Black book vs kelly blue book trade in values fremont motor. They have been around since 1918, while black book. How to determine a car s fair market value for an estate. This indispensable industry resource offers pricing and specifications on current model year vehicles. The difference between kelley blue book and nada tradein. They also have the data available on computer for a fee. Kelley blue book is more for the consumer to get a hold of the information.
As a consumer you want the kbb, while a dealer looks more at the. How do i used the kbb value to negotiate with the dealer. I am a fairly new dealer in this used car business, and have faced numerous obstacles and difficulties getting my business off the ground. How the wholesale value is used dealerships use the kelly wholesale blue book value when buying cars from. Used car pricing how do i know what is the actual fair market value of my car. Kelley wholesale blue book value, kbb used car invoice. A financial exchange whereby each party feels like they totally screwed the other kelley blue book is an excellent resource to ballpark the current value of a. If the estate you are settling includes one or more vehicles, it is important to report their fair market value accurately. Apr 03, 2014 remember how the kelley blue book and similar websites are only acceptable in the united states market. Most dealers use black book which is based on auction sales.
Dealers can use both kelly blue book and nada values depending on their preference. 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. Nadabut, nada is usually used by banks or car dealers to show you an inflated price value. This is an as is value that does not include any warranties. Black book and kelley blue book are both usedcar pricing guides. Using the kelley blue book is a great place to start when youre searching for. Shop for new cars and used cars at kelley blue book. The black book is usually a culmination of values from the dealer auctions. 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. In 1993, the blue book was finally released as a consumer guide. According to lynn faeth, referring to the used car operation of his nationallynoted the scout connection dealership in fort madison, iowa, i use the kelley blue book and the black book for used car valuation.
Sep 25, 2014 kbb is the wholesale valuations and average market valuations for the united states. Instead, many rely on national auto researchs black book or the manheim market report, neither. Find and compare thousands of new, used, and cpo cars, and get the kbb fair purchase price for the car you want to buy. Drivers can find out the value of their used cars by typing in the car s year, make, model and mileage into the kelley blue book website. The black book is one of the main sources of data car dealers use to set prices for used cars and tradeins. What is the difference between kelley blue book and kelley. If you want to know what the dealers know when buying a used car, the black book mobile application is a great tool to use. Did you get the kelly blue book value on your tradein. By providing current car values as well as forecasting predictions, black book values is uniquely positioned as an onestopshop for businesses that need to accurately manage and weigh risks. The kelley blue book used car value is used on sites like autotrader. Whats the difference between kelley blue book prices and black book prices. Depending on the method of disposal, there actually may be more than one blue book value for the consumers car. In 1962, the kelley family sold off their dealerships and focused entirely on the blue book.
How does kelley blue book determine the value for a given. Though seemingly similar, the black book and kelley blue book serve slightly different purposes. Consumers are apt to run across black book values only when they sell their cars to vehicle resellers. Lately whenever i go into the dealership, they always seem to reference the blue book. Kelley blue book does not guarantee its price valuations. Since those early beginnings, kelley blue book has become the gotochoice among both dealers and. All you need to do is click the button below and tell us about your vehicle. 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. Used car pricing how do i know what is the actual fair. Both books claim to be the more accurate source of used car pricing guides. Black book used car values automotive data with black book.
If you plan to sell your car yourself, youll want to also research the kelley blue book private party value, which. Nada blue book values for used cars, certified preowned cars and more, brought to you by the national automobile dealers association. Nada but, nada is usually used by banks or car dealers to show you an inflated price value. 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. Itll show you what you can reasonably expect to pay this week in your area for a. Black book updates its online information daily while kelley blue book or kbb, updates its information weekly. Dealership new scam, nadablue bookblack book value. Go auto has a long history of working with canadian black book, so we can do the legwork for you. Fortunately, you have a number of valuable resources at your disposal to help you determine just how much a particular 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. 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 have a used car picked out that i am likely going to purchase sometime this week if all goes well. Therefore, you should never use nada books for real references. May 14, 2009 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 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. If you dont know how to use this powerful internet tool to help your customer. Mar 23, 2018 kelley blue book vs edmunds used car price guide most individuals buying or selling cars will use mass market guides to help gauge market prices. How to determine a cars fair market value for an estate. Even if you do get a fair price on a trade in, you will lose that money on the other side of the deal. Kelly blue book will buy your customers tradein, just not at the value they gave your customer. 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. From used car lots to new car dealers, they all claim to sell cars at or below blue book while. The kelley blue book is a car valuation guide for new and used.
Car dealers use kelley blue book used vehicle pricing information to set used car prices and values. Regardless of mitigating factors like an economic downturn, you still want to get a basic idea of the value of your rv. If you dont know how to use this powerful internet tool to help your customer better understand. Similar to nadaguides, values published by kelley blue book rely on a constant flow of pricing information from various industry sources.
The kelley blue book has become one of the major merchandising devices of modern vehicle selling. Black book values focuses on data points that can help lenders and dealers better identify vehicles with lower risks and higher potential profitability. For over 90 years, kelley blue book has been the trusted resource for used car values, helping car owners understand what their used car is worth. Edmunds also has a free car appraisal tool that helps you calculate what the retail price for a used vehicle should be. They look to a number of resources other than their canadian black book when looking for values and other pertinent car. 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. Solutions for consumers if you use kbb as a general guide and follow the suggestions below, kelley blue book. However, kelley blue book has the most userfriendly online usedcar price search engine available and it takes only a few minutes to look up values. What is the difference between black book value and kelly. Just as consumer use other places to search for car information other than that listed in the kelley blue book, canadians do the same thing. Usually, those who use one are also familiar with the other. Itll show you what you can reasonably expect to pay this week in your area for a used.
