Using the Kelley Blue Book
Wednesday, March 11th, 2009 9:58 am
Are you thinking about purchasing or selling a car? If so, you might want to consult with the Kelley Blue Book in order to help you make the best decisions about your transaction. Most people that have sold or purchased a vehicle have heard about the Kelley Blue Book, but this doesn’t mean that they understand how to use it or why it is helpful when selling or purchasing a vehicle.
Understanding the Blue Book Value
If you have ever heard the phrase “blue book value,” you have heard someone discussing Kelley Blue Book – even if they didn’t fully realize what they were quoting. The fact is that the Kelley Blue Book has become such an authority when it comes to rating the value of cars that the term “blue book value” has pretty much become synonymous with the term “market value.” This is because many automobile dealerships consult the Kelley Blue Book in order to determine the trade in value of a vehicle a customer wishes to trade in and many consumers consult the Kelley Blue Book in order to get an idea of how much they should expect to pay for a particular vehicle.
The History of Kelley Blue Book
The history of Kelley Blue Book is actually quite interesting. The original “blue book values” were actually written out on a list that was made by Les Kelley, who was the owner of a two man car dealership that was in operation back in 1918. Kelley’s list contained a variety of different vehicles and the amount he was willing to pay for them so he could put them on his lot.
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It didn’t take long before other dealers started to take interest in the list and before banks began to consult the list when giving out loans. The first book, however, wasn’t released until 1926. Up until the 1940s, even the book was mostly used only in the Los Angeles area. Since then, the book has bone national and is used by car dealerships, banks, and insurance companies around the country.
Finding Information in the Kelley Blue Book
The modern day Kelley Blue Book offers a great deal of information about cars as well as about RVs, motorcycles, mobile homes, snowmobiles and personal watercraft. Information you can find in the Kelley Blue Book the suggested retail price, the dealer invoice price, private party prices and the trade-in value of the vehicle. You can also read what other people have to say about the vehicle.
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