In regard to buying or selling a vehicle, it is important to determine the accurate valuation of the car. How do you estimate the correct valuation of your car? Well, this is when you need to go for Kelley Blue Book. This book has been a household name for the last 100 years to determine vehicles’ valuation. Kelley Blue Book, aka KBB, is your go-to resource for knowing a car’s true valuation. Today, in this blog, you will get to everything about this book in a comprehensive manner.
Kelley Blue Book: What Is This?
The Kelley Blue Book saga started in 1926 when Leslie Kelley, a car dealer from Los Angeles, compiled a blue notebook containing information on used vehicle values based on his market research and experience. This was the inception of Kelley Blue Book, which quickly became popular and eventually became an industry standard.
Fast forward a few decades, the Kelley Blue Book turned into a gold standard for knowing a car’s worth. In the 1990s, KBB.com was launched, where people got to access useful information on vehicle values. At present, Cox Automotive, a major automotive services company, owns the Kelley Blue Book. Over the years, the legacy of this book has only been strengthened.
What Makes Kelley Blue Book So Valuable and Important?
There are a bunch of reasons why Kelley Blue Book is so valuable among car dealers, users, and individuals.
Accurate Valuation of a Vehicle – Kelley Blue Book
This book has become a benchmark for sellers, buyers, and dealers to determine a car’s true worth. It ensures a transparent and fair dealing of cars, satisfying both parties.
Trusted Resource – Kelley Blue Book
Over the years, Kelley Blue Book has truly become a trusted and reliable source for knowing the car’s true valuation. This is why sellers, buyers, and dealers across and beyond put their trust in this book while trying to know a vehicle’s worth and valuation. It helps them to make an informed decision while buying or selling a car.
Comprehensive Data – Kelley Blue Book
You get to access comprehensive data and information on different aspects of this book, such as depreciation rates, market trends, and other aspects. It enables you to know the right pricing of a car.
User-Friendly Tools – Kelley Blue Book
Kelley Blue Book comes with user-friendly tools and components suitable for both automotive experts and novices who want to know the valuation of a vehicle.
Determining the Value of a Car
If you wish to access the actual valuation of a car with the help of Kelley Blue Book, then you can easily it. The estimated price depends on several factors associated with the vehicle. All you need to do is follow the step-by-step methods described below.
Model and Make
The first factor that you are required to consider is the model and make of the car that you wish to buy or sell. Popular models and brands retain a higher value than discontinued or niche ones.
Condition
The present condition of the car is another aspect for you to consider. The price tends to go higher to lower from ‘excellent’ condition to ‘poor’ condition. Hence, you need to assess the condition of the car thoroughly.
Year of Manufacture
The year of manufacture is an essential factor for you to check while assessing the car. The newer the car, the higher the price you are to pay or get while buying or selling.
Mileage
Cars with higher mileage come with lower valuations for obvious reasons. The opposite is also true. The reduced tear and wear is the main reason behind this.
Market Trends
Various market trends, such as seasonal factors and regional demand, can also significantly impact the valuation of a car. For example, you are supposed to find an increased demand for SUVs during winter.
Steps to Use the Kelley Blue Book
Using the Kelley Blue Book is an easy and useful method. You would benefit from consulting this book to assess the true valuation of a car prior to buying or selling the car.
Visit the Website
You are required to visit the website. Accessing this in the form of an app from your smartphone is another option for you to consider.
Know Your Purpose
It is important for you to know the purpose of consulting the Kelley Blue Book. There are different tools and components provided for selling, buying, or trading in a vehicle. Opt for suitable tools according to your needs.
Put the Car Details
Now, you are supposed to input various details of the car that you wish to buy, sell, or trade-in. Put model, make, condition of the car, year of manufacture, etc. If you wish to trade in cars, then you need to provide details like the ZIP code and mileage of the car.
Review Valuations
Upon providing all the details, the system will give you different values like suggested retail price, private party value, and trade-in value.
