![]() You’ll also receive a fair purchase price and pre-owned price (in case you’re the one looking to buy the car). When you input all of the car’s information and details about its condition, you are given both the trade-in value estimate and the private party estimate. These days, the Blue Book lives at KBB.com, where it provides real-time evaluations of your vehicle. Part of its popularity came from the fact that they used to publish a physical book that was blue, and it became widely used. Kelley Blue Book began in 1926 and has become the standard for used car prices. We’re going to take a look at what it is, discuss the values they give, and go over when to use a Kelley Blue Book estimate. Today, we’re going to go over the most popular book, Kelley Blue Book. These are known as “books.” Dealerships and car owners can use these books to evaluate their car’s value. However, there are many different evaluation resources that you can use. That’s where Kelley Blue Book values come in. Without it, you run the risk of asking too much (and not finding a buyer) or selling it for too little. When it comes to trading in your vehicle or selling it to a third party, accurate pricing is important. However, consumers can also use Black Book if they plan to sell their cars to private buyers.Determining the value of your used car requires more just than a rough estimate. 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. KBB uses reasonable expectations to determine a vehicle’s worth, but Black Book uses data from actual purchases. 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. Black Book says it also uses data from vehicle history reports, which include accident damage and routine service history. 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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