Edmunds.com Defender Value Estimates = Total Crap - Defender Source
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  #1  
Old October 24th, 2013, 09:06 PM
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Edmunds.com Defender Value Estimates = Total Crap

So today I was reading a NYTimes article on classic car insurance

A Year After Sandy, Collectors Consider the Lessons

http://www.nytimes.com/2013/10/20/au....html?hpw&_r=0

and realized I hadn't recently looked up what Edmunds.com and Kelly Blue Book KBB value our trucks at. So, first I tried KBB, put in all of the info, and all of the price estimates for Excellent, Good, etc. were all populated with N/A. Ok, I thought...I'll try Edmunds.

So, I went on Edmunds.com and selected Land Rover Defender SUV --> 1995 Defender SUV and put in D90 3.9 V8, 2 DR 5-speed, 4WD --> Color: Black --> Add Optional Equipment: A/C, Alloy Wheels --> Vehicle Miles: 60,000 (hypothetical) --> Vehicle Condition: Outstanding

And here was the breakdown:

Trade In Prices:

National Base Price $3,952
Optional Equipment $76
Alloy Wheels $43
Air Conditioning $33
Color Adjustment - Black $-9
Regional Adjustment - for Zip Code 10021 $-99
Mileage Adjustment - 60,000 miles $940
Condition Adjustment - Outstanding $0
Total $4,860


Private Party Prices:

National Base Price $4,572
Optional Equipment $112
Alloy Wheels $63
Air Conditioning $49
Color Adjustment - Black $-10
Regional Adjustment - for Zip Code 10011 $-115
Mileage Adjustment - 60,000 miles $940
Condition Adjustment - Outstanding $0
Total $5,499


Dealer Retail Prices:

National Base Price $5,604
Optional Equipment $193
Alloy Wheels $109
Air Conditioning $84
Color Adjustment - Black $-12
Regional Adjustment - for Zip Code 10011 $-141
Mileage Adjustment - 60,000 miles $940
Condition Adjustment - Outstanding $0
Total $6,584



So, I sent in feedback and asked them to re-evaluate their appraisals for Defenders, since their prices were 10x off. I just received their e-mail response from one of their employees, AJ, who said the following:

Hello, and thank you for reaching out to Edmunds.com. Here at Edmunds, the prices we post are actual sales prices. Other websites like autotrader and KBB post the initial asking price before any and all negotiations take place. So, while the may post the price of a particular car at $11k, but when that car is negotiated down to $9k that's the price w post. Data is downloaded weekly from 5,000 dealerships and dealer groups across the country. Edmunds receives data from roughly 25% of all the US dealerships. Hope that helps clear things up. If there's anything else we can do, please don't hesitate to let us know.

Best Regards,
AD
Edmunds Live Advice


----------

So my response was for them to show me 5 examples of 1995 Defender 90s that have sold for $5k lately for that to be their average, and to please let me know where the rest of them are, as I'll buy them all at that price. No response has been rec'd for that e-mail yet.
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  #2  
Old October 24th, 2013, 09:14 PM
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Ouch, look I'll give you seven and we'll call it good?
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  #3  
Old October 24th, 2013, 09:29 PM
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County tax appraisal on my 83 110 was $4700 this year. I'd say that's mighty high compared to your actual value numbers for a NAS model.
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  #4  
Old October 24th, 2013, 09:55 PM
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Works well for states that use this for annual vehicle property tax but yea pretty ridiculous. They just plug it into an equation to depreciate original msrp by X% each year it seems.
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  #5  
Old October 25th, 2013, 05:57 PM
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I'm sure the VA guys would love to use Edmunds' numbers on their tax assessment bills...
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  #6  
Old October 25th, 2013, 06:20 PM
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The bank I use to finance my trucks is spot on with value. Where do they get their #'s from?
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  #7  
Old October 25th, 2013, 06:35 PM
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From someone in the industry, make sure your insurance agent is aware that your Defender is probably worth a lot more than your carrier thinks it is. If it's stolen, totaled or catches fire, you might be really disappointed at what they'll pay for "a 25-year old SUV." I ended up getting a stated value policy based on the receipts of what I had in it.
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  #8  
Old October 25th, 2013, 06:43 PM
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Maybe they left some zeros off. $33 for AC?
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  #9  
Old October 25th, 2013, 06:58 PM
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Quote:
Originally Posted by Daddymow View Post
Maybe they left some zeros off. $33 for AC?
Never mind that, they DEDUCTED $10 from the value for the COLOR BLACK!!!!
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  #10  
Old November 17th, 2013, 07:08 PM
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Quote:
Originally Posted by Axel View Post
From someone in the industry, make sure your insurance agent is aware that your Defender is probably worth a lot more than your carrier thinks it is. If it's stolen, totaled or catches fire, you might be really disappointed at what they'll pay for "a 25-year old SUV." I ended up getting a stated value policy based on the receipts of what I had in it.
What are some insurance companies people use for their Defender? I want to switch companies anyway and I am thinking I need to get an agreed value but not sure what Insurance companies do that. I tried to get Haggerty to insure it but they said no.
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  #11  
Old November 17th, 2013, 07:52 PM
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I am using Safeco, with an agreed value. Very reasonable rates. I am getting ready to raise my value based on updating the interior. All I have to do is send pictures and a copy of the invoices I spent. No problem at all...
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  #12  
Old November 17th, 2013, 08:33 PM
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Quote:
Originally Posted by hillstrubl View Post
I'm sure the VA guys would love to use Edmunds' numbers on their tax assessment bills...
YES!!!! How did I miss this earlier!!!!
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  #13  
Old November 17th, 2013, 09:22 PM
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Curious where you guys are getting your agreed value policies from and what you're spending on them. When it's all said and done, my re-engined ex-MOD would cost at least $55K to replace, probably more. USAA valued my truck at around $5K, I think. Need to get a new policy.
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  #14  
Old November 18th, 2013, 09:08 AM
MonLand
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There is a thread when insurance "agreed value" is discussed with a bunch of names/brands listed. Sorry, can't give you a link handy from my device, but I'm sure a search will work.
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I have an ex MoD and an ex wife. The two no longer conflict with each other.
Quote:
it is not hoarding it is selective collecting
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  #15  
Old November 18th, 2013, 09:11 AM
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These number are what the truck SHOULD be at. Not what people pay for them here in the US.

