I use the kelley blue book and the black book for used car valuation. Both can be valuable sources of price data as you approach the bargaining table on your next used car. And with black book cherry it eliminates those issues saving my time, headaches, and money. Its like walking in and negotiating with cash when you go to the dealer. This is the most commonly used book by dealers to evaluate tradeins, you must have a dealer s license or know a dealer to get your hands on one.
Black book weekly values lite black book used car values. Based on research, weve found that most dealers use the yellow nada book. Much the same way banks generate credit card offers to propective customers. The kelley blue book price is a trademarked car valuation from kbb.
The used car prices black book and blue book values serve different purposes. The main difference between kelley blue book and nada tradein value is the data they use kelley blue book gathers information to determine pricing by using information from. Edmunds also has a free car appraisal tool that helps you calculate what the retail price for a used vehicle should be. Never get into a used car without knowing exactly how to get out of it. If you dont know how the industry appraises cars, you wont be able to effectively negotiate your current cars appraisal value. Data solutions for dealers precise data to maximize. Personally, i always suggest prequalifing for your auto loan through your own credit union or bank. Free expert car valuations from hpi hpi valuations. Used car trade in value how a dealer figures trade values. Knowing your vehicles tradein value before you visit your new car dealer is essential, as you wont be able to effectively negotiate your current cars appraisal value without it. Its valuations reportedly run higher than valuations on, but. Reese has never heard of it and wonders if its another. This service helps you attain and compare used car tradein values for vehicles up to 14 years old.
To find the black book value of your new or used car, simply follow the link below. The black book family of vehicle appraisal guides, widely known in the automotive industry for providing timely, independent and accurate vehicle pricing data, is published by national auto research, a division of hearst business media. Its incredibly important for dealers to be as uptodate with their pricing as possible. Canadian black book canadas number one source for car values. Its like fico and the others but only generates a soft inquiry because it does not verify all your credit info.
Many people use this term, along with black book or edmunds tmv. Knowing your tradeins value before you visit your new car dealer is essential. We use real values of local cars for sale by other franchised dealers to provide a more accurate instant market value estimate of your used car. I am a fairly new dealer in this used car business, and have faced numerous obstacles and difficulties getting my business off the ground. Their pricing and value data includes statistical analysis that allows for current and timesensitive changes in historical valuation to be easily understood resulting in reliable predictors of values and potential risks. Hpi has a team of highly experienced researchers who work closely with various industry experts and motorists to collect and analyse data on a weekly basis. Visit canadian black book and select a make and a model to find the right car that suits your need. Use these tools provided by nadaguides trusted partners to complete your car shopping experience. Since those early beginnings, kelley blue book has become the gotochoice among both dealers and. These values are calculated from the same black book data dealers use to appraise vehicles, giving you the best estimated value. New car prices and used car book values nadaguides. Which guide do most car dealerships use to price there. If their prices are too high, theyre missing out on valuable sales. A detail step by step guide to starting a successful preowned car lot business for all 50 states.
Used car dealership appraisal tool provision vauto. Black book values focuses on data points that can help lenders and dealers better. The kelley blue book gets more traffic when it comes to being used by buyers. Also known as a police book, our hard cover used car record book satisfies federal requirements to keep track of used car sales, has a black cover, and is 8. Though seemingly similar, the black book and kelley blue book serve slightly different purposes. The difference between kelley blue book and nada tradein. Galves printed books list the last 12 years of vehicle pricing data. What do dealers really mean when they refer to the blue book price. If you dont know how the industry appraises cars, you wont be able to effectively negotiate your current car s appraisal value.
Black book values focuses on data points that can help lenders and dealers better identify vehicles with lower risks and higher potential profitability. Reese went to trade in his truck and was told by the dealer that they use the automotive black book. Consumers like yourself arent the only ones who find value in canadian black book prices. The industryleading live market data in provisions appraising tool gives you the most accurate used vehicle pricing information available. Professionals from around the auto industry rely on black book for a variety of datadriven activities.
In addition to kelly blue book to there are other sources for used car prices. They will use a number of resources, namely kelley blue book and nada tradein value, but they mainly rely on their years of experience appraising cars. The kelley blue book value is a price for a particular automobile make and model from the largest automotive valuation company in the u. Its important to understand these differences as dealers may use more than one valuation source in formulating an offer for a potential tradein. The origins of kelley blue book date back more than eighty years, when a young car salesman from california, les kelley, began compiling a list of car prices as a tool for helping him evaluate vehicle value. The black book is similar to price guides such as the kelley blue book and nada guide, but it is less wellknown. When figuring the used car trade in value dealers rely mainly of two values, neither of which is the kelly trade in value. Research the latest new car prices, deals, used car values, specs and more. Trust sid savage, your number 1 source for auto dealer supplies. Black book provides the wholesale or auction value of your car, which is the amount a dealer might pay for it. The black book is one of the main sources of data car dealers use to set prices for used cars and tradeins. Lynn faeth, owner of the scout connection dealership in iowa, had this to say on the two uses. Black book used car values kelly black book nadaguides. Some dealers will say they use black book or kelly blue book, they dont really, if they give you kbb value for your trade they just infalte the price of the car they are selling to cover the difference or make thier money selling you accesories or something else.
Jul 23, 2012 by black book, division of hearst business media. Every valuation comes with listings of cars available from dealers in your area. Nadabut, nada is usually used by banks or car dealers to show you an inflated price value. The biggest issue has been locating, assessing, and evaluating inventory. Youll get full access to resources that can help you prepare for a private sale or a trip to the dealership, negotiate the best deal possible and. Let kelley blue book help you negotiate the best price for your vehicle tradein, find a dealer that has the car you want, and start the tradein process. Canadian black book provides free car values, new and used car prices, and vehicle listings. Theyre all terms used to describe the estimated market. From used car lots to new car dealers, they all claim to sell cars at or below blue book while buying your tradein well above blue book. Car dealers are experts when it comes to deciding a tradein price. The reason i dont recommend using this book is because most dealers will buy cars well under nada clean trade. Automotive data with black book powering the auto industry with.
Both books claim to be the more accurate source of used car pricing guides. They have been around since 1918, while black book started in 1955. As a thrifty car shopper, you may have heard dealers refer to a cars blue book value or learned of a reference guide called the black book as you hunted for used car deals. I recommend this app because its values are precise.
Black books are the most accurate as they reflect actual dealer auction prices as opposed to theoretical prices of nada or kbb. Kelley blue book and edmunds kelley blue book and edmunds are two of the most well known used car pricing guides in the united states. Blue book wants your zip because local car dealers want your dollars, and blue book wants theirs. Data black book acquires their pricing data from wholesale auctions, and retail. The kelley blue book is the most popular usedcar buying guide. That may make you scratch your head a bit, but the kelly or kbb trade value is more for consumers looking.
Black book is an essential tool for our dealership. The dealers guide to black book dealercue university. I think blue book car prices show tradein values lower than other sources which can help you during your used car negotiating. By using this site, you agree to the terms of use and privacy policy. In the world of used car sales, there are no preset values, so a dealer is free to use whatever sticker price it wants for a used car. Blue book values are updated weekly, the company says. An icon in the shape of a persons head and shoulders. Nada guide, black book and kelley blue book compared autoblog. Get used car values with edmunds car value appraisal tool. Unfollow black book used cars to stop getting updates on your ebay feed. Thousands of dealers spent millions of dollars daily using galves.