Why The Kelly Used Car Blue Book Value Is Wrong!
Posted: Sunday, March 22, 2009
by Mike Reitz
Show Me Cool Cars
The Kelly used car Blue Book value is one of the oldest resources around for determining the value of your used vehicle. Unfortunately, with the ever-changing market today the used car blue book value that you are getting may not be accurate.
The Kelly Blue Book determines the value of a vehicle by:
Looking at current market conditions and seasonality. Analyzing collected data from auction houses around the country. The make, model and year of the vehicle are used to determine the value. And, mileage, condition of the used vehicle and other options are also considered in determining the value.
What The Books Don't Tell You.
Supply and demand is a major factor in determining values. If an area has an abundance of Jeep Liberty's, then the price will decrease on these vehicles. 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.
The used car Blue Book value, and other books, generally gives you above average, average and below average values of your vehicle. Unfortunately, your opinion and the Dealers opinion may be totally different on how they see the value of your vehicle.
Today it takes the keen eye of an experienced appraiser, who is familiar with the market conditions to determine the real value of your vehicle. I have never seen a book do this.
Why do the Kelly Blue Book, Edmonds and the N.A.D.A. book tell you your vehicle is worth more than what it is?
A couple of reasons for this are:
One: These websites make their money from selling advertisements.
Two: A higher price means more visitors more income!
None of these sites are in the market of buying used vehicles and they will never write you a check for what they say the value of your car is worth.
Use the Internet and these resources as a place to begin in determining the value of your vehicle. Don't get fooled into believing they are absolute values for your trade. They are only a guideline.
Your cool car guy, Mike Reitz, brought this article to you today from Colorado. I would like to invite you to visit our site at www.showmecoolcars.com and discover how you can save money and time on your next used car, truck or SUV. Discover for yourself a new alternative for buying your next used vehicle. You'll be pleasantly surprised, I promise.
You can email me at: mike@showmecoolcars.com
This Article has been viewed 1,361 times. (Not updated in real-time.)
Top-level comments on this article: (2 total)It sounds like the way to find the value of a car is very simmilar to finding the value of antiques. Great articel, well done.
Right on target. So nice to hear someone say this.
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