Should you pay blue book value used car

Will a dealer ever pay full kelley blue book trade in. Feb 28, 2020 kelley blue book is a very good resource, but it should not be the only one you consult. Drawing from thousands of actual sales and powered by 90 years of industry knowhow, the kelley blue book used car fair market range and fair purchase price will help you evaluate if youre. When buying a used car, its usually hard to know what a fair price is. He immediately knows you havent done your homework and will be easy prey. The blue book is the vehicle information resource used by consumers and the automobile industry to establish price guidelines. Kelley blue book is used to calculate car values, traditionally for dealers. You have to consider not just the type of vehicle, but the vehicle condition. At one time the blue book value was a used car insiders term like cream puff or. Kelley blue book gives you everything you need to value your current car and find your next one. Likewise, you should not expect to pay the full kelley blue book value for a car in most cases. Private parties asking way above kelley blue book lease.

If you didnt do that, and they managed to get 2x the blue book value out of you, one can only say my condolences and caveat emptor let the buyer beware. Go auto has a long history of working with canadian black book, so we can do the legwork for you. In addition to taking a vehicles year, make, model, mileage, location and condition into consideration, carfax historybased value is powered by vehiclespecific data thats unique to carfax and tied directly to each car through its vehicle identification number vin. Keep in mind that most used vehicles are sold below asking price, depending on local market conditions. With this knowledge, you will have the confidence that you are getting a vehicle that will meet your needs as well as the necessary information to negotiate effectively. Nada blue book values for used cars, certified preowned cars and more, brought to you by the national automobile dealers association. For new car shoppers, the kelley blue book fair market. 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. Based on actual sales data, tmv is a guide to what other people in your area. Vehicle history is an important factor in determining a cars value. Black book used car values new cars, used cars, car. You may even want to take off 50% of the value since if an insurance company totals it out it is not. The privateparty value indicates the price a consumer might pay to buy the car from you directly. Checking both nada and kelly blue book for prices is a good starting point but a prudent offer should be based on several other considerations such as.

Can i realistically get the kelley blue book price. Estimate used car cost on a dealers car auto cheat sheet. For example im thinking about buying a 2000 acura tl 3. Kelley price guides are used throughout the auto industry to cite car values, but consumers need to dig a little deeper to determine reasonable purchase prices for used cars. Kelley blue book or kbb is a respected used car price guide often quoted by used car dealers to demonstrate that prices of cars on their lots are fair. The insurance company may use a software program to calculate your vehicles acv or internet sites, such as kelly blue book and national automobile dealers association used car guide nada. Dec 12, 2019 the retail value of your car is the price you might ask for it or the estimated price of your car if a used car dealer sells it. Can insurance companies pay less than blue book value for a. For new car shoppers, the kelley blue book fair market range and fair purchase price go beyond widely available new car prices like msrp and dealer invoice to show you what you can expect to pay for a new car in your area this week. By simply filling in a little information year, make, model, mileage, and vehicle condition kelley blue book will estimate the car s value, which in turn can be used during any one of a myriad of buying decisions. Paying over blue book value for a private party used car. Jan 24, 2019 the insurance company is only obligated to pay the actual cash value acv of the vehiclethe amount you will need to purchase a comparable used vehicle.

Get used car values with edmunds car value appraisal tool. The kelley blue book used suggested retail value represents the average dealer asking price. The kelley blue book is the most popular usedcar buying guide. Apr 08, 2020 with kelley blue book, you can visit one website to gather all the details you need to ensure that you are getting the best deal on a new car or the best price for an old one. This is the figure youll find in pricing guides and usedcar pricing websites, which lists a vehicles. This is what the car dealership paid for the vehicle.

Nadaguides national appraisal guides and kelley blue book both have a long history devoted to providing consumers and businesses with accurate vehicle pricing information. Should you sell your car yourself or accept kelley blue. All you need to do is click the button below and tell us about your vehicle. Even if you do get a fair price on a trade in, you will lose that money on the other side of the deal. Jun 30, 2018 the different prices provided in the blue book can be used by a dealer as a negotiating tool to get you to pay more for a car, or it can be used by you to get a lower price. The different prices provided in the blue book can be used by a dealer as a negotiating tool to get you to pay more for a car, or it can be used by you to get a lower price. For what you might actually pay for that used car, use the kelley blue book fair. With other car evaluation companies like edmunds, nada, and black book which often lists lower prices than kbb, it will be hard to convince someone to pay that muchespecially if you cannot accurately judge car quality and market pricing yourself. Get used car pricing and explore thousands of car listings at kelley blue book.

Here are some key usedcar pricing terms youll encounter as you shop. Are people really paying those premiums in this high priced used car market. You can even find out a detailed number based on options and extras, as kelley blue book allows you to select what features are included on the car you re considering. Get used car, truck and suv values with edmunds car value appraisal tool. About the kelley blue book value on used cars sapling. Traditionally dealers have relied upon black book for determining how much they should pay for tradeins. Im shopping for a used car and almost all of the cars i see are asking for two or three thousand more than their kelly blue book value. Search for your next used car at, the site you trust the most. Whether you re trading your vehicle in at a dealer or planning to sell it, edmunds makes it easy to understand your car s. We provide the blue book suggested retail value of models dating back 21 years. Review and research your used car values on nadaguides. Select up to four vehicles to compare pricing, mpg, specs, pictures, safety features and warranty coverages.

