Vehicle blue book value

At one time the Blue Book value was a used car insider's term like 'cream puff' or 'cherry', but today the phrase is, uh, vehicle blue book value, all over the lot. The Kelley Blue Book has become one of the major merchandising devices of modern vehicle selling. From used car lots to new car dealersthey all claim to sell cars at or below Blue Book while buying your trade-in well above Blue Book! What, actually, is a Blue Book?

That's why a third-party source like Kelley Blue Book is important. Kelley Blue Book has been an independent source of vehicle values since its founding in And the fact that it is an independent source of information is important. Without an established, independent source of vehicle values, each used car price negotiation would be infinitely more complicated. That information is important to consumers and used-car dealers, and it is also important to others who need it — financial institutions, insurance companies, and governmental agencies. For the used-car pricing information to be useful, it must be accurate, if not "penny perfect.

Vehicle blue book value

The Blue Book or Kelley Blue Book is a guidebook that compiles and quotes prices for new and used automobiles and other vehicles of all makes, models, and types. First published in by Los Angeles car dealer Les Kelley, the Blue Book was originally only available to those in the automotive industry, but both a consumer edition and an online edition was made available in the s for the general public. The Blue Book provides a fair market range reflecting an estimated range of prices car buyers will pay for a specific car based on make, model, style, and year. Blue Book has become the premier appraisal guide for vehicle price quotes in North America. Car sellers and car buyers will consult the Blue Book to determine the resale value of used cars. Kelley Blue Book also provides an actual cash value for vehicles. This can be used to check your insurance company's valuation should you get in a wreck, and potentially negotiate with them. The Blue Book analyzes the private party value, trade-in value, suggested retail value, and certified pre-owned CPO value for used cars. The new car Blue Book shows what consumers are currently paying for new cars. Over the decades, Blue Book pricing guides have been published for a variety of markets—including guides for motorcycles, travel trailers, campers, ATVs, snowmobiles, and manufactured housing. Blue Books show buyers and sellers of automobiles what prices others have paid—the so-called fair purchase price—to acquire vehicles of the same make, model, year, and comparable mileage and use. Furthermore, Blue Books can detail the anticipated costs associated with a vehicle such as fuel, maintenance, repairs, insurance, and financing, along with the anticipated depreciation of its value over time. That way, buyers can see the potential cost to own the vehicle five years out from the date it is acquired.

Get the latest car trends and money-saving strategies, once a week. Blue Books show car buyers and sellers what prices others have paid to acquire vehicles of the same make, model, year, and comparable mileage and use. Submit Comment.

Determining the value of your used car requires more just than a rough estimate. When it comes to trading in your vehicle or selling it to a third party, accurate pricing is important. Without it, you run the risk of asking too much and not finding a buyer or selling it for too little. However, there are many different evaluation resources that you can use. Which one should you be using? Kelley Blue Book began in and has become the standard for used car prices. Part of its popularity came from the fact that they used to publish a physical book that was blue, and it became widely used.

That's why a third-party source like Kelley Blue Book is important. Kelley Blue Book has been an independent source of vehicle values since its founding in And the fact that it is an independent source of information is important. Without an established, independent source of vehicle values, each used car price negotiation would be infinitely more complicated. That information is important to consumers and used-car dealers, and it is also important to others who need it — financial institutions, insurance companies, and governmental agencies. For the used-car pricing information to be useful, it must be accurate, if not "penny perfect. The parties must believe the used-car pricing is reliable if they are going to rely on it as they negotiate and come to a deal. Kelley Blue Book values are derived from massive amounts of data, including actual sales transactions and auction prices, which are analyzed and adjusted to account for seasonality and market trends. Because the auto market has significant regional differences, they are also adjusted to reflect local conditions in over different geographic areas and are updated weekly to give consumers up-to-date used-car pricing information. To gain all the data necessary, KBB uses several key data sources including wholesale auctions, independent dealers, franchised dealers, and private party transactions.

Vehicle blue book value

Need help? Visit our Support Centre. For more information, please visit our Support Centre. Please refresh your page and try again or come back later. Our Value Range tool uses your postal code to find vehicle prices in your area in order to provide an accurate value. Plus, it adjusts for odometer, real-time market fluctuations and location to generate a realistic price range.

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It incorporates the fact that the vehicle is offered with a warranty rather than as-is, which is the way the typical used vehicle is sold. It also provides information on the car's features and options. Nov 9, Featured. It also takes into account factors such as mileage and options, as well as regional differences in demand and supply. Table of Contents. While they no longer distribute a physical book, the Kelley Blue Book remains the gold standard among consumers that want to learn how much their car is worth. So why wait? When it comes to private sales, though, Kelley Blue Book evaluations can be quite valuable. The process starts with a thorough analysis of all collected data, and it is informed and leavened with historical trends, current economic conditions, industry developments, seasonality, and location. Article Sources. Because of factors like these, each used car has a " trade-in value ," a "private party value," and a "retail value. What vehicle are you interested in? Investopedia is part of the Dotdash Meredith publishing family. Kelley Blue Book has been an independent source of vehicle values since its founding in Because the auto market has significant regional differences, they are also adjusted to reflect local conditions in over different geographic areas and are updated weekly to give consumers up-to-date used-car pricing information.

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Who started this whole arbitrary pricing bible? All previous states. The accuracy of KBB values can vary depending on several factors, such as the condition of the vehicle, its location, and the current market demand for that particular make and model. Aug 30, Official. Jeremy Korzeniewski. Use profiles to select personalised advertising. Because the auto market has significant regional differences, they are also adjusted to reflect local conditions in over different geographic areas and are updated weekly to give consumers up-to-date used-car pricing information. We take care of the entire buying process with the dealership, ensuring you get the vehicle you want at a fair price. Kelley Blue Book calls it "a proprietary editorial process. Instead, they simply need to be close enough to give the buyer and seller a common understanding of the limits of the transaction. How Blue Books Are Used. Understand audiences through statistics or combinations of data from different sources.