Why is it called the Kelley Blue Book?

In 1926, Kelley published his list in book form for the first time. He named it after the Social Register, a list of the important and elite people in local society often referred to as the Blue Book. The Kelley dealership continued to expand until it was the largest used car dealer in the country.

What does Kelley Blue Book value mean?

The Kelley Blue Book® Auction Value is Kelley Blue Book's estimate of what a vehicle is expected to sell for at a wholesale auction. It assumes the seller has properly disclosed the condition of the vehicle.

Who is the Kelley Blue Book named after?

Les Kelley named the publication "Blue Book" after the Blue Book Social Register, which listed prestigious people in the community. At the same time, Les and Buster Kelley developed their used-car dealership into a profitable and innovative enterprise in the early 1920s.

What's the difference between Black book and Kelley Blue Book?

The Blue Book® is where drivers look to know what amount they can expect to purchase a vehicle or sell a vehicle for. The Black Book, however, deals more with up-to-date car sales and wholesale pricing values, so the information is more useful for car dealers.

Why is Edmunds and KBB so different?

Edmunds currently only offers values and pricing for cars and trucks. Edmunds is a privately held company, with CarMax holding a minority stake. Edmunds has proprietary trademarks over Edmunds Suggested Price. Edmunds is not affiliated with Kelley Blue Book or Cox Automotive.

The TRUTH about Kelley Blue Books Value

Why is KBB not accurate?

Some Issues With KBB Pricing

Some factors that could affect the accuracy of KBB values are lag time, consumer bias, and mismatched data.

Do banks use NADA or KBB?

Most banks use NADA values; however, some use Black Book or Kelley Blue Book. Ask whether their LTV percentage is calculated upon the vehicle's "loan" value, "trade" value or "retail" value.

Is KBB accurate right now?

Nowadays, the KBB continues to be one of the most trusted sources in the used car market. KBB relies on a massive data bank that leverages sophisticated calculating technologies in order to create the most accurate price estimate possible.

Is Kelley Blue Book accurate 2021?

Is Kelly Blue Book accurate? The short answer is no. Let me explain what goes into these price guidelines. Dealers use Kelly Blue Book to establish the value of trade-ins as well as comparing numbers to set their lot prices.

What does black book mean?

black book. noun. a book containing the names of people to be punished, blacklisted, etc. in someone's black books informal out of favour with someone.

Does AutoTrader own KBB?

Kbb.com provides consumer pricing and information on minivans, pickup-trucks, cars, hybrids and SUVs. Kelley Blue Book Co. Inc. is a wholly owned subsidiary of AutoTrader.com.

When was Kelley Blue Book started?

The company started back in 1926 when Les Kelley, an astute car dealer in Los Angeles, began creating a list of used vehicles and the amount of money he was willing to pay for them.

Is fair market value the same as KBB?

The Fair Market Range reflects the range of prices that Kelley Blue Book estimates most people will pay for a specific vehicle this week based on its year, make, model and style.

Is Kelley Blue Book still in business?

Do you still sell the printed editions of Kelley Blue Book? No. For over 90 years, Kelley Blue Book published Used Car Guides providing values for used cars and trucks. For over 40 years, Kelley Blue Book published the Motorcycle Guide, but in 2017, we published our last printed book.

Why do cars have a different mpg in the city and on the highway?

First and foremost, it's because city driving is harder on your engine than driving on the highway. This is because your engine has to work harder to stop and start and change speeds frequently when you're on city streets. This requires more gas (and burns oil faster), and therefore reduces gas mileage.

Why is Carfax value so high?

Overall, the level of detail that Carfax provides is a major reason it is so expensive. The pricing helps to ensure that the information is accurate, detailed, and clearly presented to those who need it the most.

What is the best car valuation site?

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.

What is the most accurate car appraisal site?

1. Kelley Blue Book. Whenever you're looking to value your used car, Kelley Blue Book is the place to start. KBB has been valuing cars for the last nine decades and has an enormous amount of data to figure out the most accurate value of your used car.

Should I wait to buy a used car 2021?

It's about more than the chip shortage, with the problems extending to both new and used vehicles. It may be tempting to pick up a new truck this year, but now's not the time. If you're considering buying either a new or a used car as 2021 draws to a close, we respectfully suggest that you reconsider.

Will car prices go down in 2022?

When new car production resumes, prices for new cars should fall. According to recent industry data, this might happen as early as 2022, with the market returning to normal by the end of this year or early next year.

Why are cars so expensive right now?

A shortage of workers has also led to fewer new vehicles being made. Kelly Blue Book said car manufacturers had more than 584,000 jobs in October they were unable to fill. Fewer new vehicles on lots also means fewer people are selling off their old vehicles. This led to a shortage of used cars, driving the price up.

Is KBB and NADA more accurate?

Also, NADA lists relatively higher prices, with the assumption that all vehicles are in great condition. For this reason, some believe that Kelley Blue Book is the more accurate guide between the two. On the other hand, some dealers see KBB prices as a bit overinflated, leading them to rely more on the NADA guidebook.

How often is Kelley Blue Book updated?

How often do your values change? Kelley Blue Book updates or verifies our values and pricing at least once a week to give dealers and consumers up-to-date information.

What book do banks use to value cars?

Most lenders use the National Automobile Dealers Association (NADA) book to determine the value of the vehicle. This allows them to input various options that could increase the value of the car.