We use real values of local cars for sale by other franchised dealers to provide a more accurate instant market value estimate of your used car. The kelley blue book gets more traffic when it comes to being used by buyers. Get the kelley blue book value for your used car or tradein vehicle, find tools to help you with buying or selling, and even get a cash offer from a dealer in your. Kelley blue book values blue book values kbb vs nadaguides. Roughly 20 million unique visitors per month log on to the kelley blue book website. Kelley blue book is the most trusted third party automotive brand. If you have experience valuating other vehicle types, youre probably used to heading to the kelley blue book or edmunds to get a sense of what your car.
Oct 07, 20 car dealers are experts when it comes to deciding a tradein price. Most dealers do not use kbb for tradein wholesale values. Car dealers are experts when it comes to deciding a tradein price. In 1918, les kelley, a businessman from arkansas, founded a car dealership with no.
By providing current car values as well as forecasting predictions, black book values is uniquely positioned as an onestopshop for businesses that need to accurately manage and weigh risks associated with their physical inventories and lending obligations. Before purchasing a used car, it is necessary for consumers to check the current value of the used car they choose. How do you find the kelley blue book value of used cars. Traditionally dealers have relied upon black book for determining how much they should pay for tradeins. 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. It is used by most banks and dealers to find out the exact worth of a car. Edmunds originally published information booklets for car buyers and started its website the same year blue book did, in 1995. Spread the love are kelley blue book values reliable and accurate. Black book data and mobile apps black book used car values. When buying a used car, its usually hard to know what a fair price is. Car dealers use the kelley blue book to set their retail prices.
Thats why it makes sense to stay close to the kelley blue book values. 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. Kelly blue book, nada, private seller or black book which is the true used car value. The label also included the blue book price and the kelley blue book official seal. But the black book cpi is my mainstay in determining the true value of any rare or unusual vehicle which i buy or sell. It may make you scratch your head, but car dealers do not use the blue book trade in value when figuring the actual cash value acv of your trade in.
Get used car values from black book with our car pricing guide and compare black book to kbb and nadaguides, two other popular valuation sources. It gives you an idea of the asking prices you might see on dealer s lot. 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. When buying or selling a used car, many people rely on the kelley blue book kbb, which has been around for more than 90 years. Kbb is for the stupid public to think they can know real car values. Lynn faeth, owner of the scout connection dealership in iowa, had this to say on the two uses.
Used car values, price guide and tradein estimator. Do dealers use the kelley blue book value when your. By joining the kelley blue book dealer data program, you have the. While blue book and black book dont compete directly, blue book does compete with. Black book and nada are much closer to what the cars would sell for most banks use nada to determine your max. The blue book increased in popularity as well, moving beyond its regional boundaries and becoming a nationwide car value guide for dealers. Kelley blue book reports used car values for a variety of buying and selling transactions. Can i realistically get the kelley blue book price. It specializes in estimating the wholesale value of vehicles, which dealers can use to ensure that they make a profit when buying and selling used cars. Black book provides the wholesale or auction value of your car, which is the amount a dealer might pay for it. 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. May 12, 2012 the response quora user provided is spot on. From used car lots to new car dealers, they all claim to sell cars at or below blue book. Havent visited the dealer yet just using the tools on their web site.
According to lynn faeth, referring to the used car operation of his nationallynoted the scout connection dealership in fort madison, iowa, i use the kelley blue book and the black book for used car. Since those early beginnings, kelley blue book has become the gotochoice among both dealers. These books are both good for valuing cars, but they are on opposite sides of the spectrum. Kelley blue book and the black book are two major resources available. You have to consider not just the type of vehicle, but the vehicle condition, mileage and options. Black book used car values kelly black book nadaguides. Typically, consumers use kelley blue book while dealers tend to use the black book. What do dealers really mean when they refer to the blue book price. If youre buying a used car at a dealership, start with the typical listing price. The most commonly used are the kelly blue book, and the edmunds used price guide. The blue book trade in value is available for free on kelley blue book values what has a value and what doesnt. Its the goto source for retail and invoice values of domestic and import cars, lightduty trucks, vans and sport utility. Black book is the canadian version and is what the dealers use to assess wholesale value of a vehicle.
I use the kelley blue book and the black book for used car valuation. Dealers will occasionally use the retail blue book value, but rarely, if ever, use the last two values. Both can be valuable sources of price data as you approach the bargaining table on your next used car. Black book acquires their pricing data from wholesale auctions, and retail. Mar 16, 2016 kelly blue book will buy your customers tradein, just not at the value they gave your customer. Visit canadian black book and select a make and a model to find the right car that suits your need. 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. Dealerships have to make a profit, so you cannot expect to get a fair kelley blue book price. Good thing kelley blue book has over 90 years of experience with used car.
Its important to understand these differences as dealers may use more than one valuation source in formulating an offer for a potential tradein. The used car prices black book and blue book values serve different purposes. The blue book is a great tool for consumers and dealers alike, and helps people buy used cars at fair prices every day. The kelley blue book and black book are both price guides for used vehicles, but theyre used in radically different ways. How do car dealerships use kelley blue book kbb values. Feb 28, 2020 when buying or selling a used car, many people rely on the kelley blue book kbb, which has been around for more than 90 years.
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