Diyvehiclerepair
- How much over KBB should I pay?
- Is Blue Book value accurate?
- Is fair market value the same as KBB?
- Does Kelley Blue Book undervalue?
- Do dealers care about KBB?
- Can you sell a car above Blue Book value?
- What Blue Book do dealers use?
- Is Kelley Blue Book or Edmunds more accurate?
- Why is Kelley Blue Book so low?
- How does mileage affect a used car value?
- How long do used car prices stay high?
- What is the most accurate car valuation?
- How often do KBB values change?
- Can I negotiate trade in value?
How much over KBB should I pay?
So no, it is not normal to pay only $1000 to $3000 over blue-book or trade-in value. It is normal to pay more than that, because dealers won't sell their trade-ins for such a low markup.
Is Blue Book value accurate?
For the most part, Kelley Blue Book (KBB) is one of the most accurate sources when it comes to prices for buying and selling used vehicles. ... However, it is just one of multiple sources that folks use to help guide them in the car buying or selling process.
Is fair market value the same as KBB?
The Fair Market Range reflects the range of prices that Kelley Blue Book estimates most people will pay for a specific vehicle this week based on its year, make, model and style.
Does Kelley Blue Book undervalue?
Is Kelly Blue Book accurate? The short answer is no. ... Sometimes it takes a while for the information to get to KBB and reported in their pricing charts. In order to post prices they use an algorithm that takes prices posted on Autotrader which is the most widely used car selling site on the internet (and owned by KBB).
Do dealers care about KBB?
Most dealers do not use KBB for trade-in (wholesale) values. Instead, many rely on National Auto Research's Black Book or the Manheim Market Report, neither of which is available to the public. More important, both tend to skew lower than KBB in wholesale pricing.
Can you sell a car above Blue Book value?
It is not illegal to sell your car above the Kelley Blue Book Value, although you may find that finding a buyer is difficult if you're asking for too much money. Appraisal guides may not take into consideration various market conditions that increase the value of your car.
What Blue Book do dealers use?
While Black Book is mostly used by dealers, Kelley Blue Book (Not spelled Kelly Blue Book without the “e”) is mostly used by individuals looking to trade in or sell their vehicles. Since 1926, Kelley Blue Book has been one of the best-known names in the auto industry.
Is Kelley Blue Book or Edmunds more accurate?
Kelley Blue Book and Edmunds both offer very good general reference information when it comes to current market conditions and price levels for a particular make and model used car or truck. ... For one vehicle Kelley Blue Book maybe significantly higher than Edmunds—and for another vehicle, Edmunds may be somewhat higher.
Why is Kelley Blue Book so low?
Here are factors that could affect how accurate the KBB values are: Lag – It takes time for data and analysis to make its way through KBB. Prices listed may not always reflect the very latest trends and economic conditions. ... Mismatched data – Most dealers do not use KBB for trade-in (wholesale) values.
How does mileage affect a used car value?
Price Drop in Used Cars Per Mile
For the first three thousand miles or so, cars usually drop about $5,000-$10,000, so it averages out to around $1.50 to $3 per mile. After that, the price drop is lower, and can go from around $. 25 to $.
How long do used car prices stay high?
Average used car prices are up 42% right now compared to January 2020. A new report from Automotive News suggests that the current used vehicle price boom will die in late 2022 and early 2023.
What is the most accurate car valuation?
Only Kelley Blue Book ( www.kbb.com ) offers consumers the easiest and most accurate way to determine your exact vehicle's value, with the 27-point Vehicle Condition Quiz.
How often do KBB values change?
How often do your values change? Kelley Blue Book updates or verifies our values and pricing at least once a week to give dealers and consumers up-to-date information.
Can I negotiate trade in value?
Negotiate trade-in value separately
By negotiating them separately, you can make sure that you're getting the best trade-in value possible — or at least what your car is worth — and the best price on the new vehicle you're buying.
