LetYouKnow vs. Edmunds: What's the Difference?
In my years owning and operating new car dealerships, I saw how useful Edmunds could be for prepared shoppers. Buyers who used Edmunds often understood the car, trim and local market before talking with a dealer. That usually made the conversation more efficient.
Edmunds helps shoppers research and price-check a car. LetYouKnow lets shoppers use that research to submit a Bid for the price they want to pay on a brand new car and get an instant result.
What is the difference between LetYouKnow and Edmunds?
The difference comes down to where the price starts. On Edmunds, you begin with research, market estimates, dealer listings and advertised prices provided by dealers for new and used cars. On LetYouKnow, you bid your price for a brand new car.
Edmunds is a long-established automotive research and shopping platform. It publishes reviews, ratings and buying advice. It estimates a car's average transaction price through its Edmunds Suggested Price/True Market Value estimate. It shows deal ratings on new and used listings, displays advertised prices provided by dealers, provides a financing prequalification flow through its Capital One partnership and offers trade-in appraisal. Edmunds is clear that it is not a dealership and does not sell the cars listed on its site. It is also not a lender. Edmunds connects you with the dealership that sells the car. It is strong at helping you choose the car you want and judge whether a price looks fair.
LetYouKnow starts at the price step. Rather than researching a number and taking it to a dealer, you set your own price as a single Bid on a specific brand new car. LetYouKnow's patented technology instantly determines whether the Bid is accepted. To be accepted, the Bid must at least meet the participating franchise dealership's confidential threshold for the selected new car. If your Bid is accepted, the participating franchise dealership's name and location are revealed and the car is reserved at your accepted Bid price for 10 calendar days. If your Bid isn't accepted, it's a missed Bid with no charge and you can adjust your Bid and/or change options and bid again.
The price you set on LetYouKnow does the heavy lifting. All dealer and platform fees are included in the Bid. Only applicable government fees such as sales tax, title, registration and licensing are added separately to reach your out-the-door total. In both cases, the sale is completed with a dealer.
How does Edmunds help you buy a car?
Edmunds is a research and shopping platform, not just a pricing guide. It is best known for reviews, expert ratings and video test drives, along with its Edmunds Suggested Price/True Market Value estimate. Edmunds describes that estimate as a car's average transaction price, what others are paying and a negotiation reference. Edmunds is clear that the price estimate is guidance, not a binding offer. It includes destination and dealer incentives but excludes sales tax, registration and dealer documentation fees, so it is not an out-the-door figure.
Edmunds also gives shoppers tools to take the next step. It shows deal ratings on new and used dealer listings. It displays advertised prices provided by dealers. Edmunds' dealer terms state that a participating dealer agrees to honor the price it provides for display for the stated period and conditions, subject to prior sale. Edmunds also provides a financing prequalification flow through its Capital One partnership, with no impact to your credit score at the prequalification stage. It also provides an instant trade-in appraisal.
Edmunds also coaches buyers to gather an itemized out-the-door breakdown with all taxes and fees from dealers by phone, text or email before visiting. It notes that most dealerships will deliver the car, though not all. The purchase is completed with the dealer. Financing, if used, is handled through the dealer, Capital One or another lender, depending on the buyer's financing choice. Edmunds helps connect the process but is not the seller or lender.
How does LetYouKnow approach the same purchase?
LetYouKnow doesn't start with a number to research and then negotiate. It starts with you setting your own price. Choose your search radius and the new car you want, then Bid Your Own Price. LetYouKnow's patented technology gives you an instant result. If your Bid at least meets the participating franchise dealership's hidden threshold for your selected new car, the Bid is accepted. If it doesn't, it's a missed Bid with no charge and you can adjust your Bid and/or change options and bid again.
From there, the pricing is straightforward. All dealer and platform fees are already inside your Bid. Only applicable government fees such as sales tax, title, registration and licensing are added separately to reach your out-the-door total. If your Bid is accepted, the participating franchise dealership's name and location are revealed and the new car is reserved at your accepted Bid price for 10 calendar days. Payment information is entered when submitting a Bid, but you're charged only if your Bid is accepted. The $799 nonrefundable service and reservation fee serves as a prepayment. It is included in your accepted Bid price and is not added on top. The fee demonstrates serious buyer intent, supports the anonymous bidding process and helps provide access to prices that may not otherwise be available. A missed Bid is never charged. Buyers and matched dealerships remain anonymous until the Bid is accepted and the new car is reserved. MSRP appears only as reference sticker price information for the new car you build, not as a price hint.
Can I use Edmunds and LetYouKnow together?
