by Jim Thompson |
Last Updated: January 11, 2021 Whether you’re buying or selling a vehicle, the Kelley Blue Book can help you get the fairest value. There’s nothing worse than paying more than you should or selling a vehicle for far less than it is worth. While this appraisal tool isn’t always 100% accurate, it will help you approximate the value of your vehicle.
What’s Kelley Blue Book?
Kelley Blue Book is an online resource that you can use to find out approximately what a vehicle is worth. Simply put in information about the vehicle, and a value will be spit out in the end, letting you know just what the vehicle is worth overall. It’s best for used vehicles, but some auto buyers also rely on the resource for new vehicles.
Using it for New Vehicles
You can use Kelley Blue Book to help you figure out what a new car is worth. You won’t get a definite price tag, but instead a range of fair values that you should be paying for the vehicle.
To make use of this resource, visit KBB.com and choose price a new vehicle. You’ll have to pick out the year and model of the vehicle. You’ll also have to choose the trim style of the vehicle and select any added features that the vehicle may have. After that, you’ll be rewarded with a set of values indicating a fair price. The range includes the MSRP from the auto manufacturer, as well as destination charges that the dealership had to pay to get the vehicle. This is a fast and easy way to learn whether the dealership you are considering is offering a reasonable deal.
Used Car Pricing
Kelley Blue Book really excels when pricing used vehicles because they are much harder to price accurately.
To use the tool for that purpose, you’ll again have to visit the website and then choose to appraise a used vehicle. You’ll have to put in all the same information about the vehicle, including the year, the model, the trim of the vehicle as well as any additional features it has. To help you determine the most accurate price, you will also have to include the mileage and condition of the vehicle and your location.
Using it to Buy a Vehicle
If you plan on buying a vehicle, you can use Kelley Blue Book to help you figure out if you are paying the right amount for it or not. The value that you get for the new or used vehicle will let you know just what it is worth and whether you should go for the deal or not. Make sure that you also look at other comparable vehicles in the area when coming up with a price and take your time assessing the value before you make your final purchase decision.
Kelley Blue Book isn’t always going to give you a perfect value for pricing your vehicle, but it’s a useful tool for estimation purposes. If you are selling, it’s worth consulting when you are trying to figure out how you should be pricing your vehicle.