It is not and never was meant to be an absolute value ever. Listed automobiles are appraised, and market values assigned. Get used car pricing and explore thousands of car listings at kelley blue book. How to avoid car dealers using a lower kelley blue book value. The seller is usually trained and has lots of practice. Wholesale blue book value this is the magic number and. Instead, many rely on national auto researchs black book or the manheim market report, neither.
Will a dealer ever pay full kelley blue book trade in. How to use the kelley blue book kbb to find values of. Oct 07, 20 kelley blue book prices tend to be a bit overinflated and a dealer needs to be able to make money on the vehicle when they resell it. The kelley blue book has become one of the major merchandising devices of modern vehicle selling. Why do dealers ask for more than the kelley blue book. You will see how various options, mileage and overall condition will affect the value of. There are a few circumstances where a dealer would offer close to the kbb value. Since those early beginnings, kelley blue book has become the gotochoice among both dealers and.
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. Determining the fair market value of a used car is easy with the kelley blue book used car pricing guide. Its the source for current transaction prices, whether a used car is a tradein or sold through a private party or dealer. Jun 01, 2016 kelley blue book kbb is the gold standard in setting usedcar valuations. You may be one of those people, and thus you need a guide to help you evaluate a cars price. Kelley blue book and edmunds are two of the most well known used car pricing guides in the united states. The kelley blue book used car value is used on sites like autotrader. Dealers use kelly blue book to establish the value of tradeins as well as. Vehicle valuation for car dealers kelley blue book b2b. People are not going to agree to the kelley blue book price right off the bat. Feb 28, 2020 kelley blue book receives realworld used car prices on a daily basis from wholesale auctions, independent and franchised dealers, rental fleets, auto manufacturers, lessors, and private party.
Will a dealer ever pay full kelley blue book trade in value. Dealerships and banks will always use nada values, and all used cars are bought and sold based on clean. One of the most useful tools to use when searching for a vehicle sold by used car dealers is the kelley blue book. 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. The kelley blue book value is a price for a particular automobile make and model from the largest automotive valuation company in the u. Find out the value of a used car with kelley blue book. Here you can find out how much a dealer might be asking for your desired model. The label also included the blue book price and the kelley blue book official seal. Kelley blue book values blue book values kbb vs nadaguides.
Even though millions of people including car dealers trust kelley blue book more than. Since 1926, the organization has monitored usedcar transactions, publishing marketdriven values on preowned cars. Black book values focuses on data points that can help lenders and dealers better identify vehicles with lower risks and higher potential profitability. Apr 02, 2014 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. Private party, tradein, retail values, 19872001 used car and truck, julydecember 2002 by kelley blue book jun 1, 2002 1. If you havent already done so, its time to empower yourself by visiting kelley blue book s used car retail values. It gives you an idea of the asking prices you might see on dealers lot. If you are selling your car and the phone does not ring then you have it priced too. When it comes to realizing the blue book price when selling a used car outright, sellers often find their expectations are set too high. With kelley blue book, you can visit one website to gather all the details you need to ensure that you are getting the best deal on a new car or the best price for an old one. Itll show you what you can reasonably expect to pay this week in your area for a used. By simply filling in a little information year, make, model, mileage, and vehicle condition kelley blue book will estimate the cars value, which in turn can be used during any one of a myriad of buying decisions. Car dealers use kelley blue book used vehicle pricing information to set used car prices and values.
Kelley blue book how does it compare to market value. All of the combined data is then analyzed by using the kbb algorithm. Thousands of dealers spent millions of dollars daily using galves. Nada but, nada is usually used by banks or car dealers to show you an inflated price value. Car dealers typically use two sources to figure trade in values. So many people today are engaging with the car market. Vehicle valuation tools to effectively manage your inventory. Kbb used car values, dealers used car cost, kelley blue book. The origins of kelley blue book date back more than eighty years, when a young car salesman from california, les kelley, began compiling a list of car prices as a tool for helping him evaluate vehicle value. The only truly accurate value guides are the ones that dealers and banks use. How often do car dealerships match or get close to the. Kelley blue book and edmunds are two of the most well known used car pricing. Kbb helps dealerships create a smooth tradein experience, acquire lowcost inventory, build trust with shoppers and improve customer satisfaction.
How to avoid car dealers using a lower kelley blue book. Of course, there may be some dealers out there using kelly to figure trade in values, but ive never met nor worked for one that does. 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. Did you get the kelly blue book value on your tradein. With the increased need to commute and the convenience of cars, this is a necessity. Kelley blue book receives realworld used car prices on a daily basis from wholesale auctions, independent and franchised dealers, rental fleets, auto manufacturers, lessors, and private party. The fair market range and fair purchase price are based on massive amounts of data, including actual. The kelley blue book has never sold a car, however, and does not take into account the facts on the ground at a dealership like the popularity of models in a given year or the location of the dealership.
Kelley blue book kbb is the gold standard in setting usedcar valuations. Kelly blue book is the biggest crock of shit ive ever seen. Mar 08, 2019 while youre there, take the opportunity to get a blue book tradein value for your own car. Use online car platforms with competitive financing rates. This is an as is value that does not include any warranties. Kelley blue book prices tend to be a bit overinflated and a dealer needs to be able to make money on the vehicle when they resell it.
How often do car dealerships match or get close to the kelly. They want to get a good deal, too, but you shouldnt be afraid to negotiate either. 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. The company provides customers, businesses, and consumers with accurate vehicle pricing information.
