The Kelley Blue Book (KBB, kbb.com) has been helping car dealers and buyers for almost a century, by providing an objective value: the KBB used car value. In the early 1920s, car dealer Les Kelley distributed a list of automobiles and the prices he was willing to pay for each to other auto dealers and banks.
His lists increased in popularity and eventually grew to the extensive guides available today.
The Kelley Blue Book was sold in printed form for decades and made its online debut in the 1990s. Today the website, as well as mobile apps, offer a wealth of information free of charge for users.
The KBB value of a used car is a useful tool for both buyers and sellers. It helps both parties determine a reasonable price. This unbiased value is undeniably essential in determining if you’re getting a fair deal.
How is the Kelley Blue Book price determined?
The KBB used car value is determined by numerous factors, including:
* Zip code
* Options such as air conditioning, power steering and entertainment systems
The are several aspects of a KBB estimation:
1. The Suggested Retail Value is the starting point of negotiation between a dealer and a seller and assumes that the vehicle has a clean title history and has been fully reconditioned. The actual selling price will usually be less than Suggested Retail Value.
2. The Private Party Value is the part of a KBB value of a used car that is most often used in private sales. It’s what a buyer can expect to pay for a particular vehicle “as is” without a warranty.
3. The Trade-In Value is an amount that would be fair to receive when trading in a car at a dealership. Most often, the Trade-In Value is lower than the Private Party Value, due to the costs of running a business.
How do I find out the KBB price on a car?
It’s quick and easy to find the KBB used car value of the automobile you’d like to offload or purchase. Just go to their website and answer a few questions, and in mere minutes you can know how much a vehicle is worth. The values are updated weekly, so you’ll know you’re getting an up-to-date figure.
The Kelley Blue Book doesn’t just list values for cars, trucks and SUVs, however. It also lists the worth of motorcycles, personal watercraft and snowmobiles.
If you’re considering buying or selling a used car, check the KBB used car value first! Know what the car is really worth so you can know if you’re getting a good deal.
How do you determine used car values when buying or selling?
If you’re looking to buy a used car find out how to get a good deal.
Find out how to sell a used car and get the most you can for it.