Understanding Vehicle Values
Most people of driving age have heard of Kelley Blue Book, in fact, Kelley is the place most of us turn when we’re looking for information concerning the value of a vehicle. Not only is Kelley Blue book used by the general population to determine vehicle values, but it’s also used by professional lending institutions as well when considering a loan to a private party for a new or used car, truck or SUV. When it comes to market value, Kelley’s word is golden; the companies’ online guides are the leading source of information on the market value of new and used vehicles.
When Kelley first published its Blue Book in 1926, it was simply a price guide with a basic list of cars and prices. Today, Kelley offers guides for new cars, used cars, older cars dating back to the 1940s, as well as motorcycles and recreational vehicles like motor homes and camping trailers. Much of this information is available free from the Kelley Blue Book Web site.
The Kelley Blue Book New Car Guide contains pricing information on cars for the current model year, including:
• MSRP (Manufacturer’s Suggested Retail Price)
• Dealer’s cost
• Extra costs that may be involved, such as shipping the car
• Pricing schedules for various options that buyers can select
There are three kinds of values for motor vehicles:
• Retail Value
• Trade-In Value
• Private Party Value
Retail value is the price an auto dealer will ask for the vehicle.
The trade-in value represents a price the owner of a vehicle should expect to receive from a dealership.
A private party value is a price negotiated between a private buyer and a private seller.
The Kelley Used Car Guide has tables and charts to assist in calculating the price based on the condition of the vehicle, mileage, and optional equipment and components. It also describes how these things influence the overall value of the vehicle. Information on older used cars is also available.
The Kelley Blue Book Web site has become one of the most visited sites on the Internet and information is free for everyone to search and use.
Check out Kelley Blue Book online whenever you’re in the market to trade, sell or buy. It guarantees a wealth of information for every car on the market today and also offers news and reviews on today’s green car trends.
- There are no related posts.
[...] Kelley Blue Book recently announced an awesome new feature to their website (kbb.com), which allows consumers to see at a glance which cars are the best buy of the week. [...]