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The KBB Used Car Value, Is It Accurate?

Kbb-Used-Car-Value The KBB Used Car Value, Is It Accurate?

The KBB Used Car Value, Is It Accurate?

Nowadays, people who want to sell or purchase a used car often go to the Kelley Blue Book – is well known for KBB. Based on the analysis which has been conducted by Omniture SiteCatalyst, people who visit the KBB website is around 19 million in a month. Perhaps, it is normal because the KBB is one of the well known and trusted automobile guides in the automotive pricing. But, is the Kbb Used Car Value is reliable and accurate? To answer this kind of question, we may will give you some information about the Kbb below.

How does KBB determine the values of used car?

Here, the KBB has relied on the constant flow of some pricing information which are provided by various sources. Such as wholesale auctions, independent dealers, manufacturers, and financials institutions as well. When KBB determines the value by looking at the proprietary editorial process.

There are various values which are put on the several scales. Based on that scales, KBB creates the a unique price. The sources of the scales are taken from the economic conditions, historical trends, time of year, and industry development.

After that, the results are; value of private party – it is about how much that you get from a private sellers, trade in value – the amount which you get from the dealers for trade in, suggested retail value – the specific used cars which are usually asked by the dealers, and CPO (certified pre owned) value – this will determine on the worth which are covered by CPO program.

Is there any issue with the pricing?

There must be some factors which can affect the value accuracy in Kelley Blue Book. Such as Lag, Mismatched data, and consumer bias. In the Lag issue, we may have already known that gaining a data or analysis always takes time.

So, there is a possibility that the prices which are offered do not reflect the latest economic conditions. In the consumer bias issue, you may get a car which has different condition with the description which is written. In the mismatched data, there are so many dealers which don’t use the KBB for determining the trade-in values.

So, is there any solution?

If you want to purchase a used car by looking at the KBB data, you have to know some important things. Here, there is a general guide which you can follow to get the best used car. First, you have to print out the definitions. You can use the KBB data when you are negotiating with a private seller.

If you think that the price is too high, you can show the KBB data to the seller. If you haven’t known about this, the value in KBB tends to give advantage to the dealers. So, you have to start with the retail price which has been listed to bargain the price.

Besides, it is better for you to ask for other sources. Yep, sometimes the guides of insider tend to give a lower wholesale price than in the Kbb Used Car Value. So, you have to ask about the sources which have been taken. In addition, consulting with other websites is also a good idea. When you have a lot of information, you will have more guides.

 

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