![]() Using this data, they make weekly updates to prices. Kelley Blue Book receives real-world used car prices from wholesale auctions, independent and franchised dealers, rental fleets, auto manufacturers, lessors, and private party transactions. How Kelley Blue Book Determines Car Values Potential problems with Blue Book values include a delay as price information is assessed, the consumer tendency to overrate the value of the car they are selling or trading in, and a mismatch between wholesale values listed by Kelley and the prices used by dealers, who access special industry-only pricing info.Kelley determines Blue Book values by analyzing pricing information from real-world used car prices, as well as industry developments, economic conditions, and location.For used vehicles some of them include: Trade-in value, typical listing price, fair purchasing price (CPO), and private party. Something to keep in mind is that their offer will account for the cost of getting your vehicle ready to re-sell, but youll also get tax savings towards the vehicle you’re purchasing. ![]() Kelley assesses a wide array of different values to both used and new vehicles. Our Value Range tool is a good way to gauge your car’s trade-in value and puts you in the driver’s seat when negotiating with a dealer.The Kelley Blue Book-and its equally popular website-is one of the most trusted guides for automobile pricing, used by those who are buying or selling cars. KBB values are based on a number of factors, such as the cars make, model, year, mileage, condition, and features.However, consumers can also use Black Book if they plan to sell their cars to private buyers. Because of that, Black Book is more useful for dealerships. Additionally, higher values are assigned to vehicles with less risk of needing extensive repairs. In general, Black Book’s value assignments are slanted toward increased profits for reselling rather than buying. Black Book also looks at a car’s average price from wholesale auctions. Most dealers go by auction reports, black book, or sometimes Galves. KBB uses reasonable expectations to determine a vehicle’s worth, but Black Book uses data from actual purchases. Kelly blue book has always been useless as far as I know. Any new accident or service appointment will automatically flag the car for a review of its current Black Book value.īlack Book also relies on both current and projected market insights within the auto industry. Since its humble beginnings 75 years ago, the Kelley company has worked to bring value information for cars, recreational vehicles and motorcycles to buyers and sellers. Gina Ferazzi / Los Angeles Times via Getty Imag. Black Book says it also uses data from vehicle history reports, which include accident damage and routine service history. The most well-used automotive pricing guide. However, Black Book is a bit different from KBB because it uses VIN-specific appraisals. ![]() The site also examines regional factors and current market fluctuations. Like KBB, Black Book looks at a vehicle’s age and condition to gauge its value. NBC News June 23, 2021īlack Book was founded nearly 40 years after Kelley Blue Book, its biggest rival. In the past year, used vehicle prices on average have climbed 30%, according to Black Book, which tracks car and truck data. KBB even offers pricing reports for other types of vehicles, such as motorcycles. Higher trims with more features will also have better resale values than their lower-level counterparts. The service also takes region-specific factors and the current national economic climate into account.Ī car’s condition, age, and mileage also contribute to its Blue Book value. KBB says it relies on industry trends, the latest field analysis findings, and analytics to determine vehicle values. Kelley Blue Book is the older of the two resources, so it’s the better-known choice. How does Kelley Blue Book determine a car’s value? Kelley Blue Book president Jared Rowe | Gina Ferazzi/Los Angeles Times via Getty Images Let’s break down the difference between these two car sales services. However, depending upon their needs, prospective buyers might be better off knowing a car’s Black Book value. KBB also offers in-depth reviews and comparisons to help shoppers narrow down which car is their perfect fit. Users can search the site for any car’s average asking price and estimated trade-in value. For nearly 100 years, the company has used extensive research to determine the value of any given vehicle. When searching for the best prices for used cars, many consumers turn to Kelley Blue Book.
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