I use the kelley blue book and the black book for used car valuation. Most dealers do not use kbb for tradein wholesale values. Lets take a look at the two options and the factors you should consider when choosing which method to use. For instance, when used to calculate the value of the same vehicle with all the same specs, kelley blue book and nada guides will often come up. Blue books generally require students to answer openended questions or a list of topics to choose from with written. Kelley blue book is a popular evaluation guide for consumers and dealerships. In the most basic sense, kelley places a large amount of emphasis on mileage, condition, features, and popularity, while nada tends to focus on the vehicles wholesale price i. Kbb used car values, dealers used car cost, kelley blue. However, in my experience it does not provide the best figures for estimating a dealers used car cost. Black book updates its online information daily while kelley blue book or kbb, updates its information weekly.
The blue book is a coin price guide that informs you on the approximate amount of money you can expect to get if you sell your coins to a coin dealer. Feb 28, 2020 the kelley blue book is the most popular usedcar buying guide. The kelley blue book value is a price for a particular automobile make and model from the largest automotive valuation company in the u. If you dont know how to use this powerful internet tool to help your customer better understand. Traditionally dealers have relied upon black book for determining how much they should pay for tradeins. Do not sell my personal information terms of use fraud awareness. But now consumers have access to the information, allowing them to use it as a negotiating tool. Even if you do get a fair price on a trade in, you will lose that money on the other side of the deal. Mar 02, 2020 the kelley blue book value is a price for a particular automobile make and model from the largest automotive valuation company in the u.
It depends a lot on desirability too, and condition, but it does give you a range of what to expect. Car dealers use kelley blue book used vehicle pricing information to set used car prices and values. In 1992, it offered dealers a computer program that allowed them to print out a label displaying the condition, mileage, and optional equipment on a used car. Since 1926, new and used car buyers and sellers have relied upon kelley blue book for authoritative and unbiased information to make wellinformed car, truck and suv buying decisions. The majority of tradeins will come in well below kelley blue book value. The main difference between kelley blue book and nada tradein value is the data they use. The problem with how dealers value tradeins is the built in costs of the dealership. Besides, the dealer can always make your trade look higher by raising the price and then putting more value on your trade. It would depend on the dealer, the car youre buying, and the car youre selling.
This criteria includes the vehicles history, current condition, make, model, year, mileage, and desirability in the market. How the wholesale value is used dealerships use the kelly wholesale blue book value when buying cars from. However, the dealer sees a different version of the information than the consumer sees, so its important to know how. The black book was established in 1955 by three businessmen in gainesville. Nada guide, black book and kelley blue book compared autoblog. The kelley blue book used car value is used on sites like autotrader. This is an as is value that does not include any warranties. Kelley wholesale blue book value, kbb used car invoice. For what you might actually pay for that used car, use the kelley blue book fair market range as a guide. Use these tools provided by nadaguides trusted partners to complete your rv shopping experience. Feb 20, 2020 blue book is a guidebook that compiles and quotes prices for new and used automobiles and other vehicles of all makes, models and types. Since 1942, the blue book has been the annual reference used by u.
Dealers can use both kelly blue book and nada values depending on their preference. Estimate used car cost on a dealers car auto cheat sheet. If you plan to sell your car yourself, youll want to also research the kelley blue book private party value, which. But your carmax offer may be lower or higher than the kbb estimate because carmax uses its own data and. Mar, 2017 the blue book is a great tool for consumers and dealers alike, and helps people buy used cars at fair prices every day. Kelley blue book for new cars if youre looking to match a kelley blue book value to a new car quote, get onto the kelley blue book site and select the year and model.
