Kelley Blue Book: What is It and Why Do I Need It?

Whether you are looking to purchase a new car or sell your current car, there is one source that you want to refer to first, Kelley Blue Book. It is not touted as “The Trusted Resource” for nothing. In fact, if you do not do some research on Kelley Blue Book beforehand, then you will probably end up paying too much.

What exactly is Kelley Blue Book?

To put it simply, it is the most popular resource for car values, new and old. It will look at the current condition of your car, how many miles are on it, what features it has on it, and where you live. It puts all of these details into some super secret formula to tell you how much your car is worth. While the Kelley Blue Book used to be sold as an actual book, it is now primarily accessed via the World Wide Web.

How will it save me money?

There are two main ways that the Kelley Blue Book will save you money. First off, if you are looking to purchase a new car, it will tell you what you can expect to pay. Whether you are purchasing new or used, you will definitely want to check The Book first so you know where to start the negotiating process.

More importantly, the Kelley Blue Book will make sure that you get what is owed to you when you are getting rid of your car. If you want to sell it privately, it will tell you what a fair asking price is.

You will especially want to check your car’s value if you plan on trading it in at a dealership. Car dealerships are all about getting as much of your money as possible and the easiest place for them to get this money is by giving you less than they should for your trade-in. Many people do not realize that this figure is negotiable, but it undoubtedly is. In fact, if you are purchasing new, it may be one of the few places where the dealership has some wiggle room. For this reason, you should print out the Kelley Blue Book value of your car before you ever head out to the dealership. Hold your ground and you are sure to get what you deserve.