Compare and Make a Decision
Upon considering different valuations of a car by the Kelley Blue Book system, you can compare the different prices to strike suitable deals. It also helps you to better understand various market trends.
How Kelley Blue Book Helps Buyers?
Using the Kelley Blue Book, a buyer gets to find a suitable vehicle in the best condition within his/her budget. As a buyer, you just need to search for ‘KBB cars’ to get the following insights:
The Pricing of New Cars
You get to access MSRP (Manufacturer’s Suggested Retail Prices). Then, you can compare those prices with different dealer quotes to find the best option.
The Values of Used Cars
It also enables you to know the fair value and worth of pre-owned vehicles. This is how it helps you to make informed decisions.
CPO (Certified Pre-Owned) Cars
The Kelley Blue Book also offers you detailed insights on CPO (Certified Pre-Owned Cars). Thus, you will get information on warranties and other aspects. It enables you to make the right decision when buying a car.
How Kelley Blue Book Helps Sellers?
If you are planning to sell a car, consulting the Kelley Blue Book would be helpful in several ways. You would get to understand a competitive asking price. This book can help you with the following:
Setting a Realistic Price – Kelley Blue Book
You get to set a realistic price for your car without undervaluing it,t which attracts potential buyers.
Evaluating Trade-In Offers – Kelley Blue Book
It becomes easier for you to ensure that you get a fair and good trade-in price while trading in.
Advertising Effectively – Kelley Blue Book
You also get to specify the KBB value in the listing to attract genuine buyers and build their confidence.
Additional Features
Other than accessing useful valuation tools, there are several other features that you can access in Kelley Blue Book.
Expert Reviews
Getting expert reviews on different aspects of a car immensely helps you. Their feedback on aspects like features, safety, and performance pays off for you.
Vehicle Comparisons
You also get the chance to compare different cars side-by-side to find the best option as per your needs and preferences.
Calculating Ownership Cost
The Kelley Blue Book also helps you calculate the cost of ownership in the long term, such as fuel, depreciation, and maintenance expenses. This is how you get an overview of all the future expenses associated with a vehicle.
Dealer Ratings
Getting ratings from trustworthy dealers on different cars also helps you make informed decisions while buying or selling cars.
What are Some Alternatives to This Book?
There are some alternative options that you can go for when it comes to knowing the valuation of a car.
- NADA Guides: It focuses on dealer pricing and helps to determine valuations accordingly.
- Edmunds: You get to know about different automotive tools and car reviews.
- Carfax: It offers details on car pricing and its history reports to help you make informed decisions.
Conclusion
Opting for Kelley Blue Book will be immensely helpful and beneficial while determining the true valuation of a vehicle. This book acts as a cornerstone of the automotive industry, helping buyers, sellers, and dealers in the best way possible. It has been proven as a trusted source for determining the worth and pricing of different types of cars. Buying or selling a car without consulting Kelley Blue Book would be a foolish act. So what are you waiting for? Consult this book today.
FAQs
Why Should You Consult the Kelly Blue Book?
Ans: The Kelly Blue Books help you determine the true valuation of an old or pre-owned car. You get accurate information on the KBB value of a car.
How Does the Kelly Bluebook Help You Determine the Accurate Valuation of a Vehicle?
Ans: The Kelly Blue.Book helps you gauge different factors like the age of the car, condition, mileage, market trends, and other factors in determining its actual valuation.
Can You Trust the Information Given in Kellybluebook?
Ans: The Kelly BlueBooks has been used as a benchmark to calculate the true worth of a car for around 100 years. Hence, you can trust KellyBlue Book without worrying at all.
Who All Gets Benefitted by Kelley Blue?
Ans: Buyers, sellers, and buyers benefit immensely from the Kelly Book. This is why you must check out the KBB Blue Book.
Is Kelly Blue Useful Outside America?
Ans: Yes, buyers, sellers, dealers, and other individuals also use this book to learn about KBB cars. This is how people outside the USA also benefit from this book.
