Do cars sell for more than blue book

However, the kelley blue book website notes that well over half of tradeins are in an. How to recover more than blue book value for a totaled car. How much more than the blue book value can a dealership. For example im thinking about buying a 2000 acura tl 3. Possible buyers can easily look around at vehicle classifieds to determine where to shop or determine if your asking price is unreasonable. Seems to me the person who buys the car new gets the best deal. Dealership new scam, nadablue bookblack book value. I was also under the apprehension that there are two versions of the blue book. The trouble is that while both guide books are meant to help consumers and dealers establish value, there is often some discrepancy between the two sources. According to kelley blue book, the brands with the best resale value are toyota on the midend and porsche on the luxury side of things. Here are the vehicles that retain the most value after one year of. Experts from the nada guide, kelly blue book and black book say a growing economy, an improved housing market and a relatively low supply of used pickups less than 9 years old in good shape. The kelley blue book is considered to be a helpful resource for determining the monetary worth of a car, but it is not a definitive guide.

The average mileage for a vehicle is 15,000 miles a year. Carmax is the biggest seller of used cars in the u. It quickly became the nations numberone selling automotive book, often making the usa today bestseller list. All cars start depreciating as soon as you drive them off the lot. Cars which cannot be sold within a few weeks, at a good price, are sent to. Kelley blue book, with more than 20 million unique visitors each month. Kelley blue book doesnt sell cars the kelley blue book is a tool for measuring the average price of an automobile in certain circumstances and market conditions. Based on the black book value of a 2006gmc, this is the amount you can expect to receive for yourgmc if you sell it to the dealer at the same. Should i pay more than kelly blue book value for a car. Modifications custom paint when modifying vehicles. This book helps you keep uptodate with the latest offers by manufactures and the best car deals that you can go for. Should i pay more than kbb or should i negotiate a price close to kbb value. Not the highest blue book value, unless it truly is in perfect condition which includes a thorough detailing of the interior.

A lot of people do not understand exactly how dealerships use the blue book, so we put this guide together to help you understand how car dealerships use the blue book value of a car. Kelley blue book used pricing guide used cars for sale. From used car lots to new car dealers, they all claim to sell cars at or below. Take a look at sites like the kelley blue book company site to get what many would consider a fair resale price for your vehicle. There is a definite difference between a car with no extras and a car with a full array of hightech and comfort features. Why would i spend more than half the price of a new car on a car whose life is half over, when i only get to enjoy the worst half of the car s life. They can add more damage to the car then just the repairs and bring the total in over the kelley blue book value. To determine whether or not your car is actually totaled, the insurance company calculates the cost it would take to repair the car. Whether you sell your car yourself or trade it in to a dealer, you will want to do the little. And, blue book value doesnt mean that is what your car is going to sell for there are market factors that vary the final sales price of a car. Sites like kelley blue book or edmunds are good examples of resources that can help you with your estimation. The easiest way to do this is to take it to the nearest carmax usedcar dealer.

Is it illegal to sell a car above the kelley blue book. Can i realistically get the kelley blue book price. It features 15 years of used car values on more than 10,000 models of cars, trucks and vans and is available in bookstores, auto supply stores and other locations. Check websites like kelley blue book or and use the tools to determine the value of your car, selecting options and entering details according to your car s features. Blue book is a nice impartial judge of what a car is worth.

Its not their problem if you overpaid for the car or owe more money than the car is worth. In the past, most car insurance companies used the kelley blue book as the standard for car values. How to trade a car when you owe more than book value. How carmaxs usedcar prices compare to kelley blue book. Pricing for retail cars at a dealership will vary, but because of the refurbishing a dealer must do to ready the car or truck for sale, the retail price of the used car will typically be more than. The kelley blue book has never sold a car, however, and does not take into account the facts on the ground at a dealership like the popularity of models in a given year or the. If so, then you might have checked kelley blue book kbb to determine a fair selling price. Insurance carriers offer an amount they feel the car is worth in your geographic area at that moment in. Kelley blue book is a popular evaluation guide for consumers and dealerships.

