One of the most useful tools to use when searching for a vehicle sold by used car dealers is the Kelley Blue Book. Since 1926, the Kelley Blue Book has been the go-to resource for future car owners looking to evaluate the vehicles they are considering. This book is especially useful for people who are dealing with used car dealers and trying to purchase a reliable used vehicle. But how accurate is the Kelley Blue Book? In today’s blog post, Crossroads Ford Lincoln takes a look at the accuracy of the Kelley Blue Book and evaluates what Kelley Blue Book value really means.
What Does Kelley Blue Book Do, Exactly?
While founded in 1926, the beginnings of Kelley Blue Book go back to 1918 when Les Kelley became a used car dealer in Los Angeles. He began creating a list of used cars from used car dealers that he wanted to buy. The salesman’s list evolved into the Kelley Blue Book. Essentially what Kelley Blue Book does is evaluate vehicles and establish their value so that potential buyers can have a trustworthy resource ahead of purchasing a car. KBB is, without a doubt, the most widely accepted new and used car guide for consumers.
How Does Their System Work?
Kelley Blue Book uses several different sources to create their pricing structure, considering factors such as:
- Dealer pricing reports
- Private sale vs. retail sale value
- Used car dealer credibility
With these sources, KBB’s proprietary algorithm analyzes and determines what the value of the vehicle is based on the best information available so that consumers can know what they’re buying and if their dealership is offering an unfair price. These values are a phenomenal tool for anybody looking to buy a used car, and they give the consumer a trusted resource to fall back on when negotiating with a dealer.
Is KBB Reliable When Working with Used Car Dealers?
As with any supplemental resource, Kelley Blue Book values should not be the only resource car buyers use when looking for the best price. Other resources such as Edmunds and the National Automobile Dealers Association (NADA) can also be beneficial because they use their own algorithms. Each resource gives you a good set of comparisons. KBB itself is very valuable because it takes into account a myriad of factors when coming up with a used car price. Any consumer looking to buy a used vehicle from a used car dealer would be wise to consult these prices.
Contact Crossroads Ford Lincoln For More Information
For consumers looking to buy a vehicle from a used car dealer, getting the best deal can be a challenge. Finding the perfect car for you and your family takes time. For more information on the used cars and SUVs we offer, call Crossroads Ford Lincoln today at (502) 695-1990 or contact us online.