![]() ![]() 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. 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. As one of the most trusted resources by both professionals and consumers within the automotive industry. KBB says it relies on industry trends, the latest field analysis findings, and analytics to determine vehicle values. Kelley Blue Book Car Values With Laser Appraiser. 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. They are only a guideline.When searching for the best prices for used cars, many consumers turn to Kelley Blue Book. Don’t get fooled into believing they are absolute values for your trade. Use the Internet and these resources as a place to begin in determining the value of your vehicle. None of these sites are in the market of buying used vehicles and they will never write you a check for what they say the value of your car is worth. Two: A higher price means more visitors – more income! One: These websites make their money from selling advertisements. book tell you your vehicle is worth more than what it is? Why do the Kelley Blue Book, Edmonds and the N.A.D.A. Today it takes the keen eye of an experienced appraiser, who is familiar with the market conditions to determine the real value of your vehicle. Unfortunately, your opinion and the Dealers opinion may be totally different on how they see the value of your vehicle. The used car Blue Book value, and other books, generally gives you above average, average and below average values of your vehicle. None of the books will reflect this change. With the high demand of used cars these days, prices can vary from day to day. The real value of your vehicle is determined by what someone will pay for your vehicle today. If an area has an abundance of Jeep Liberty’s, then the price will decrease on these vehicles. Supply and demand is a major factor in determining values. The used car blue book value is only a guideline and a good place to begin when trying to determine the value of a vehicle. The USED (2015-2009) and OLDER (1999-2008) Vehicle Value Guides combine to cover 17 model yearsa longer span than either Black Book or Red Book. And, mileage, condition of the used vehicle and other options are also considered in determining the value. The make, model and year of the vehicle are used to determine the value. Analyzing collected data from auction houses around the country. Looking at current market conditions and seasonality. The Kelley Blue Book determines the value of a vehicle by: Unfortunately, with the ever-changing market today the used car blue book value that you are getting may not be accurate. The Kelley Blue Book value is one of the oldest resources around for determining the value of your used vehicle. ![]()
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