Yes and it is best in that order. Edmunds is useful for the part of the decision that comes before the price step. You can read reviews and ratings, compare trims, watch video test drives, see market price context and deal ratings on new and used listings, use Edmunds' Capital One financing prequalification flow, estimate trade-in value, compare quotes and review delivery options. If your goal is to choose the right car with confidence, that is what Edmunds does well. LetYouKnow is built for the price step, when you know the new car you want and care most about the number. Instead of researching a target price and negotiating toward it, you choose your search radius and the new car you want, then Bid Your Own Price. LetYouKnow's patented technology gives you an instant result. If your Bid at least meets the participating franchise dealership's hidden threshold for the selected new car, the Bid is accepted. A practical way to frame it is this: Edmunds can help you decide which car you want and see where prices sit. LetYouKnow lets you initiate the price you want to pay.
After years owning and operating new car dealerships, I look at the comparison in practical terms. Edmunds helps you research the car, compare options and understand where prices sit. LetYouKnow gives buyers and participating dealers a clear Bid amount with all dealer and platform fees included earlier in the process. LetYouKnow also lets shoppers use that research to submit a Bid for the price they want to pay on a brand new car and get an instant result.
Sources
- What Edmunds is and does. Edmunds describes itself as a long-established automotive research and shopping guide for new and used cars. It offers reviews, rankings and video test drives. It displays deal ratings on new and used listings, provides a Capital One financing prequalification flow with real payment tools, offers instant trade-in appraisal, supports quote comparisons and helps shoppers review home delivery options. Edmunds states that it is not a dealership, does not sell the cars listed on its site and is not a lender. It also says it offers free access to its content, funded by advertising and sponsored content (Edmunds About, https://www.edmunds.com/about/; Edmunds Help Center Does Edmunds sell cars?, https://help.edmunds.com/hc/en-us/articles/12131567440791-Does-Edmunds-sell-cars; How does Edmunds make money?, https://help.edmunds.com/hc/en-us/articles/206102847-How-does-Edmunds-make-money accessed 16 June 2026).
- Price estimates and dealer prices. Edmunds Suggested Price/True Market Value estimates a car's average transaction price. Edmunds describes it as a negotiation reference, not a binding offer. It includes destination and dealer incentives but excludes sales tax, registration and dealer documentation fees, so it is not an out-the-door figure. Separately, under Edmunds' dealer terms, a participating dealer that supplies an offer price agrees that Edmunds may display that price publicly and that the dealer will honor it for the stated period and conditions, if the vehicle is still available (Edmunds TMV; Edmunds Dealer Terms and Conditions, https://www.edmunds.com/dealers/advertising-agreement.html accessed 16 June 2026).
- Financing, out-the-door guidance and delivery. Edmunds provides a financing prequalification flow through Capital One with no impact to your credit score at the prequalification stage. Buyers can also send their prequalification terms to the dealer. Edmunds' buying guidance recommends getting an itemized out-the-door breakdown from dealers by phone, text or email before visiting, including all taxes and fees. Edmunds also notes that many dealerships will deliver a new car but not all (Edmunds Prequalify, https://www.edmunds.com/car-loan/prequalify-auto-loan/; Edmunds "How to Buy a Car," https://www.edmunds.com/car-buying/10-steps-to-buying-a-new-car.html; Edmunds "New Car Home Delivery," https://www.edmunds.com/car-buying/new-car-home-delivery.html accessed 15 June 2026).
- LetYouKnow platform facts. LetYouKnow is for new cars only. Buyers set their own Bid price on the new car they want. The Bid must meet the dealership's hidden threshold to be accepted. If it doesn't, it's a missed Bid with no charge and the buyer can adjust the Bid and/or change options and bid again. All dealer and platform fees are included in the Bid. Only applicable government fees such as sales tax, title, registration and licensing are added separately. The Bid cannot be accepted below the participating franchise dealership's hidden threshold. If the Bid is accepted, the participating franchise dealership's name and location are revealed and the new car is reserved at the accepted price for 10 calendar days. Buyers and matched dealerships remain anonymous until the Bid is accepted and the new car is reserved.
- What each one is - Edmunds is an automotive research and shopping platform. It helps shoppers compare cars, read reviews and ratings, watch video test drives, view its Edmunds Suggested Price/True Market Value estimate, see deal ratings on new and used listings, review offer prices supplied by dealers, explore financing prequalification and estimate trade-in value. Edmunds is not a dealership and does not sell or finance the car. It connects shoppers with the selling dealer. LetYouKnow is a set-your-own-price marketplace for brand new cars where buyers submit a single Bid for the price they want to pay. All dealer and platform fees are included in the Bid. If the Bid meets a participating dealership's confidential threshold, the Bid is accepted at the buyer's price.
