Kelley Blue Books is an older company. It was established in in California. Les Kelley, a founder of the company, was an ambitious car salesman at a time. He started documenting used car prices. At first, Kelley employed it at his job, evaluating a used car that he bought or sold. When his archive expanded, Kelley began to see some business opportunities. Was even more valid question back then.
Both, dealers and ordinary consumers needed professional help with evaluating used cars. KBB car value is calculated using a complex formula. Those are parameters that have significant weight:. When KBB calculates the value, they use an algorithm that combines information about your car and general data from the market.
On the same website, you can compare the value of your car with values at various dealerships and other sellers. KBB gathers information from all states and you can easily compare prices in different states. KBB Trade-in value of the car can also be calculated on the same website. When finding trade-in value, KBB uses the same method and parameters. Edmunds was founded in Ludwig Arons, a founder of the company, named it Edmunds Publications. They published booklets consolidating automotive specifications and helped car buyers to make educated decisions.
The company grew in popularity and attracted investors. The person I dealt with at the Honda dealership was quite pleased with the accurate information I submitted. Using this method was perfect for me. I wasn't interested in the hassle of selling the car myself.. I purchased the car, but did NOT give them my trade. Despite reading so many negative reviews, I reluctantly gave KBB cash offer a try.
I received messages from dealers, 1 of which seemed genuinely interested. All I can say is that I was absolutely stunned when the dealer's offer was the same as the KBB instant cash offer.
The entire transaction took about an hour. No one is more surprised than me at the outcome. My experience with KBB could not have been more positive. I do not hesitate to post a negative review and call a company out when they've treated me badly. Likewise, it's only fair that I post a positive review and sing a company's praises when they treat me well.
In less than 2 hours from getting the KBB online offer, I had a check in hand and was on my way. The people who have been saying negative things about dealerships low-balling them, well, if you had been honest in your assessment of your car's condition, then you would have gotten what KBB said the value of the car was. Luckily, if you are shopping for a new car or would like to sell your old car, you no longer need to visit dealerships and waste your time reviewing paperwork.
Thanks to the great tools and websites that guide car pricing in the automotive industry. No reconditioning is needed. Glossy paint and no damage. Nearly-new tires. Clean title and passes emissions. Very few vehicles qualify for this condition. Clean : Normal wear, but no major cosmetic or mechanical issues. Glossy paint but may contain a couple of nicks. Minor reconditioning may be needed. The tires still have significant tread. Clean title and can pass an emissions inspection.
Average : Requires significant reconditioning and may include cosmetic or mechanical issues. Dull exterior paint with several dings or scratches. Worn interior. Tires with usable tread.
Clean title and can pass emissions. Rough : Requires significant repairs for many cosmetic or mechanical problems. Interior and exterior need repairs. Tires may need replacement. Can pass emissions with minor repairs, still has a clean title. Damaged : Major body and mechanical damage. It may not be in running condition. May have a branded title flooded, salvaged, damaged, etc. Edmunds Used Car Values The Edmunds appraisal calculator provides you with these four values: Trade-In Price : A reasonable dealership offers to trade in your current vehicle for your next car.
This value is always the lowest. Private Party : What you can expect to get as a seller if you sell privately. Dealer Retail : What used car customers can expect to pay at a dealer. Certified Used : This only applies to new enough vehicles if your vehicle could be sold as a certified pre-owned by a dealer. What is Kelly Blue Book Value? Using KBB value is simple. Enter the make, model, year, and mileage.
Verify your zip code. Select the car category and style. Or you could knock a grand off if you buy the manual transmission version. If the previous owner maintained by mileage instead of by age, there could be some poorly maintained parts. It takes a good mechanic or an observant owner to switch over to the age-based recommendations when it is clear that the driving mileage is much lower than the average.
It should also have been switched over to the more aggressive maintenance schedule for extreme weather or harsh driving, and that is often overlooked because people don't realize driving a car lightly can be harsh driving.
Depending on the type of oil used, engine wear can sometimes be harsher with low mileage cars. If the car does not immediately sell within a few days of listing then the car is overpriced or there is something wrong with it. I find that price discovery in the used car market is really transparent as long as you are patient and do not let your emotions get the best of you. If you can find someone with access to the black book dealer's pricing bible then you really get a good sense of value.
Closed the deal that afternoon. My car is not synthetic oil, so I get it done every 6 months mid-spring for summer weight and mid-fall for winter weight whether it has reached miles or not. There should have been a few other fluid changes based on age over the 8 years as well, not just oil changes. Brake fluid can build up water over time and should be changed regularly every few years regardless of miles.
The other fluid changes would depend on the maintenance schedule for that make, model, and year. I probably go a bit overboard with doing maintenance based on years instead of miles, but I've seen my dad ruin three cars the latest at a cost of nearly 10k to repair due to neglecting fluid changes and maintenance in general.
Also, there may be belts reaching the end of life after 8 years in a car, although nothing too expensive as that seems to be a model with a timing chain instead of a timing belt. The tires would likely be weathered and require replacement if they are still the originals. The battery might also be on the way out if still original.
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