Behind the Scenes of Kelley Blue Book Car Values
Kelley Blue Book, or KBB, is the leading resource and the industry standard for buyers and sellers researching a vehicle's value. However, out of the millions of home users who look to the Kelley Blue Book to price their auto, only a small minority understands how KBB reaches those numbers. Sellers latch onto the highest value for their vehicle, while buyers cling to the lowest cost they can find. In the real world, this disagreement can jeopardize the sale of the car. Just as worrying, sellers may mistakenly undervalue their vehicle and kiss hundreds or thousands of dollars good-bye.
Finding Your Car's True Kelley Blue Blook Value
To get the most appropriate price for your vehicle, you need to take a closer look at the complete set of valuation tools on Kelley Blue Book's website. KBB's main valuation categories are "Dealer Trade-In," "Private Party," and "Suggested Retail." Put any car through these tools, and you'll find that a dealer will offer far less for a vehicle compared to Kelley Blue Book's suggested retail value. You'll also see that though a private party will likely pay more than a dealer, it's still below the suggested retail value.
Kelley Blue Book can tell you the full range of prices, including the "suggested" value, but it can't tell you why there's such a big difference in costs. Behind the scenes, the dealer must cover his or her overhead and recoup costs from your vehicle. To make these profits, the dealer must sell the car at a higher price--and buy it from you at the lowest value possible. Check those blue book values again, and you'll see that the dealer trade-in is the smallest number of all. Guess which one you'll get when you bring your car in?
Kelley Blue Book's Default Rating
One constant in Kelley Blue Book's used car valuations is that the car needs to be in "Excellent Condition" to go for the top price in any category. If you plan to get good money for your car, you'll need to examine the meaning of "Excellent Condition."
According to Kelley Blue Book, a vehicle in excellent condition must meet these requirements:
Inside, the engine compartment must be clean, with no fluid leaks or visible wear/defects. But it's the final challenge that even the most conscientious car owners find difficult to meet: the vehicle must have complete and verifiable service records. With this mountain of goals facing them, it's no wonder that fewer than 5% of vehicles qualify. However, this doesn't stop most vehicle sellers from immediately assuming that they should accept no less than their vehicle's suggested retail price when selling their auto.
Don't Settle for Less
The Kelley Blue Book is trying to tell you two things: first, you'll get roughly 15% more money from a private buyer than a dealer, depending on the condition and type of vehicle. However, the effort and cost involved in advertising, showing, and negotiating a private sale can overshadow any benefit that extra money brings you. Second, odds are you don't qualify for the much-desired top price bracket, no matter how you choose to sell your car.
Instead of feeling like you're caught between a rock and a hard place, you have another choice when it comes to selling your car, truck, or SUV. You can turn to an auto buying service. These auto professionals will appraise your vehicle at your earliest convenience, then give you a cash offer right then and there. In our case, we guarantee to offer more for your vehicle than any dealer will, and more importantly, we handle all DMV paperwork, smog certification, and transportation of the vehicle. That way, you get that extra 5-15% over dealer trade-in value without paying for out-of-pocket expenses such as advertising, smog check, and so on. And did we mention it's free?
Sounds like something worth looking into, doesn't it? You can find out, right now, exactly how much money you can get for your vehicle and get that cash in your hands today. Just click here, fill out a brief form, and a valuation expert will phone you shortly.