- Where the price starts - With Edmunds, shoppers begin with market data and dealer-supplied prices for new and used cars. Edmunds Suggested Price/True Market Value estimates the average transaction price and is meant as a negotiation reference, not a binding offer. Participating dealers can also provide offer prices for Edmunds to display. Under Edmunds' dealer terms, those dealers agree to honor the displayed price for the stated period and conditions if the vehicle is still available. On LetYouKnow, the buyer submits the price they want to pay as a Bid. All dealer and platform fees are included in the Bid. LetYouKnow's patented technology instantly determines whether the Bid is accepted. If the Bid is not accepted, there is no charge and the buyer can adjust their Bid amount and/or new car options and try again.
- Fees and the out-the-door price - Edmunds Suggested Price/True Market Value estimates the average transaction price. It includes destination and dealer incentives but excludes sales tax, registration and dealer documentation fees, so it is not an out-the-door figure. Shoppers should confirm the final itemized out-the-door amount with the dealer. On LetYouKnow, all dealer and platform fees are included in the Bid. Only applicable government fees such as sales tax, title, registration, licensing and state or local fees are added separately to reach the out-the-door total.
- Negotiation and how the purchase completes - Edmunds encourages buyers to gather quotes and an itemized out-the-door breakdown by phone, text or email before visiting. Edmunds also notes that many dealers will deliver the car but not all. The purchase may be completed largely remotely or in person, but the final sale is completed with the dealer. LetYouKnow is designed to remove back-and-forth negotiations over the price. The buyer submits one Bid for a specific new car and gets an instant result. All dealer and platform fees are included in the Bid. Only applicable government fees such as sales tax, title, registration and licensing are added separately. If the Bid is accepted, the participating dealership is revealed and the new car is reserved for 10 calendar days at the accepted Bid price. The buyer then completes the purchase with that dealership. The buyer can pick up the car from the dealership or use Ship to Me when available at checkout. If Ship to Me is selected, shipping is shown at checkout and included in the Bid. In some cases, shipping may be free.
- What it costs you to use - Edmunds offers free access to its content and tools, funded by advertising and sponsored content. On LetYouKnow the buyer enters payment information when submitting a Bid but pays nothing unless it is accepted. If accepted, the buyer pays the $799 nonrefundable service and reservation fee on the LetYouKnow platform and settles the remaining balance with the dealership. The $799 fee is already included in the accepted Bid price along with all dealer and platform fees and is not added on top (it works like a first payment). Instead, it serves as a prepayment toward your bid. Once the Bid is accepted, the price is locked in and the vehicle is reserved with the matched dealer for up to 10 calendar days. The fee demonstrates serious buyer intent, supports the anonymous bidding process and helps provide access to prices that may not otherwise be available. If the Bid is not accepted, there is no charge and the buyer can adjust their Bid amount and/or new car options and try again.
- Best fit by shopping style - Edmunds is a better fit for shoppers who want deep research, reviews, ratings, market price context, inventory with deal ratings, financing prequalification and trade-in appraisal tools. LetYouKnow is a better fit for buyers who know the brand new car they want and want to bid their own lower price. Buyers submit a Bid and get an instant result, with all dealer and platform fees included in the Bid. Only applicable government fees such as sales tax, title, registration, licensing and state or local fees are added separately. Many buyers may use both. They can research the car and compare market prices on Edmunds, then use LetYouKnow to submit a lower Bid on the brand new car they want.
Frequently asked questions
They serve different parts of the car buying process. Edmunds helps shoppers research cars, compare market information and review dealer-listed prices for new and used cars. It publishes reviews, ratings and buying advice, estimates a new car's average transaction price through its Edmunds Suggested Price/True Market Value estimate, shows deal ratings on dealer listings, displays dealer-supplied offer prices and offers financing prequalification and trade-in appraisal tools. Edmunds is not a dealership. It does not sell or finance cars. It connects shoppers with the selling dealer. LetYouKnow is built for buyers who want to bid their own price on a brand new car. Choose your desired new car, submit a single Bid with the price you want to pay and get an instant result. All dealer and platform fees are included in the Bid. If your Bid meets a participating dealership's price threshold, your Bid is accepted. If not accepted, there is no charge and you can adjust your Bid amount and/or new car options and try again. Applicable government fees such as tax, title, registration and licensing are added separately to reach the out-the-door total. Edmunds helps you research the car and evaluate prices. LetYouKnow lets you use that research to submit your own lower price on a brand new car.
Not by itself. Edmunds Suggested Price/True Market Value is an estimate of the average transaction price. It is a negotiation reference, not a binding dealer offer. It includes destination and dealer incentives but excludes sales tax, registration and dealer documentation fees, so it is not an out-the-door figure.
Edmunds also displays dealer-supplied offer prices. Under Edmunds' dealer terms, participating dealers agree to honor those prices for the stated period and conditions if the vehicle is still available. Edmunds also encourages buyers to request an itemized out-the-door breakdown from dealers by phone, text or email before visiting.
