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What's your
car worth? Should you sell or trade in? How do the 2003 models stack
up? Find answers to these questions and more at the Kelley Blue
Book site, a comprehensive and easy-to-use resource from the folks
who brought you the original Used Car Buyer's Bible.
What is the
"Kelley Blue Book" Value?
Consumer and
auto dealer has been using many used car price guides when they
shop for a used car or when they want to sell their used cars. Oneof
the most popular used cars price guide is Kelley Blue Book
Let's say you
are looking to buy a used car. You find one in the parking lot of
the used cars section of the auto dealership. On the car there will
be a window sticker, and you know how much the seller is offering
to sell it for - its "listing price." You'd like help
figuring out what that used car is "worth" — what
a fair price would be for that particular car. So you research what
similar cars with that make, model, and options have sold for recently.
Suppose you
search on the internet for used car price value the result came
back and list of comparable cars, and what their listing prices
are." But what I need to know is what they sold for. Most likely
none of those sellers got their asking price. Only if I know the
actual transaction prices for the other car will I have some idea
of what a fair price is for the car I want."
This concept
may seem self-evident. But if it is, why do consumers forget all
about it when they go shopping for a used car? Here is what frequently
happens.
You find a used
car you are interested in on a dealer's lot, and you need to figure
out how much you are willing to pay for it. The negotiation process
is about to begin, and you want it to result in your buying the
car for a fair price.
All too often,
however, the dealer will direct your attention to a printed price
guide — and often it will be the Kelley Blue Book. (Kelley
publishes more than one price guide for used cars, but the one your
dealer is likely to use is the one labeled "Kelley Blue Book
Auto Market Report — Official Guide," the version of
the book that Kelley sells to dealers.)
The salesperson
will look up the car you are shopping for in the Kelley
Blue Book, and will point to the "retail" price for
that car. And then he will assert that since the price he is asking
is quite a bit less, you should rest assured that he is asking a
fair price. The implication is: why negotiate further?
But what is
that "Kelley Blue Book" value he showed
you? Is it the price at which cars like yours have recently sold
to other buyers? Is it even an estimate of the actual transaction
prices?
Surprising to
most used car buyers, it is not! It is only an estimate by Kelley
of the "listing" prices being asked by dealers —
not what they are really getting for the car. As Kelley forthrightly
says in the book, these are "suggested retail values"
(although we bet that your dealer won't show that to you). The book
clearly states:
SUGGESTED RETAIL VALUES represent Kelley Blue Book's estimated
dealer asking price. The actual selling price may vary substantially.
Yes, we agree with that: In our opinion, they do vary substantially.
And in most cases, they are likely to be substantially lower than
the asking price. After all, how many sellers of houses, or anything
negotiable for that matter, get their asking price?
And as the version
of the Kelley Blue Book that Kelley offers to consumers
states:
Retail Values
represent what a dealer may ask for the vehicle once it has been
inspected, reconditioned and possibly warranted. This is the "Asking
Price" and you may expect to pay less. (Italics added.)
Yes, based on our research, you often may expect to pay a lot less.
Our advice is
simple: If a salesperson whips out a copy of the dealer edition
of the Kelley Blue Book and points to one of its retail prices,
say to him or her: "It is nice to know the price that Kelley
thinks dealers are asking for this car, but can you show me what
dealers are actually selling this car for?"
And if the dealer
says that Kelley doesn't publish those values, ask him to tell you
the dealer retail Edmunds.com
True Market Value® for the car. That TMV® price is the
estimated average selling price for your car, and it's what you
need to know to negotiate a fair price.
Edmunds
New Cars & Trucks Buyer's Guide 2004 Annual
lemon car check offers 60-days trial
access to unlimited vehicle history report. Purchase
today and get Free Car Buyer's and Seller's Guides. If for any reason
you are not completely satisfied, contact us by phone or email to
receive a 100% refund on the purchase of your report. But keep the
Guides - they're free to you for trying our service!
Get
free used car history records
The Book:
Kelley Blue Book
Used Car Guide:
Consumer Edition, January-June
2004
|
Editorial
Reviews on Kelley Blue Book
(Kelley Blue Book
Used Car Guide. Consumer Edition, Vol 12, January-June, 2004) |
| An
essential resource for anyone looking to buy, sell, or trade
in a used car, this portable volume provides the general public
with information that was originally restricted to the automotive
industry: original list prices, vehicle identification numbers
(VINs), and trade-in, private-party, and retail values for
vehicles, according to condition. First published in 1926
to help auto dealers, financial institutions, and others in
the trade, the Kelley Blue Book has been available to consumers
since 1993. This edition covers model years 1989 to 2003.
Also included are values for additional options and equipment,
a table of acceptable mileage ranges by year, and tips on
buying a used car.
Blue Book Consumer
Edition January-June 2004 - For only $9.95! Includes values
for used cars, trucks and vans covering model years 1988 to
2002. The Consumer Edition includes three values:
- Retail
- Private Party
- Trade In
|
The following are more information
and news on Kelley Blue Book
Car Lemon History
Check offers unlimited VIN number check
for auto vehicle history report, i.e., odometer rollback, recall,
lemon car check, car accident report, salvage, or flood damage.
Click
here to try the free Vin number Check - vehicle history report
Please choose
the following link to search auto reviews, sale price, rebates,
warranty, defect, recalls, news, complaint, problem, scheduled maintenance
service report, repair tips and frequently asked questions on auto
manufacturer:
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