What Is The Difference Between Redbook And Black Book Car Values
RedBook is an Australian vehicle valuation and information website. RedBook has a history in print dating back to the 1940s. It has since expanded to New Zealand, Malaysia, Thailand and China. Black Book is an American company that provides car values primarily to dealerships. It was founded in 1955 and is now based out of Lawrenceville, Georgia.
If you were a car shopper in the Asia-Pacific region looking to determine the trade-in value of your vehicle, you’d likely use RedBook. If you were a car dealer in the U.S., Black Book would be one of many tools you’d use to determine the value of a vehicle on your lot. Most typical car shoppers would not have access to Black Book, so they’d have to use another tool.
Here on Edmunds, we can bothdetermine the value of your vehicle and provide you with aninstant cash offer on your trade-in.
What Is Routine Maintenance On My Car
Most routine maintenance visits include basic items youre probably familiar with: an oil change with new oil filter, checking parts like the brakes for wear, rotating the tires, and hooking the car up to a diagnostic computer to check the internal functions and look for any error codes. On one hand, todays new cars are more sophisticated than ever before, with electronic systems to track and control everything from safety features to comfort amenities. But routine maintenance on most new vehicles is also simpler and more straightforward than ever before.
If your car is more than 10-15 years old, traditional maintenance schedules apply. But here are a few things that have changed from the old days when servicing a newer car.
- Most oil change intervals have gone to 5,000 miles or even 10,000 for some automakers.
- The traditional tune up for engine timing and spark plugs is a thing of the past.
- Lubrication for joints, bearing and other suspension bits is no longer necessary. These moving parts are sealed for life.
- Coolant flushes are still needed, just not as often only every few years.
Heres the rule of thumb: Just follow the manufacturers maintenance schedule and, most often, your car should continue to run well for years to come.
If you still have questions, read this article to see whether or not your car needs maintenance.
How Is The Kbb Value Calculated
Kelley Blue Book was first published in 1926 as the vehicle price guide. It was intended for car dealers, insurance companies, and banks so that business people could use current car values in their dealings. In the 1990s, the KBB was put online as an experiment. They decided to offer the information to consumers for free, and then sell advertising to car brands and dealers. This business model is still actual for the Cox Automotive conglomerate, which currently owns Kelley Blue Book.
Kelley Blue Book uses software to review and predict trends on the market by comparing more than 250 data sources. It uses predictive analytics and takes into account the following parameters:
- Car information: age, mileage, condition, trim, and features.
- The economic situation on the car market.
- Seasonal price changes.
- Values across the US and regionalized pricing.
At Indy Auto Man, we believe KBB values and take them into account when estimating your vehicle, whether you want to sell or trade it in.
Read Also: Where Can I Park My Car
What Is The Black Book Value Of A Car
Black Book is a valuation website that provides data and car values primarily to dealerships. It was founded in 1955 and is now based out of Lawrenceville, Georgia. Black Book provides a method for dealers to check the value of a trade-in, look at wholesale prices at auctions, and help determine what to charge for a used car or truck. The average consumer isn’t able to get a Black Book price, but luckily we can provide an even better option for you on Edmunds. Visit ourappraisal page to get an accurate value on your car, plus the option to get a cash offer that can be redeemed at a participating dealer.
How Can I Check The Value Of My Car
To check the value of your car or truck, you’ll need to know its make, model, mileage and what options are installed. On Edmunds you can also use your vehicle identification number or license plate to begin the valuation process. Once you have this information, you can not onlycheck the value of your vehicle but also get aninstant cash offer that can be redeemed at a participating dealer near you.
Also Check: How Hot Does A Car Get In The Sun
What Is Actual Cash Value Of A Car
The actual cash value of your car is what its worth in its current condition, or the amount you could reasonably expect to get for it if you sold it today. It includes a reduction in value for depreciation. And because cars begin depreciating as soon as you drive them off the lot, your vehicles ACV will be less than what you paid for it, even if its not that old.
If the damage to your vehicle exceeds a certain percentage of the ACV, the insurer will declare it a total loss. They will reimburse you for the actual cash value of the car . The threshold for totaling a vehicle varies by state and insurer.
How Is The Blue Book Value Calculated
The Kelley Blue Book Value takes into account a number of variables when deciding what the Blue Book value should be.
Some of these values include:
- The body style of the vehicle
- Manufacturing year
- General condition
Most vehicles can expect to see a 15 20% depreciation in value with every year that passes.
The Blue Book Value will help to show which vehicles depreciate more quickly than others and why that is. This is useful information when deciding what vehicle you should buy.