Once you figure out how much your payment should be, research your. Proudly serving buyers and sellers of various vehicle types, both companies calculate and publish vehicle values based on proprietary methods. May 02, 2009 next time you go to a used car lot you should bring a copy of the kelly blue book so that you know what the approximate value is of the car you re thinking of buying. When a car dealer hears you say, whats the blue book value. Whatever your vehicle type, owners should maintain the vehicles condition to retain as much value as possible. Should i pay more than kbb or should i negotiate a price close to kbb value. Then theres the loan value, the amount you can expect the bank to loan you on a given car. Kelley blue book how does it compare to market value. Kelley blue book values blue book values kbb vs nadaguides. But, like all generalizations, there are numerous details for w. Ive never purchased a used car so is it customary for people to list their cars for more kbb. See the latest and greatest features of the newly redesigned cars, trucks and suvs headed to a dealer near you in 2019. So one way you can try to determine the value of a salvage vehicle is to get a rough idea by looking up the worth of the model vehicle with a clean title in an automobile guide such as kbb or nada and then take off 40 percent of the value. Simply go to kelley blue books website, click what should i pay for a used car.

Determining the fair market value of a used car is easy with the kelley blue book used car pricing guide. Its a reliable point a to b vehicle that should last you many years. The fair market range and fair purchase price are based on massive amounts of data, including actual. Black book provides the wholesale or auction value of your car, which is the amount a dealer might pay for it. Still doesnt make it worth more than what its really worth though. Sites like kelley blue book or edmunds are good examples of resources that can help you with your estimation. Dealerships have to make a profit, so you cannot expect to get a fair kelley blue book price. If you plan to sell your car yourself, youll want to also research the kelley blue book private party value, which is typically higher than tradein value. The first step in assessing a used vehicles true worth is to check its book value. Although none of the top used car buying guides is perfect, when taken together along with additional. My damaged car is a total loss what are my options. May 06, 2020 whether you re buying or selling a car, truck or suv, you cant get away from what wed call blue book mania. Can insurance companies pay less than blue book value for. Should i pay more than kelly blue book value for a car.

Kelley blue book used pricing guide used cars for sale. Bringing almost 90 years of experience in creating vehicle valuations to consumers in the u. Did you get the kelly blue book value on your tradein. Jeep cj7 questions how much should i pay for a 1984. Since 1926, new and used car buyers and sellers have relied upon kelley blue. 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. How common is it for people to pay over blue book value for a car sold by a.

Aug 15, 2006 theres the wholesale value, which is the figure car dealers use when deciding how much to bid for a given car at a wholesale auction. Then there are the feesa fee youll pay if you exceed a certain number of miles or have excessive wear and tear on the car, a fee youll pay if you decide not to buy the car when your lease is up, and a fee youll pay if you do decide to buy it. If youre buying a used car at a dealership, start with the typical listing price. The kelley blue book price advisor is a rangebased pricing tool to help car buyers and sellers talk about price realistically. Salvage title, rebuilt title value on the dollar car. It gives you an idea of the asking prices you might see on dealers lot. Kelley blue book is a very good resource, but it should not be the only one you consult. Itll show you what you can reasonably expect to pay this week in your area for a.

Research from a recent cox automotive car buying journey study. Jun 25, 2019 the blue book or kelley blue book lists new and used car prices, helping car buyers determine the fair market value and tradein value of automobiles. May 16, 2019 the kelley blue book is considered to be a helpful resource for determining the monetary worth of a car, but it is not a definitive guide. The kelley blue book private party value is the starting point for negotiation of a usedcar sale between a private buyer and seller. If youre searching for used car pricing information, then youll want to use the most trusted source in the car business.

Data black book acquires their pricing data from wholesale auctions, and retail. To determine what a fair price would be for a used car for sale, either at a dealership or by a private seller, check our appraisal tool for its true market value. Used car values, price guide and tradein estimator. In fact, the final sale price will likely be less depending on. All that adds up to a good deal for the dealernot for you. When it comes to realizing the blue book price when selling a used car outright, sellers often find their expectations are set too high. How much more than the blue book value can a dealership. How does an insurance company decide on the value of a. Whether youre trading your vehicle in at a dealer or planning to sell it, edmunds makes it easy to understand your cars. This is an as is value that does not include any warranties. You can find both new and used motorcycle prices and values in addition to boat values, and rv values. This is the book most people refer to not realizing there are many other used car value books in the industry. How to negotiate the diminished value on a car sapling.

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 vehicle. Keep in mind that this should serve as a starting point for negotiations and is no way representative of the final amount you should pay. For what you might actually pay for that used car, use the kelley blue book fair market range as a guide. Thats because factors such as odometer reading, equipment and colour can directly impact the value of cars. How much more than the blue book value can a dealership sell. Values and pricing faqs new car prices and used car book values. Ultimately, whether its black book or kelley blue book used car values. Along with higher car prices, car loan balances and average loan lengths have grown to more than five and a half years, with a growing number of cars now.

Youll discover a value based on reallife market data, auction data and similar cars for sale. With so many variables, its difficult to know the right price to pay for a car. The fair market range and fair purchase price are based. Dealer bluebook pricing from the 1950s to the early 1990s, kelley blue book provided used car price information only to dealers. Determining how much a vehicle is worth is an important part of the process of paying a total loss claim, and it involves a fair amount of research. First, estimate the value of your car without repairs. Mar 28, 2017 yet the fair prices for used cars can be tough to sort out if you rely on a kelley blue book guide to check car values. Whats my car worth used car trade in values and resale. The final sales price depends on the cars actual condition and local market factors. Paying over blue book value for a private party used car vehicle. If youre not sure of the market value of your car and arent sure whether youre driving a genuine clunker, check edmunds used car appraisal tool or its kelley blue book value. Kelley blue book isnt just a book its now an easytouse website that helps you determine exactly what to pay for the car youre interested in buying. While a low retail value indicates that the car shows signs of being well used, a high retail value indicates that the vehicle is in better condition.