Kelley Blue Book | New and Used Car Price Values, Expert Car Reviews (2024)

FAQs

Is Kelley Blue Book accurate for new cars? ›

Kelley Blue Book's lead analysts and statisticians review and validate the data each week for reliability. Some sites and tools purport to show you the drop-dead lowest prices, but the Kelley Blue Book Fair Purchase Price gives you a realistic view of what a new car is actually selling for.

Both Edmunds and Kelley Blue Book are reputable sites that offer pricing information. The accuracy of an appraisal has a lot to do with the information the owner provides. If you overstate the vehicle condition or don't check off the correct trim level and options, your value is less likely to be accurate.

KBB factors in the condition of the vehicle, local market conditions, and popularity of the vehicle, so their prices tend to be a lower than NADA. NADA values tend to lean higher because they assume cars are in good conditions.

Many experts believe Edmunds' values are more accurate than KBB's. That's not always the case, of course, which is why getting several estimates and averaging still makes the most sense.

KELLEY BLUE BOOK – OVERVIEW

While Black Book is mostly used by dealers, Kelley Blue Book (Not spelled Kelly Blue Book without the “e”) is mostly used by individuals looking to trade in or sell their vehicles.

Lag – It takes time for data and analysis to make its way through KBB. Prices listed may not always reflect the very latest trends and economic conditions. Consumer bias – Most people think the car they are selling or trading in is in better condition than it really is.

Private Sale. You can likely get the most money for your car by selling it privately. This is because you're selling to the next owner directly instead of through a middleman like a dealership or car buying website.

For over 90 years, Kelley Blue Book has been The Trusted Resource for used car values, helping car owners understand what their used car is worth. Depending on the method of disposal, there actually may be more than one Blue Book Value for the consumer's car, truck or SUV.

The books don't take this into account. The real value of your vehicle is determined by what someone will pay for your vehicle today. With the high demand of used cars these days, prices can vary from day to day. None of the books will reflect this change.

Do dealers use KBB or NADA? ›

Trusted by Dealers: Dealers also rely on NADA and KBB to help them sell cars and to determine trade-in values. Multiple Price Options: NADA and KBB each provide trade-in values and retail values. Range of Values: Both NADA and KBB provide multiple values for trade-ins.

“Very Good” condition means that the vehicle has minor cosmetic defects and is in excellent mechanical condition. This vehicle has had minor or no paint or bodywork, and requires minimal reconditioning. The engine compartment is clean and free of fluid leaks. This vehicle is free of rust.

How Accurate are Kelley Blue Book® Car Values When Selling Your Car? Kelley Blue Book (KBB) values can be a helpful starting point for estimating the value of a car, but it's important to keep in mind that they are just estimates and may not always be 100% accurate.

An HPI car valuation provides the most accurate and reliable car valuation available. Not only is our service free, but we also give you more information than any other car valuation provider. If you're looking for a used car value, then look no further than HPI valuations.

Please note that insurance companies do not have any obligation to use Kelley Blue Book pricing to determine replacement values. Insurance companies use Kelley Blue Book as a reference but will set their own policies as to which values they use.

The accuracy of KBB values can vary depending on several factors, such as the condition of the vehicle, its location, and the current market demand for that particular make and model. KBB values are based on a number of factors, such as the car's make, model, year, mileage, condition, and features.

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.

On average, cars lose around 10 to 15 percent of their value per year, with higher depreciation rates near the beginning of the vehicle's lifespan. But some cars lose value faster than others: according to Edmunds, new cars lose between 6 and 45 percent of their value in the first year of ownership.