You May Like: How Much Is A Slingshot Car
How Kelley Blue Book Determines Used
When buying or selling a used car, many people rely on the Kelley Blue Book , which has been around since 1926. One sign of its popularity: Roughly 20 million unique visitors per month log on to the Kelley Blue Book website.
Although automotive experts acknowledge that the Kelley Blue Book is one of the most popular and trusted guides in automotive pricing, the question remains: Is it accurate and reliable? Heres a look at how Kelley determines car pricing, an assessment of some issues consumers might encounter with KBB pricing, and a brief review of some of the top competitors in the industry.
What Is The Blue Book Value Of My Car A How
Whether selling or buying a new or used vehicle, Blue Book Car Value will help you estimate any vehicle’s worth in the current market or its old value. Kelley Blue Book, also known as KBB, is a vehicle sales website with a history that dates back to the 1920s.
When it got founded, Kelley Blue Book published a physical blue book that included the current price and value of each car on the market. Today, prospective buyers, sellers, and car owners can utilize the Kelley Blue Book website at kbb.com to receive the standard value of a vehicle.
Don’t Miss: How To Remove Hardened Tree Sap From Car
What Should I Pay For A Used Car
Maybe more than any other type of car value, used car prices can be confusing for a buyer. You have to think about the options, the condition, the mileage and where you can find that actual vehicle for sale. Then you usually have to negotiate the price. Not to worry. KBB.com has the knowledge and expertise to give you the information to buy with confidence. As a reference, we provide a Typical Listing Price that’s based on the asking prices you might see at the dealership. Even more important are the Used Car Fair Market Range and Used Car Fair Purchase Price. Drawing from thousands of actual sales and powered by 90 years of industry know-how, the Kelley Blue Book® Used Car Fair Market Range and Fair Purchase Price will help you evaluate if you’re getting a good deal or not. Looking for CPO Pricing? KBB.com has a Fair Purchase Price and Fair Market Range for Certified Pre-Owned vehicles too.
More Tips To Consider
When to Price Your Car Higher
- Warranty. Youll get more money for your vehicle if its under an extended warranty , provided the warranty is transferable.
- Regular maintenance. If youve kept up with regular maintenance, including if you recently completed major scheduled maintenance, such as a 60,000-mile service, it adds to the bottom line of the sales price.
- New tires or brakes. You can add to the sales price if youve purchased a new set of tires or installed new brakes.
When to Price Your Car Lower
- Quick sale. If you want to sell your car quickly, lowering the price helps you get there faster.
- Needs maintenance. If the vehicle needs a major scheduled service, new tires, or brakes, that will lower the price.
- Accident. Whether a fender bender or a major accident, these mishaps will lower your sales price.
Read Also: How Much Oil Do I Put In My Car
What Are Black Book Car Values
Black Book Vehicle Pricing. The Black Book is what dealerships typically use to lookup pricing information about new, used car, truck, and recreational vehicle prices. Black Book updates the Dealer invoice and Manufacturers Suggested Retail Prices weekly. Dealers also use the Black Book loan values for finance purposes.
Black Book publishes weekly publications in print and online is still going strong today.
Kelley Blue Book History
The Kelley Blue Book was first produced in 1926. It has come to frequently be referred to simply as the Blue Book because the old printed guide had a blue cover. Being aware of the Blue Book Value of a vehicle can be particularly beneficial if you are interested in either selling or buying a car. If you are trading in a vehicle to a dealer or if you are planning to sell a car privately, the Blue Book Value can provide you with an objective measure of the vehicles value. It can also provide the basis for initial negotiations.
If you are planning to purchase a used car either from a dealer or a private party, the Blue Book Value can help to ensure you do not overpay for the vehicle. And if you are in the hunt for a new car, be sure to check out the Kelley Blue Book Fair Purchase Price here at KBB.com to see what folks in your zip code area are paying.
Read Also: How To Stop Car Warranty Robocalls
Kelley Blue Book Vs Nada: How To Find Out A Used Car Value
Posted Tuesday, June 28, 2022
If you are selling a car in Indianapolis, you want to get the most accurate car value estimation. Where can you get it: on Kelley Blue Book or Nadaguides website? In fact, the easiest way is to get a firm offer from the dealership. This is fast, simple, and absolutely free. Youll get the exact price a dealership is ready to pay for your car right now.
But if you need some figures to get an understanding of what to expect, you can use either Nada or KBB. In this post, you will find an explanation of how each source defines car values.
What Is Vehicle Black Book Value
What’s the value of my car?
While Kelley Blue Book car values for car value estimates have been a long-standing standard for car valuation, it does have a major competitor. Black Book is used by many major online used automobile sources such as Cars.com. The Black Book value or car value calculator helps to give the buyer a sense of the wholesale or auction value of the vehicle.