If you go to other countries, these numbers are not that far off.
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  #16  
Old November 18th, 2013, 09:12 AM
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Quote:
Originally Posted by Axel View Post
From someone in the industry, make sure your insurance agent is aware that your Defender is probably worth a lot more than your carrier thinks it is.
I asked on the phone (I.e. Not in writing) my insurance how much they would give me on a total loss on th Defender and the answer I got was "well, you have to have a total loss for us to tell you".... That's great! what are the magic words to get them to spit out a number so that I can at least make sure I am comfortable with the risk?

------ Follow up post added November 18th, 2013 09:13 AM ------

As an FYI, the FFX County property tax dept gets their numbers from KBB and if that does not work they go to NADA for classic cars (at least, that's what I was told a few years ago when I tried to dispute the raise of my tax assessment).
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I have an ex MoD and an ex wife. The two no longer conflict with each other.
Quote:
it is not hoarding it is selective collecting
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  #17  
Old November 18th, 2013, 09:51 AM
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No they now claim they can't get info from kbb/nada and now are getting true sales numbers - why our tax assessments went through the roof this year.
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  #18  
Old November 18th, 2013, 10:39 AM
MonLand
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That's the value of a '95 D90 soft-top on NADA:
http://www.nadaguides.com/Classic-Ca...Top-4x4/Values

Original MSRP: $28,650
Low retail: $28,200
Average retail: $43,000
High retail: $69,200


For comparison:
- for a '97 (soft top):
Original MSRP: $32,000
Low retail: $31,400
Average retail: $45,400
High retail: $71,600

- for a '94 (soft top):
Original MSRP: $27,900
Low retail: $25,900
Average retail: $38,500
High retail: $64,900
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Quote:
I have an ex MoD and an ex wife. The two no longer conflict with each other.
Quote:
it is not hoarding it is selective collecting
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1996 Discovery NAS
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  #19  
Old November 18th, 2013, 10:44 AM
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Sorry I misread. Not sure what the DMV uses, but I was referring to [at least] Loudoun County's tax assessments.
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  #20  
Old November 18th, 2013, 10:55 AM
MonLand
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As an FYI, I just sent a message to the "contact us" from NADA and hope to hear back from them.

------ Follow up post added November 18th, 2013 10:56 AM ------

Quote:
Originally Posted by cgalpin View Post
Sorry I misread. Not sure what the DMV uses, but I was referring to [at least] Loudoun County's tax assessments.
Hum.... I must be confused then. I thought the DMV was the one sending us the tax bill. I guess we are talking about the same thing (in my case coming from FFX Cty tax assessment). Sorry to try to get everyone confused!
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Quote:
I have an ex MoD and an ex wife. The two no longer conflict with each other.
Quote:
it is not hoarding it is selective collecting
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