what is my car worth?

Posted Wednesday, Nov 09, 2022

what is my car worth

what is my car worth

What is Blue Book Value?

The term “Blue Book Value” refers to the value of a vehicle by a guide known as the Kelley Blue Book. Kelley Blue Book not only lists the value of new vehicles but also lists used car values. Since the early 19s, the Kelley Blue Book has served as a standard within the automobile industry in the United States. In addition answer to the question of "what is my car worth" or the values of your vehicles, the guide has also covered values for snowmobiles, motorcycles, and personal watercraft. The guide is updated annually

How does Kelley Blue Book determine "what is my car worth"?

Kelley Blue Book receives a daily average of vehicle prices from wholesalers, retail auctions, car dealers, and other private car sellers. KBB's proprietary algorithm analyzes price data as well as historic trend data, current economic conditions, industry developments, and period of a year and places Kelley Blue Book value. This process gives us these numbers for used and new automobiles.

What factors are used in evaluating Kelley Blue Book values?

There is a number of factors taken into consideration when determining Blue Book Values for a used car. Such factors include the body style of the vehicle and the year in which it was manufactured. It also includes features such as transmission type and engine size. Custom details and options available on a particular vehicle can also affect value. General conditions and mileage will also affect the amount of car depreciation. In general, most vehicles depreciate at a rate of between 15 and 20 percent per year. Some vehicles are able to hold their value better than others because they are in greater demand. The Blue Book Value can help you to determine which vehicles hold their value better in the long term.

What kind of values are found at Kelley Blue Book?

The KKB actually provides 2 types of car value for its user. The pre-owned car Curranty Market Values and the New Car Curranty Market Value. Here we will look at both value types.

The pre-owned Guide Kelley Blue Book provides three different types of pre-owned car values.

  • The used car trade-in value: The KKB used car trade-in value is the amount you can anticipate receiving from a dealer when trading in your used car.
  • The used car private party value: The KKB used car private party value refers to the amount you can anticipate paying when purchasing a used car from a private individual.
  • The used car retail value: The used car retail value refers to the amount you can expect to pay at the close used car dealers.

The New Car Guide Kelley Blue Book also provides three different types of new car values.

  • The New car (MSRP) value: The new car's MSRP value is manufacturer determines the manufacturer’s suggested retail price for a new vehicle. This means the New car dealer can choose to advertise the car at a price that is above or below the MSRP based on the local market.
  • The New car dealer invoice value: The dealer invoice or invoice price, refers to the amount the manufacturer actually charges the new car dealer for the vehicle.
  • The Kelley Blue Book Fair Purchase value: The Fair Purchase price indicates what customers are paying for a particular car. This value is based on reported transaction information from dealers all across the country.
    what is my car worth

    what is my car worth

Kelley Blue Book story

The Kelley Blue Book was first published in the early 19s. It has come to frequently be referred to simply as the Blue Book because the old printed guide had a dark blue cover. When buying or selling your used car, the Blue Book Value of a vehicle can be particularly beneficial. If you are trading a vehicle to a local dealer near you or if you are planning to sell a car privately, the Blue Book Value can provide you with an objective measure of the vehicle’s value. It can also provide the basis for initial negotiations.

what is my car worth?

If you are planning to sell your car or purchase a used car (trade-in) either from a dealer near you or a private party, the Blue Book Value can help to ensure you do not overpay for the vehicle. And if you are on the hunt for a used car in Fredericksburg VA, be sure to check out the Kelley Blue Book Fair Purchase Price here at Carcloudautogroup.com to see the best deals on pre-owned in Fredericksburg VA.

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