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BLUE BOOK VALUE OF MY CAR – HOW TO USE IT WISELY

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December 27, 2021
BLUE BOOK VALUE OF MY CAR – HOW TO USE IT WISELY

Selling a vehicle is a stressful and time-consuming process. You have to prepare the car for the trading. Clarify its market price. Take photos, publish advertisements, make appointments with potential buyers, etc. However, some tools help you to simplify the process, such as ‘Blue Book value of my car’.

It is considered that the highest profit can be achieved with good negotiation skills. On the one hand, it can be true. On the other hand, a correctly determined vehicle’s price might play a more important role. The issue is that without a fairly indicated price, you might miss the chance to negotiate with a potential buyer at all. Similar to sellers, buyers try to get the highest profit out of the trading. For that reason, buyers avoid overpriced autos. The car blue book is the tool that simplifies the process and helps you to correctly determine your vehicle’s value. That way you can avoid losing time due to overpricing your “best buddy” or devaluing and losing some money.

As I’ve mentioned, selling auto can be stressful, but I found the Kelley Blue Book value of my car, soothing the process significantly. For some individuals, the Kelley Blue Book might be strange and not familiar. For that reason, I’ll try to share with you all the needed information about the Blue Book, its importance, and reasons to use it. Besides, we will also review other sources that help you to evaluate vehicle value.

What is the Kelly Blue Book?

Before visiting the website and clarifying what is the Kelley Blue Book trade in value, for your car, let me share with you some info about the company. The history of the company dates back to the 1920’s. With its long history, it earned the name of a reliable company. It is one of the trusted resources helping many individuals to evaluate their cars accurately. In the beginning, the company published a blue book that included detailed information about auto evaluation and pricing. Due to that fact, sometimes the company name is referred to as just Blue Book. It’s a common and well-known term for any individual who has ever sold or bought a car.

The Kelly Book value is the result of massive amounts of data, including actual sales transactions and auction prices. It includes wholesale and retail transactions. The information is updated on a weekly basis to provide the most up-to-date information. With the help of the source, you can avoid overpricing the car and get true information about its current value.

The Blue Book value by VIN and other details determines 4 condition levels: Fair, Good, Very Good, and Excellent. You, similar to any driver who loves their “best buddies” and takes good care of them, might consider that the car condition is “excellent”. However, it’s quite hard to be unbiased. According to Kelley Blue Book website data, only 3% of used automobiles fit that description.

Why do I need to use the Blue Book value of my car?

Importance of Blue Book value of my car

Since you already know what makes the Blue Book data outstanding and trustable, you may ask ‘How can I use the blue book value of my car?’ The given data can be used in many cases. No matter whether you are a used vehicle buyer or seller, provided information helps you to determine market price easily.

Let’s imagine that you wish to sell a car privately without any dealership companies. In that case, you should take photos of a vehicle, list all its details and publish an advertisement on the website. The process might take weeks or months… You will have to meet many potential buyers and negotiate on price. To shorten the process and avoid losing money, you can use a car blue book. Simply indicate the private party value to set the asking price. That way you will have some room to negotiate the price with the buyer.

Another scenario, when I’d use Kelley Blue Book value of my car is while trading in. The website allows you to determine instant cash offers for the car you are willing to sell. That way while visiting the dealership company you can be ready for what to expect and determine how fair value the dealer offers you.

Even though the dealer offers a lower price than the Blue Book price, it might have several reasons. First of all, the dealer might have the same models that you are willing to sell. Besides, sometimes we exaggerate the condition of our “best buddies” unintentionally. Hence, you should take into account the above-mentioned reasons, if the gap is not too big between the Blue Book price and offered price.

The Kelley Book value and other sources to determine car price

Sources to determine the value of a car

While talking about the Kelley Blue Book trade in value, we should mention that there are other sources that determine car value. For instance, Edmunds and NADA.

Edmunds, similar to Blue Book, uses dealer transactions, consumer information, and car depreciation costs data. Upon indicating the vehicle’s model, manufacturer, year of the release, features, and mileage data, Edmunds determines its fair market value. Mileage is one of the important details determining the price.

However, in some cases, it can’t determine the reliability of a vehicle. A lot depends on how the vehicle is maintained. For instance, a newer vehicle can still be in a good condition despite the high mileage data. Even so, many individuals try to correct mileage data and lower it for earning more money. To avoid misleading, I’d suggest using the Mileage Blocker tool, which allows you to test vehicle maintenance without counting extra miles. It can stop the mileage recording process untraceably. The blocker is an ethical tool that is designed for testing and tuning purposes.

Major features, such as the car’s transmission, engine type and all-wheel drive, can have a big impact on the value of the car. The same goes for options such as leather seats, navigation, a sunroof or automatic climate control. If you can remember your car’s options off the top of your head, great’. While talking about Edmunds, please take into account that you can’t calculate the vehicle price released before 1990.

Similar to Kelly book value, NADA is another source to determine your vehicle’s value. The company has a long, 80-year history in the auto industry. NADA provides an average price of a vehicle based on analyzing actual wholesale transactions and retail transactions, as well as asking price information from wholesalers and retailers of used vehicles, MSRP, invoice, equipment assumptions, etc. Upon taking into account all the data that is used for calculating the value, you can be sure that provided information is trustable.

Conclusion

To sum up the Kelly blue book value by VIN code helps you to shorten the stressful selling process of a vehicle. You just have to fill out several fields and see the accurate value of a car. That way you will avoid overpricing or devaluing your “best buddy”. With the help of the tool, you can be ready to fairly negotiate about the price and get the best profit out of the sale.

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