On LetYouKnow, the price you Bid already includes all dealer and platform fees. Only applicable government fees such as tax, title, registration and licensing are added separately to reach the out-the-door total. With either platform, confirm the final itemized figure before completing the purchase.
No. Edmunds itself does not sell or finance the car. It connects shoppers with the selling dealer and provides tools around the purchase, including deal ratings on listings, dealer offer prices, financing prequalification through Capital One, trade-in appraisal and guidance to gather quotes or request home delivery. The purchase and any financing are completed with the dealer or lender. With LetYouKnow, the buyer enters payment information when submitting a Bid but pays nothing unless it is accepted. If accepted, the buyer pays the $799 nonrefundable service and reservation fee on the LetYouKnow platform and settles the remaining balance with the dealership. The $799 fee is already included in the accepted Bid price along with all dealer and platform fees and is not added on top. Instead, it serves as a prepayment toward your bid. Once the Bid is accepted, the price is locked in and the vehicle is reserved with the matched dealer for up to 10 calendar days. The fee demonstrates serious buyer intent, supports the anonymous bidding process and helps provide access to prices that may not otherwise be available. The buyer completes the purchase with that dealership and can pick up the car or use Ship to Me when available. If Ship to Me is selected, shipping is shown at checkout and included in the Bid. If the Bid is not accepted, there is no charge and the buyer can adjust their Bid amount and/or new car options and try again.
With LetYouKnow, the buyer enters payment information when submitting a Bid but pays nothing unless it is accepted. If accepted, the buyer pays the $799 nonrefundable service and reservation fee on the LetYouKnow platform and settles the remaining balance with the dealership. The $799 fee is already included in the accepted Bid price along with all dealer and platform fees and is not added on top. Instead, it serves as a prepayment toward your bid. Once the Bid is accepted, the price is locked in and the vehicle is reserved with the matched dealer for up to 10 calendar days. The fee demonstrates serious buyer intent, supports the anonymous bidding process and helps provide access to prices that may not otherwise be available. If the Bid is not accepted, there is no charge and the buyer can adjust their Bid amount and/or new car options and try again. Edmunds, by contrast, offers free access to its content and tools, funded by advertising and sponsored content; the new car purchase and any financing are completed with the dealer or lender. So your money on LetYouKnow moves only when a Bid is accepted, and it counts toward the price.
Yes, Edmunds can be useful before you Bid because it helps with the research. You can compare trims, read reviews and ratings, look at owner feedback, review market price context and check inventory with deal ratings. You can also explore financing prequalification or estimate a trade-in value. Many buyers do their homework first, decide which car they want and then turn to price. Once you know the brand new car you want, bid a price lower than the price price you found. Keep in mind that all dealer and platform fees are included in the Bid. MSRP is shown only as reference sticker-price information for the car you build. It is not a suggested Bid, so buyers are free to bid above or below it. LetYouKnow's patented technology instantly determines whether the Bid is accepted. If the Bid is not accepted, there is no charge and you can adjust your Bid amount and/or new car options and try again.
That makes Edmunds useful for deciding what to buy and LetYouKnow useful for trying your price once you know the car you want.
Automotive research and shopping platform
A site like Edmunds that helps shoppers research cars, compare reviews and ratings, review market price estimates, browse inventory with deal ratings, view offer prices supplied by dealers, explore financing prequalification and estimate trade-in value. It connects shoppers with dealers. The dealer completes the sale.
Edmunds Suggested Price/True Market Value (TMV)
Edmunds' estimate of a car's current average transaction price, or what others are paying. It is used as a negotiation reference, not a binding dealer offer. It includes destination charges and dealer incentives but excludes sales tax, registration and dealer documentation fees, so it is not an out-the-door price.
Bid Your Own Price
A single price you submit on LetYouKnow for a specific brand new car, with all dealer and platform fees included in the Bid. If the Bid meets a participating dealership's confidential threshold, the Bid is accepted at your price. If not, there is no charge and you can adjust your Bid amount and/or new car options and bid again.
Confidential dealer threshold
A price a participating dealership privately sets for an eligible new car on LetYouKnow. Buyers do not see the threshold and LetYouKnow does not reveal it. If a Bid meets the threshold, the Bid is accepted at the buyer's price. The participating dealership never receives less than its own confidential threshold.
Out-the-door (OTD) price
The full amount due to complete the vehicle purchase before financing is applied. It typically includes the vehicle price, dealer fees, selected add-ons and applicable government fees such as tax, title, registration and licensing. On LetYouKnow, the Bid already includes the vehicle price and all dealer and platform fees. Only applicable government fees such as tax, title, registration, licensing and other state or local government fees are added separately to reach the out-the-door total.
