How the Kelley Blue Book Works
Les Kelley, the owner of a successful used car dealership in the mid-teens of the 20th century, created lists of the cars he wanted to buy and how much he would pay for them. Then he began to send these lists to other banks and dealers.
It became so valuable, that he eventually published the first Blue Book in 1926. At that time, it was just a price guide with a list of cars and their accompanying prices.
Today, the Kelley Blue Book is a guide for used and new cars, classic cars that date back to the 1940's, and motorcycles and recreational vehicles. That's 100 years as a respected resource guide for car dealers around the country as well as consumers!
A lot of the Kelley car information is free on the company's site. And all of its information pertains only to vehicles sold here in the States. So how can you use it to help you buy your next car?
Here's a quick rundown.
Kelley Blue Book New Car Guide
Thinking of buying a new car? The New Car Guide from the Kelley Company contains pricing information on cars for the current model and year, such as:
• Dealer's cost
• Manufacturer's Suggested Retail Price (MSRP)
• Any extra costs such as shipping
• Options for pricing schedules that buyers can choose
Kelley Blue Book Used Car Guide
This guide contains information on car values from the last 15 years. For example:
• Trade-in price-the price a dealer would offer for your trade-in
• Retail price-the price you can expect to pay at a used car dealership
• Private sale price-the price you can expect to get it if you sold the car yourself to someone else
The Used Car Guide also has tables and charts to calculate the price of the car based on its condition, mileage, and optional components. And it describes how those factors influence the total value of the vehicle.
There's a separate Blue Book for older cars, and one for motorcycles and RV's.
The Blue Book might have started out as a resource just for dealers, but it's now a valuable car buying guide for everyone. It's easy to use and even includes a "How to use this book" section for information relating to optional equipment and mileage.
We rely on KBB and we expect our customers to do the same.
To buy a quality new or used car, visit the Joe Bowman Auto Plaza showroom in Harrisonburg, VA today. Or, visit us on the web!