Kelly blue book will buy your customers tradein, just not at the value they gave your customer. Itll show you what you can reasonably expect to pay this week in your area for a. In addition, for the easiest way to get rid of your current car, we offer the kelley blue book instant cash offer, an actual cash offer based on blue book values, redeemable today for cash or tradein at a network of participating dealers subject to terms and conditions. Dealers use kelly blue book to establish the value of tradeins as well as comparing numbers to set their lot prices. The black book is similar to price guides such as the kelley blue book and nada guide, but it is less wellknown. Kelley blue book is used to calculate car values, traditionally for dealers. If you inform the dealer that you are aware that kelley blue book does not list the actual selling prices, but the retail prices, you may have a fair shot at getting the price you deserve. Kelley blue book new and used car price values, expert car. They will use a number of resources, namely kelley blue book and nada tradein value, but they mainly rely on their years of experience appraising cars. Kelley blue book and edmunds are two of the most well known used car. How much more than the blue book value can a dealership. Will an auto dealer give me the kelly blue book value of. If you havent already done so, its time to empower yourself by visiting kelley blue book s used car retail values.
If you dont know how to use this powerful internet tool to. Kelley blue book values blue book values kbb vs nadaguides. Nadabut, nada is usually used by banks or car dealers to show you an inflated price value. Which, in general, is about what car dealers pay in trade in for used cars. Manufacturers, wholesale auctions, franchised and independent dealers, rental companies and financial institutions are among the data sources used to calculate new and used vehicle prices. The blue book is a great tool for consumers and dealers alike, and helps people buy used cars at fair prices every day. Well show you the average, lowest and highest prices found in the results. There are a few circumstances where a dealer would offer close to the kbb value.
Kelley blue books is americas most used and trusted vehicle pricing, values and information resource. The kelley blue book values in the dealers guide will often be shown to you in order to stop you from negotiating a lesser price. Blue book is a guidebook that compiles and quotes prices for new and used automobiles and other vehicles of all makes, models and types. None of the blue book values youll find in their guide are set in stone. How do car dealerships use kelley blue book kbb values. Getting rid of your old car is one of the oft forgotten pain points of buying a new car. Dealers will occasionally use the retail blue book value, but rarely, if ever, use the last two values. If youre thinking of using a used car prices book to help you in your used car. Oct 07, 20 car dealers are experts when it comes to deciding a tradein price.
Check car prices and values when buying and selling new or used vehicles. The kelley blue book has become one of the major merchandising devices of modern vehicle selling. Blue books generally require students to answer openended questions or a. Listed automobiles are appraised, and market values assigned. May 26, 2015 getting rid of your old car is one of the oft forgotten pain points of buying a new car. It is more commonly used when a dealer is providing retail numbers, since they are much higher than other publications. Kbb used car values, dealers used car cost, kelley blue book.
Retail, private party and trade in are the other three kelly blue book values and kelly shares these values for free on their website. I know from experience with them in the past that if i say the blue book value is x, they say, well you should go sell it yourself, because we wont give you anything. How to use the kelley blue book kbb to find values of. More specifically, a blue book refers to the type of exams that require students to use these books to complete the test. Will an auto dealer give me the kelly blue book value of my.
Kelley blue book kbb kelley blue book or kbb for short is a guide that establishes values for used cars, trucks, suvs and other used vehicles. Dealerships have to make a profit, so you cannot expect to get a fair kelley blue book price. Nada blue book values for used cars, certified preowned cars and more, brought to you by the national automobile dealers association. Kelley blue book does give you a general idea of what you can expect for your vehicle on. But your carmax offer may be lower or higher than the kbb estimate because carmax uses its own data and inspection process. Since 1926, the organization has monitored usedcar transactions, publishing marketdriven values on preowned cars. If youre buying a used car at a dealership, start with the typical listing price. Thats why it makes sense to stay close to the kelley blue book values. Oct 18, 2019 well, if you listen to the fine print, most dealers say theyre basing on kbb fair condition trade in value, and subtracting for excess wear. From used car lots to new car dealers, they all claim to sell cars at or below blue book while.
If the car was a very popular model or in short supply, a dealer would offer a better trade in price. The blue book does provide some very useful information. Similar to nadaguides, values published by kelley blue book rely on a constant flow of pricing information from various industry sources. In 1993, the blue book was finally released as a consumer guide. Dec 26, 2019 it would depend on the dealer, the car youre buying, and the car youre selling. Used car values, price guide and tradein estimator. Well, if you listen to the fine print, most dealers say theyre basing on kbb fair condition trade in value, and subtracting for excess wear. Mar 16, 2016 kelly blue book will buy your customers tradein, just not at the value they gave your customer. Mar 08, 2019 do not confuse them with reputable dealers. It gives you an idea of the asking prices you might see on dealer s lot. Edmunds also has a free car appraisal tool that helps you calculate what the retail price for a used vehicle should be. In the world of used car sales, there are no preset values, so a dealer is free to use whatever sticker price it wants for a.