Black Book car value calculator or car worth calculator looks at pricing information provided by wholesale auctions as well as the actual seller to buyer vehicle transactions all around the United States
In contrast to the Kelley Blue Book value of a car for car value estimates of used car prices, the Black Book car value calculator values are updated every week. However, for many vehicles during many weeks, the values do not change significantly.
Recommended Reading: How Much Is My Car Worth By Vin
How To Calculate Car Value After An Accident
To calculate used car values after an accident, first check your car book price prior to the incident on Kelley Blue Book. Then look for a car value calculator that factors in the extent of the damage done to provide you with a new estimated car value.
Oftentimes, a quality car worth calculator can give you a solid estimate of your carâs new value in relation to its previous car book price. A good vehicle value calculator factors in insurance concerns, total damage, and sales viability.
How To Choose The Right Sales Price
You may think your car drives and shines like new, but its value will depend on its actual condition. Its important to be knowledgeable and realistic about the sales price when determining how to sell a car.
Some owners tend to overestimate the value of their car, which can lead to unrealistic expectations. If you ultimately set your asking price too high, youll probably have more trouble selling it.
Read Also: How Long Do You Have To Register A Car
Definition And Examples Of The Blue Book
The Kelley Blue Book is a website and online resource that helps people buy and sell cars. The company has been in business for more than 90 years, and used to publish a physical book. It provides pricing information on new and used cars, as well as information on financing and leasing. Its often regarded as the place to go if you’re looking for an accurate valuation of your vehicle.
- Alternate name:Kelley Blue Book
For example, suppose Tyra is thinking of trading in her 2017 Prius for a newer model. She wants to make sure the dealership doesnt lowball her cars value, so she looks up the Blue Book value of her car. The Blue Book tells her $16,972 is a fair trade-in value for her car in its condition, so now she knows what to negotiate for at the dealership.
What 3 Values Does The Kelley Blue Book Give
There are three different types of value given in the Blue Book for every vehicle.
Read Also: How To Report A Car Accident
What Is Actual Cash Value Vs Replacement Cost Of A Vehicle
When determining the value of a car, actual cash value takes into account the depreciation of the vehicle. Depreciation represents the loss of value since you purchased the car, and its determined based on multiple factors, including mileage, wear and tear, and accident history. The year, make, and model also affect how much a car depreciates because some vehicles hold their value better than others.
Replacement cost is how much youd have to pay to buy a new version of the same or a similar vehicle. Its higher than the ACV.
Because cars depreciate so quickly, its easy to become upside down on an auto loan or lease, especially if you put little or no money down. Having GAP coverage can help mitigate this risk. It helps pay the difference between what your car is worth and what you owe the lender or leasing company. Many GAP policies even cover your collision or comprehensive deductible. And with GAP coverage, you wont have to worry about whether the ACV of your vehicle is high enough to pay off your loan or lease.
What Should I Pay For A New Car
You might find the same new car at a lot of different dealerships – but how do know what you should pay? For new car shoppers, the Kelley Blue Book® Fair Market Range and Fair Purchase Price go beyond widely available new car prices like MSRP and dealer invoice to show you what you can expect to pay for a new car in your area this week. The Fair Market Range and Fair Purchase Price are based on massive amounts of data, including actual transactions – then adjusted for seasonal trends and local market conditions in over 100 geographical regions. In other words, you might expect to pay a little different price for the same car in Portland, Oregon vs Portland, Maine. It pays to have some solid facts in your pocket. Good thing KBB.com has done the analysis for you.
Also Check: Where To Find Title Number For Car
How Accurate Are Kelley Blue Book Car Values When Selling Your Car
Car sellers often turn to Kelley Blue Book® to find out how much is my car worth. Kelley Blue Book or KBB is a respected used car price guide often quoted by used car dealers to demonstrate that prices of cars on their lots are fair. When it comes to realizing the Blue Book price when selling a used car outright, sellers often find their expectations are set too high.
When trading in your car for a new car, you’ll usually be offered an attractive price for your car. Dealers use questioning techniques to find out whether you’re more interested in a great trade-in price or are looking for a big discount on a new car and will tailor the deal to give you the perception of value. The most important factor for you as a buyer, however, is the cost to change. Attractive trade-in prices are usually subsidized by reducing the discount on your new car. The dealer is looking at the overall profit on the deal.
For a fair value for your car, try the fast, safe and fair way to sell your car today at webuyanycar.com®. Need convincing that the KBB value may not be as accurate as you think? Check out KBB Instant Cash Offer. This is where KBB gives you a better idea of your car’s true value which may be much lower if you’re not trading in against a shiny new car with a very high profit margin. Remember, KBB makes money from selling leads to dealers.
