![]() Similar to Kelley Blue Book, the NADA Guide also provides values for cars, trucks, SUVs, and vans and works. While your Black Book Value is the most trusted source out there, it should be considered a guideline only. With a long history of valuation expertise, the NADA Guide has been around since 1933. Factors like supply, demand, location, and economic environment affect a vehicle’s market price. *Note: Vehicle values can change daily, so it’s important to know that this is an estimate only. You have nothing to lose.except your misconceptions about the value of your vehicle. The people at Canadian Black Book are as plugged in as anyone, and they have the most reliable, up-to-the-minute data available.īest of all, it’s free! So if you’re considering selling your vehicle, get your Black Book value first. The market is always changing, so it’s great to have an unbiased third-party do your work for you. Whether you’re a first-time car seller or a seasoned vet, Canadian Black Book is incredibly valuable. This value - which is based on sales data, auctions, brand equity, and the pricing of similar vehicles across Canada - is the most accurate estimate a consumer is likely to find. However, consumers can also use Black Book if they plan to sell their cars to private buyers.Canadian Black Book is a service that allows drivers to learn the estimated value* of their pre-owned vehicles (aka their “Canadian Black Book value”). Because of that, Black Book is more useful for dealerships. ![]() Additionally, higher values are assigned to vehicles with less risk of needing extensive repairs. In general, Black Book’s value assignments are slanted toward increased profits for reselling rather than buying. Black Book also looks at a car’s average price from wholesale auctions. KBB uses reasonable expectations to determine a vehicle’s worth, but Black Book uses data from actual purchases. Wholesale and retail values, as well as the spread between the two are displayed in ascending. Any new accident or service appointment will automatically flag the car for a review of its current Black Book value.īlack Book also relies on both current and projected market insights within the auto industry. Using the industrys best analytics and most knowledgeable editors, Black Book ® delivers actionable intelligence and accurate car value data you can count on for both the wholesale and retail markets. For reference, the 2020 Kia Sportage originally had a starting sticker price of 25,110, with the range-topping. Black Book says it also uses data from vehicle history reports, which include accident damage and routine service history. However, Black Book is a bit different from KBB because it uses VIN-specific appraisals. The site also examines regional factors and current market fluctuations. Like KBB, Black Book looks at a vehicle’s age and condition to gauge its value. NBC News June 23, 2021īlack Book was founded nearly 40 years after Kelley Blue Book, its biggest rival. In the past year, used vehicle prices on average have climbed 30%, according to Black Book, which tracks car and truck data. KBB even offers pricing reports for other types of vehicles, such as motorcycles. Higher trims with more features will also have better resale values than their lower-level counterparts. The service also takes region-specific factors and the current national economic climate into account.Ī car’s condition, age, and mileage also contribute to its Blue Book value. KBB says it relies on industry trends, the latest field analysis findings, and analytics to determine vehicle values. Kelley Blue Book is the older of the two resources, so it’s the better-known choice. How does Kelley Blue Book determine a car’s value? Kelley Blue Book president Jared Rowe | Gina Ferazzi/Los Angeles Times via Getty Images Something to keep in mind is that their offer will account for the cost of getting your vehicle ready to re-sell, but you'll also get tax savings towards the vehicle you’re purchasing. Let’s break down the difference between these two car sales services. Our Value Range tool is a good way to gauge your car’s trade-in value and puts you in the driver’s seat when negotiating with a dealer. However, depending upon their needs, prospective buyers might be better off knowing a car’s Black Book value. KBB also offers in-depth reviews and comparisons to help shoppers narrow down which car is their perfect fit. Users can search the site for any car’s average asking price and estimated trade-in value. For nearly 100 years, the company has used extensive research to determine the value of any given vehicle. Les Kelley was so successful at selling cars that he constantly needed more cars for his lot he began distributing a list of automobiles he wanted to. After years of successfully running the car company, Les Kelley introduced the Kelley Blue Book in 1926. ![]() When searching for the best prices for used cars, many consumers turn to Kelley Blue Book. in 1918 when Les Kelley started the Kelley Kar company.
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