How Kelley Book Car Value Can Help Find a Fair Deal in Missouri

How Kelley Book Car Value Can Help Find a Fair Deal in Missouri

What is KBB used for?

Kelley Blue Book is one of the resources that can help determine the fair cost of your vehicle. It debuted in 1926 as a comprehensive car price guide. Originally, it was designed to serve auto dealers, insurance companies, and banks. The publication provided vital information on the current market value of automobiles, enabling business professionals to make informed decisions in their transactions. In the 1990s, Kelley Blue Book was put on the Internet as an experiment. The developers decided to offer the information to consumers for free and then sell the ads to auto brands and dealers. Dealers used KBB prices so widely that the term "Blue Book" became part of dealer jargon, and many buyers eventually adopted it as well. 

Kelley Blue Book was acquired by Autotrader in 2010, and the brands are now closely aligned under the Cox Automotive umbrella.

KBB's comprehensive database includes information on various models, their condition, and specific features. The combination of extensive market research, analytical tools, and expert knowledge ensures that Kelley Blue Book values of used cars offer up-to-date and reliable estimates.

At Clement Pre-Owned dealership, we place great trust in Kelley book car values and consider them carefully when assessing your vehicle, whether you intend to sell it or trade it in.

How is Kelley book car value calculated?

When determining the used car value, Kelley Blue Book gives a price based on four levels of condition: "Fair", "Good", "Very Good", and "Excellent". Many people tend to overestimate the price of their vehicle and call it "excellent," even though, according to Kelley Blue Book, only 3% fit that description. "Good" or "very good" condition is a better starting point for evaluating the condition of your used auto.

It is important to remember that Kelley Book car values are not exact to the penny. KBB is a kind of "reference book," and the costs it publishes are estimates. Used auto prices do not have to be perfect to the dollar to be helpful to those who need pricing information. On the contrary, they must be close enough that the buyer and seller have a general idea of the limits of the transaction.

Kelley Blue Book derives its values from a vast data pool, encompassing actual sales transactions and auction prices. These data points undergo thorough analysis and adjustments to account for seasonality and market trends. The way Kelley Book car value works is by utilizing multiple key data sources to ensure comprehensive coverage, including wholesale auctions, independent dealers, franchise dealers, and private transactions. Wholesale auctions have traditionally been a significant source for KBB due to their ability to capture insights from various stakeholders such as consumers, dealers, financial institutions, rental fleets, and leasing companies.

Kelley Blue Book utilizes sophisticated software that analyzes and predicts market trends by comparing information from over 250 data sources. In its valuation process, KBB takes into consideration the following key parameters:

1. Vehicle information: age, mileage, condition, trim level, and specific vehicle features are carefully evaluated to determine its market price.
2. Economic situation: Kelley Blue Book value of a vehicle factors in the prevailing economic conditions of the auto market, including supply and demand dynamics, to provide a comprehensive valuation.
3. Seasonal price changes: recognizing the impact of seasonal fluctuations, KBB adjusts its estimation to reflect price variations throughout the year.
4. U.S. Cost and regional pricing: KBB incorporates data on the cost of vehicles across the United States and regional pricing variations to offer accurate and location-specific appraisement.

By examining these variables, Blue Book value of a car provides users with a realistic cost range for a particular vehicle. This comprehensive approach provides buyers with a clear understanding of the market price of their auto. In addition to auto valuations, the KBB platform provides comprehensive reviews, expert advice, and valuable tools to help buyers with their decision-making process. From comparisons of different models to in-depth analysis of automotive trends, KBB content helps users find the perfect car to fit their needs and preferences.

KBB Used Car Value Reports

• Retail Value or Fair Purchase Price: this represents the amount at which an average consumer would typically expect to purchase the used vehicle from a dealership. It serves as a benchmark for fair pricing in the market.
• Trade-In price: the amount the consumer can expect from the dealer if they exchange it as part of a deal to buy or lease another auto. This assumes an accurate valuation of the vehicle. The trade-in value is often less than you can get when selling to a private individual but may be more than the amount a dealer can offer when selling directly.. 
• Cost to individuals: the amount a consumer can expect to pay when buying a used car from another consumer. Like all Kelly Blue Book figures, the cost to individuals vary depending on several factors. For example, if the auto comes with a warranty, the price is likely higher because the coverage increases the cost.
• The price of a certified pre-owned (CPO) auto: the cost of these vehicles is usually higher, but some people like the benefits of this type of purchase. Warranty coverage provides peace of mind that buyers are willing to pay more for, and the "CPO value" reflects this. Additionally, CPO cars offer the opportunity to own a quality vehicle with a well-documented history, ensuring reliability and satisfaction for the discerning buyer. 

At the Clement Pre-Owned you’ll find perfect vehicles at a good price.

Kelley Book car value by VIN: by entering the VIN into the cost calculator, the appraiser obtains information about the vehicle (model, year of manufacture, history). This data can be considered in establishing the vehicle's final value.