The kelley blue book is the most popular usedcar buying guide. Some dealers will say they use black book or kelly blue book, they dont really, if they give you kbb value for your trade they just infalte the price of the car they are selling to cover the difference or make thier money selling you accesories or something else. Here you can find out how much a dealer might be asking for your desired model. Will a dealer ever pay full kelley blue book trade in value. The trouble is that while both guide books are meant to help consumers and dealers establish value, there is often some discrepancy between the two sources. Car dealers are experts when it comes to deciding a tradein price. Likewise, coin collectors use it to find out what dealers will pay for their coins. They cannot provide the warranty, inspection and accountability of an established used car dealer. The label also included the blue book price and the kelley blue book official seal. Solutions for consumers if you use kbb as a general guide and follow the suggestions below, kelley blue book. The discrepancy can be attributed to the simple fact that kelley blue book and nada guides use two different methods for calculating a vehicles value. A lot of people do not understand exactly how dealerships use the blue book, so we put this guide together to help you understand how car dealerships use the blue book value of a car. Kelly blue book doesnt have much to do with the real world, and the nada is only a guide. In the world of used car sales, there are no preset values, so a dealer is free to use whatever sticker price it wants for a used car.
Carmax appraisals use the same general criteria as personalized kelley blue book estimates. Estimates are available for used cars in extra clean, clean, average and rough conditions. Oct 07, 20 the majority of tradeins will come in well below kelley blue book value. Car dealers use the kelley blue book to set their retail prices. The kelley blue book private party value is the starting point for negotiation of a usedcar sale between a private buyer and seller. The toprated web site provides the most uptodate pricing and values for thousands of new and used vehicles, including the new car blue book value, which reveals what people actually are paying for new cars. For almost eighty years, nada guides and kelley blue book have served as a guide for. Kelley blue book and edmunds kelley blue book and edmunds are two of the most well known used car pricing guides in the united states.
The black book, like kelley blue book, provides a value for different used car makes and models so car dealers will know how much a vehicle is worth. Jan 27, 2012 the kelley blue book site is a great resource for any car shopper looking at car quotes from dealers. How to use the kelley blue book for car quotes carsdirect. Formally known as the kelley blue book, it was originally. Many of us just want to offload our old cars as quickly as possible and the. Therefore, you should never use nada books for real references. Kelley publishes more than one price guide for used cars, but the one your dealer is likely to use is the one labeled kelley blue book auto market report official guide, the version of the. Kelley blue book kbb is the gold standard in setting usedcar valuations. What do dealers really mean when they refer to the blue book price. The main difference between kelley blue book and nada tradein value is the data they use kelley blue book gathers information to determine. The black book for motorcycles is a price guide that motorcycle dealers use to determine the resale and tradein values for a motorcycle. Many of us just want to offload our old cars as quickly as possible and the surefire way to do. Edmunds also has a free car appraisal tool that helps you calculate what the retail. Mar 11, 2020 kelley blue book and edmunds kelley blue book and edmunds are two of the most well known used car pricing guides in the united states.
Heres a look at just how trustworthy it is plus a comparison with the competition. Havent visited the dealer yet just using the tools on their web site. Did you get the kelly blue book value on your tradein. The final sales price depends on the cars actual condition and local market factors. Its a quick way to find out the range of listed prices for your search. The difference between kelley blue book and nada tradein. Can i realistically get the kelley blue book price. Should you sell your car yourself or accept kelley blue book. How much more than the blue book value can a dealership sell a car. Although, there are many misconceptions about the guide that create confusion among consumers. Youll see a price that corresponds to msrp or other price. Do car dealers use a different version of kelley blue book.
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