What is the difference between Kelley Blue Book and Black 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.

What is black book clean value?

Black Book is what dealers and lenders typically use to look up pricing information on new and used vehicles. It is an automotive valuation resource that uses proprietary knowledge to pool historical and peripheral data points about a vehicle to determine its wholesale price and market value.

Do car dealers use black book?

Dealerships will undoubtedly use Black Book to determine how much your trade-in is worth. Black Book is typically more conservative than other book values. This is another reason why dealers typically rely on their values — it allows them to make more money when they sell the vehicle.

Do dealerships honor KBB?

Most dealers do not use KBB for trade-in (wholesale) values. Instead, many rely on National Auto Research’s Black Book or the Manheim Market Report, neither of which is available to the public. More important, both tend to skew lower than KBB in wholesale pricing.

What is the actual cash value of my vehicle?

The ACV, or actual cash value of your car is the amount your car insurance provider will pay you after it’s stolen or totaled in an accident. Your car’s ACV is its pre-collision value as determined by your car insurance company, minus whatever deductible you are required to pay for your comp or collision coverage.

What Blue Book do dealers use?

The Kelley Blue Book
The Kelley Blue Book—and its equally popular website—is one of the most trusted guides for automobile pricing, used by those who are buying or selling cars. Kelley assesses the following values: private party value, trade-in value, suggested retail value, and certified pre-owned (CPO) value.

Is KBB price accurate?

Is Kelly Blue Book accurate? The short answer is no. Sometimes it takes a while for the information to get to KBB and reported in their pricing charts. In order to post prices they use an algorithm that takes prices posted on Autotrader which is the most widely used car selling site on the internet (and owned by KBB).

What is a little black book?

Filters. A personal address book, esp. one containing the names of companions considered available for dating. noun.

What is the most accurate car valuation?

The Kelley Blue Book—and its equally popular website—is one of the most trusted guides for automobile pricing, used by those who are buying or selling cars. Kelley assesses the following values: private party value, trade-in value, suggested retail value, and certified pre-owned (CPO) value.

What book does car dealers use?

the Kelley Blue Book
Car dealers use the Kelley Blue Book to set their retail prices. Edmunds also has a free car appraisal tool that helps you calculate what the retail price for a used vehicle should be. And there are even more guides: Dealers also use NADAguides and the Black Book to evaluate used cars and potential trade-ins.

Why is KBB so low?

Here are factors that could affect how accurate the KBB values are: 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. Mismatched data – Most dealers do not use KBB for trade-in (wholesale) values.

What does Black Book mean for used car values?

Black Book Values focuses on data points that can help lenders and dealers better identify vehicles with lower risks and higher potential profitability.

How are the values in the Black Book determined?

Our values are a product of years of experience, incorporating both subject matter experts and data scientists aided by powerful machine learning techniques. History adjusted valuations available for our light duty cars, SUVs, and trucks.

What’s the difference between Black Book values and nadaguides?

Black Book Values service offering differs from NADAguides in the fact that they do not offer direct to consumer services. Rather, their services are ready made for businesses such as auto lenders and dealers.

Why is it important to know vehicle values?

Values make a huge impact on your business, meaning you need the most reliable and precise data possible. With historical, current, and residual values, you are able to use values throughout the automotive lifecycle.