What is Kelley Blue Book?
Kelley Blue Book (KBB) is a collection of averaged car values that helps buyers and sellers negotiate during the car-buying transaction. Whether you visit a buy here pay here car dealer in Arizona or search online for no credit financing on SUV’s, KBB is a handy tool that takes the guesswork out of calculating a vehicle’s real value.
Is KBB Accurate?
Somewhat. KBB is more of a starting point for bargaining than it is a definitive assessment of cars’ true prices. By providing an average of listed sticker prices, it gives an idea of what consumers are willing to pay. It does not, however, determine how much a seller will list it for, and the average negotiated price is often less than the average retail price.
When Should I Use It?
Don’t let the above information discourage you from using KBB. KBB is filled with objective information, and, if used properly, can help with many decisions:
- Negotiating retail price
- Establishing vehicle condition
- Whether to trade-in or sell privately
Trading vs. Selling
- Trade-In-Value: KBB sets the expected amount that consumers may receive for a trade-in. This value is always lower than a private sale.
- Retail Price: The KBB’s calculation of the average asking price for a used car at a dealer. This is only an estimate and does not reflect the actual price paid.
In both cases, the vehicle’s condition (KBB rates all vehicles as Excellent, Good, Fair, or Poor) affects the outcome.
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