Failure to do so may result in you charging or paying more than you should for a used vehicle, which can cost you hundreds or even thousands of. When it comes to selling your car, you want the best price you can get, and studies have shown that black book car pricing, on average, are lower than the tradein amounts shown in either the kelley blue book or in the nada and edmunds listings. A quick tour of kelley blue books usedcar valuation. Some modified car owners kind of suck it up and selfinsure, said jack nerad, executive market analyst of, the web site of kelley blue book, an auto pricing guide. I could buy a 5 year old model with 100k miles on it for around 11k. But, like all generalizations, there are numerous details for w. If you intend to sell your vehicle for more than kelley blue book value but havent listed it yet, selling your car may be difficult. For one vehicle kelley blue book maybe significantly higher than. How do car dealerships use kelley blue book kbb values. If kbb estimated value is indeed all you could have got from selling the car yourself just before the accident then that is all that a court will. The blue book is a great tool for consumers and dealers alike, and helps people buy used cars at fair prices every day. The kelley blue book private party value reports on a fair price when selling the.

In order to get some indepth knowledge about vehicle pricing, consumers can refer to the bible of automobile deals, the nada blue book rv. I sold 2 cars there both with really really high mileage, they seemed to give me kelly blue book value rounded to the nearest hundred. If the cost is more than the resale value of the car, or if it costs more to repair the car than the amount you can get from selling it, then the insurer declares your car a. This week we are discussing blue book pricing and used cars, why couples buy two of the same car and an affordable ride for a really tall driver. Tips for negotiating the actual cash value of your car. Im shopping for a used car and almost all of the cars i see are asking for two or three thousand more than their kelly blue book value. Black book and nada are much closer to what the cars would sell for most banks use nada to determine your max. Does the kelley blue book price reflect the actual. Selling a car or truck is a question of time versus money. Nada guide, black book and kelley blue book compared autoblog. Seems many people do not understand there is a difference between the wholesale price of a car and the retail price. How come blue book pricing doesnt seem to apply to.

If you are interested to know more about nada blue book rv value, then continue reading. Is the insurance company only required to pay me blue book. When buying or selling a used car, many people rely on the kelley blue book kbb, which has been around for more than 90 years. In the world of used car sales, there are no preset values, so a dealer is free to use whatever sticker price it wants for a used car. Tell me about selling a car to carmax ars technica openforum. But some cars lose value much more rapidly than others.

Unless of course the car has some sentimental value. If you quickly realize that the monthly payments are too high for you to handle, or your income changes, you may find that your outstanding loan is higher than the blue book value of your car. Only after considering these questions should you decide to. Get the kelley blue book value for your used car or tradein vehicle, find tools to. Replacing the car often costs more than the car it is worth at the time, particularly if it had high mileage or a great deal of wear. And when we compile used car sale data by brand, the results for mostexpensive used cars is, in some cases, pretty surprising and not so much in others. Lenders and car dealers also encourage buyers to buy that new car and just roll your old loan into the new one. Once you know the value, subtract it from what you owe the difference is the negative equity in your car. Of course carmax and any other dealer is going to offer less than retail for a car. They use many sources, but primarily actual transaction values. Consider paying a little more and buying a better newer car. First, estimate the value of your car without repairs.

For over 90 years, kelley blue book has been the trusted resource for used car values, helping car owners understand what their used car is worth. The car has negitive value to a dealer as a broken tradein. Our values are the results of massive amounts of data, including actual sales. The kelley blue book commonly referred to as just the blue book, is a publication used by banks and car insurance companies to get an average price on any given vehicle. Blue book is one minor factor in the evaluation of acv actual cash value there is also more than one book out there. As most buyers know, cars can be purchased daily for wholesale blue book or less on used car lots up and down the block.

Ive never purchased a used car so is it customary for people to list their cars for more kbb. Can insurance companies pay less than blue book value for. Get used car values from black book with our car pricing guide and compare black book to kbb and nadaguides, two other popular valuation sources. I paid slightly below blue book which was easily 25003000 less than i could have sold it for the next day. You know that if the cost of the repairs is more than the kelly blue book value that they will total out your car and give you that value in cash. The kbb is a great resource, and used by all dealers and banks, and informed customers.

Youll always get more money selling it on your own, sometimes thousands more. How does an insurance company decide on the value of a. Determining how much a vehicle is worth is an important part of the process of paying a total loss claim, and it involves a fair amount of research. A financial exchange whereby each party feels like they totally screwed the other kelley blue book is an excellent resource to ballpark the current value of a vehicle. Black book used car values new cars, used cars, car. To be upsidedown on your car to owe more than it is worth makes trading in that car a challenge. The easiest way to do this is to take it to the nearest carmax used car dealer. Paying over blue book value for a private party used car.