What is kelley blue book

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What is the purpose of Kelley Blue Book?

The term “Blue Book Value” refers to the value of a vehicle by a guide known as the Kelley Blue Book. The guide not only lists the value of new vehicles, but it also lists used car values. Since the 1920s, the Kelley Blue Book has served as a standard within the auto industry in the United States.

What is a NADA value?

The NADA value is the value of your vehicle based on many different value factors. This depends on whether it is the auction value, trade-in value, private party value, or even the used car dealer price. … The prices are compiled from actual purchase information and are regularly updated.

How is blue book value calculated?

The Kelley Blue Book Private Party Value reports on a fair price when selling the car to an individual instead of doing a dealer trade in. … Kelley Blue Book Values reflect local conditions in over 100 different geographic regions and are updated weekly to give consumers the most up-to-date used car pricing information.

How can I find the value of my car?

The Kelley Blue Book price is a trademarked car valuation from KBB. Many people use this term, along with “Black Book” or “Edmunds TMV.” They’re all terms used to describe the estimated market value of the vehicle in question. This price is used to determine what to pay for a new or used car.

How accurate is Kelley Blue Book?

Is Kelly Blue Book accurate? The short answer is no. Let me explain what goes into these price guidelines. Dealers use Kelly Blue Book to establish the value of trade-ins as well as comparing numbers to set their lot prices.

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Who created Kelley Blue Book?

Leslie Kelley

Do dealers use KBB vs Nada?

Kelley Blue Book and Edmunds are two of the most well known used car pricing guides in the United States. There is also another: NADA—but, NADA is usually used by banks or car dealers to show you an inflated price value. Therefore, you should never use NADA books for real references.

What does nada mean?

National Automobile Dealers Association

Which is better Kelley Blue Book or NADA?

NADA pricing is often higher than Kelley Blue Book since the algorithm has a standard that calls for all trade-ins to be in very clean condition. As a result, you may need to adjust NADA prices down. J.D. Power: Although the ratings are only for new cars, the used car search provides dealer pricing based on ZIP code.

What is Red Book Value?

Canadian Red Book is the vehicle valuation guide used to determine the wholesale/book value listed on the Used Vehicle Information Package at Service Ontario (MTO). The wholesale/book value is determined by calculating the average selling price of vehicles of the same year/make/model/trim at dealer auctions.

How do you buy good used cars?

How to Buy a Used Car

  1. Set your budget.
  2. Choose the right car.
  3. Check reliability and ownership costs.
  4. Locate good used cars.
  5. Price the cars.
  6. Check the vehicle history report.
  7. Contact the seller.
  8. Test drive the car.

What time of year is best to buy a car?

Christmas Eve, New Year’s Eve, New Year’s Day

Many car-buying experts say the best day of the year for car buying is the very last day. Monthly, quarterly, and annual sales targets all converge on Dec. 31, so great deals abound.

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What is the best online car buying site?

The 10 Best Websites to Buy and Sell Your Car Online

  • To See What Other People Paid: TrueCar. …
  • If You Want To List for Free: Craigslist. …
  • The Old Standby: Autotrader. …
  • If You Want To Pick Up a Car From a Futuristic Vending Machine: Carvana. …
  • For Virtual Test Drives: RelayCars. …
  • The Way It Should Be: Vroom.

Can you negotiate a used car price?

Whether you’re negotiating to buy a used car from a private party or a dealer, learning a few simple concepts can save you a lot of money. … Get the numbers: Look up the car’s current market value. Make the right opening offer: Keep your offer low, but realistic. Make a counteroffer: Sweeten the deal, but not too much.

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