Many dealerships and individual sellers turn to Kelley Blue Book in order to determine the price of a used car. Since used cars can vary greatly in condition, features, and mileage, it can be challenging to arrive at an accurate price. There are few better options than Kelley Blue Book, though, when it comes to establishing the value of your trade-in vehicle.
Kelley Blue Book is, by far, one of the most trusted guides for determining what a trade-in vehicle is worth. One misconception both buyers and sellers have, however, is that the Kelley Blue book website sets vehicle prices.
In order to determine what a vehicle is worth, Kelley Blue Book looks at the car’s supply and demand. It can take some time for that information to reach the company and effect the pricing charts. Kelley Blue Book draws its information from Autotrader, the most popular car selling website. The algorithm pulls pricing from weekly auto auctions, allowing the company to establish itself as an authority in used car pricing.
Demand for used cars has risen dramatically in the past few years. The higher levels of quality and reliability have made cars last longer than ever before. Those factors, plus an increasing number of total existing cars, have made tracking used car pricing difficult, but Kelley Blue Book has evolved with new algorithms that allow it to keep pace.
If you have any questions about pricing your trade-in vehicle, contact us at Coast to Coast Imports.