Sellers whose cars have depreciated to their scrap value should consider selling them to a junk car business. What to do with cars that have lost their value The Blue Book also demonstrates which vehicles will retain their value better in the long run. However, due to higher demand, certain vehicles keep their value better than others. Generally speaking, the value of most vehicles decreases at a rate of 15% to 20% each year. How does the Kelley Blue Book calculate the vehicle values? When calculating the vehicle values, the Blue Book considers various factors, including:
The Kelley Blue Book Fair Purchase Price is determined by the amount buyers pay for a car across the U.S. The invoice price is the price the dealer pays the manufacturer for a new car. Depending on the local market, the dealer can choose to go above or beyond this price. The manufacturer sets the suggested retail price. When it comes to new vehicles, prospective buyers and sellers can also find three values on the Kelley Blue Book website: The retail value: the price a buyer can expect to pay at the dealer. The private party value: the price a buyer should expect to pay for a used car from a private individual. The trade-in value: the price a seller can expect from a dealer for a used car. What type of values does the Kelley Blue Book include? The Blue Book contains three different types of values: The value depends on whether the seller plans to trade the vehicle to a dealer or sell it privately. The guide provides an objective measure of the car's value and a basis for initial negotiations. The same goes for people who want to buy a car. Why do car owners need the Kelley Blue Book?Īccording to the Kelley Blue Book, car owners interested in selling their vehicle can significantly benefit from knowing its value. Nowadays, the guide is frequently referred to as the Blue Book. Kelley Kar Company published the first issue of the guide in 1926, naming it after its signature blue cover. Why is the guide called the Kelley Blue Book? Let's explore the Kelley Blue Book and how this guide calculates vehicle values. auto industry since its first issue in 1926. The Blue Book has become a standard within the U.S. While primarily known for cars, this guide also covers motorcycles, snowmobiles, and personal watercraft values. The Kelley Blue Book is a guide containing the values of new and used vehicles.
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