ranking tenth and eleventh several behind Japanese brands. We scoured several consumer watchdogs and independent review authorities, and here are ten tough and reliable American cars.

Consumer Reports' annual Auto Reliability Survey shows the 2023 Corolla Cross crossover SUV is the most reliable Toyota car. For the most recent Auto Reliability Survey, CR collected owner surveys for more than 300,000 vehicles over the previous year.

BMW, Subaru, Lexus, and Honda routinely land in the top ranks by delivering on these virtues, from their base models to their high-end vehicles.

The sales data compiled by respected provider of market and consumer data, Statista – and was sourced from new-car sales figures in 162 countries. Toyota continues to dominate the global new car market with four of the top-10 selling models globally.