Havent visited the dealer yet just using the tools on their web site. 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. The final sales price depends on the cars actual condition and local market factors. The kelly blue book is only a guide that tells a dealer what that particular model has sold for in the recent past. Should you sell your car yourself or accept kelley blue book. Traditionally dealers have relied upon black book for determining how much they should pay for tradeins. With this knowledge, you will have the confidence that you are getting a vehicle that will meet your needs as well as the necessary information to negotiate effectively.
If youre thinking of using a used car prices book to help you in your used car. Therefore, you should never use nada books for real references. Used car trade in value how a dealer figures trade values. Galves printed books list the last 12 years of vehicle pricing data. 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. Investing a small amount of time to truly understand the different kelley blue book values, which used car values car dealers use and how they. 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. The main difference between kelley blue book and nada tradein value is the data they use kelley blue book gathers information to determine. Data services vin decoding, vehicle lookup and accurate vehicle valuation using our simple rest api. Nada guide, black book and kelley blue book compared autoblog. Best advice is to do your homework and dont go into a buying or selling. Similar to nadaguides, values published by kelley blue book rely on a constant flow of pricing information from various industry sources. Black book updates its online information daily while kelley blue book or kbb, updates its information weekly.
Kelly blue book is one of the top resources for car shopping. Most dealers do not use kbb for tradein wholesale values. Each dealer will apprise a vehicle based on its condition, miles and. Many dealers utilize the kelley blue book guide prices for used vehicles. Since 1926, the kelley blue book has been the goto resource for future car owners looking to evaluate the vehicles they are considering. Their pricing and value data includes statistical analysis that allows for current and timesensitive changes in historical valuation to be easily understood resulting in reliable predictors of values and potential risks.
How much more than the blue book value can a dealership sell. The kelley blue book gets more traffic when it comes to being used by buyers. Kbb used car values, dealers used car cost, kelley blue. 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. Edmunds also has a free car appraisal tool that helps you calculate what the retail price for a used vehicle should be. Kelly blue book is largely a consumer used book value, not a dealer or bank book value. Nadabut, nada is usually used by banks or car dealers to show you an inflated price value. While youre there, take the opportunity to get a blue book tradein value for your own car. The main difference between kelley blue book and nada tradein value is the data they use.
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. 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. 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. I use the kelley blue book and the black book for used car valuation. The buyer is obviously interested if they ask about your car. Both books claim to be the more accurate source of used car pricing guides. Itll show you what you can reasonably expect to pay this week in your area for a. Black book used car values kelly black book nadaguides. Apr 15, 2020 the kelley blue book has become one of the major merchandising devices of modern vehicle selling. The blue book is a great tool for consumers and dealers alike, and helps people buy used cars at fair prices every day. The difference between kelley blue book and nada tradein. For new car shoppers, the kelley blue book fair market range and fair purchase price go beyond widely available new car prices like msrp and dealer invoice to show you what you can expect to pay for a new car in your area this week. Even if you do get a fair price on a trade in, you will lose that money on the other side of the deal.
Car dealers use the kelley blue book to set their retail prices. Kbb is just one of the books printed, in hopes to make a profit from selling. In 1993, the blue book was finally released as a consumer guide. Mar 16, 2016 kelly blue book will buy your customers tradein, just not at the value they gave your customer. Kelley blue book kbb is considered one of the most reliable resources and for determining the value of a used car, and an authoritative pricing guide for selling, buying, and trading cars. Oct 07, 20 car dealers are experts when it comes to deciding a tradein price. For example, if market conditions in a certain area show a car is selling well at a certain price, dealers are going to price those vehicles. If you plan to sell your car yourself, youll want to also research the kelley blue book private party value, which. Some people look to buy, and other seek to sell cars. Do dealerships go by the kbb trade in value for trading in a car. 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. Guidebooks galves printed books list the last 12 years of vehicle pricing data. Can i realistically get the kelley blue book price.
Always remember that your car is only worth what someone is willing to. They have been around since 1918, while black book started in 1955. The prices and information contained in the kelley blue book generally suggest a range of prices that a used car should sell or buy for. Nada blue book values for used cars, certified preowned cars and more, brought to you by the national automobile dealers association. Provide your customers with easy access to the most trusted values in the industry. In the video above i explain why you should use the kelly blue book to do your market research because most people in the us look at the kbb values before buying a car. How dependable is kbb, nada, edmunds, etc for car valuation. What do dealers really mean when they refer to the blue book price. How much more than the blue book value can a dealership. If you dont know how to use this powerful internet tool to help your customer better understand.
Kelly blue book will buy your customers tradein, just not at the value they gave your customer. Kelley blue book or kbb is a respected used car price guide often quoted by used car dealers to demonstrate that prices of cars on their lots are fair. Car dealers love to quote blue book this and blue book that, but what does it. 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 kelley blue book private party value is the starting point for negotiation of a usedcar sale between a private buyer and seller. Dealerships have to make a profit, so you cannot expect to get a fair kelley blue book price. You will see how various options, mileage and overall condition will affect the value of your vehicle. 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.
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. The used car prices black book and blue book values serve different purposes. 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. 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. The majority of tradeins will come in well below kelley blue book value. Car dealers are experts when it comes to deciding a tradein price. If youre buying a used car at a dealership, start with the typical listing price. Dealers can use both kelly blue book and nada values depending on their preference. Black book vs kelly blue book trade in values fremont motors. Sep 11, 2016 this is how you properly use kelley blue book to get a real idea of what someone would be willing to pay for your vehicle. For what you might actually pay for that used car, use the kelley blue book fair market range as a guide. The bottom line, if you like the car, its in good shape, and is comparable to ones in the area, and you like the company youre dealing with, its a good deal. How do car dealerships use kelley blue book kbb values.