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Kelley Blue Book - A Trusted Vehicle Information Resource |
He started distributing a want list to car dealers and banks. The list consisted of types of automobiles that he was interested in buying, along with the amount that he was willing to pay for each. As a whole, the automotive community felt that Kelleys judgment was such an accurate reflection of values that they began to request the list for their own individual use. Kelley realized that the list could provide an ongoing business opportunity and so the Kelley Blue Book was born.
First published as the Blue Book of Motor Car Values, the new guide featured the factory list price and cash value on thousands of vehicles from Cadillacs to Duesenbergs. Everyone began to recognize the value of this handy guide, including the banking and insurance industries.
After World War II, even the United States government accepted the values as fact and used the book to place a ceiling on car prices.
Kelley Blue Book maintained the status of a trade publication until 1993 when a consumer edition of the book was offered. Then in 1995, the Blue Book website was launched, fueling the biggest growth in the guides history.
Today, Kelley Blue Book values are easily accessible by consumers and industry professionals alike.
To get their values, Blue Book receives information from automobile manufacturers, wholesale automobile auctions, independent auto dealers, franchised auto dealers, rental and fleet companies, original equipment manufacturers (OEMs), financial institutions, and private party transactions. The final value is then determined by a proprietary editorial process. The collected data is analyzed, along with information like historical trends, industry developments, current economic conditions, seasonality, and location. The end results reflect the most up to date values.
There are several different values that are available through Kelley Blue Book. They include:
New Car Blue Book Values- The New Car Blue Book Value reflects a vehicles actual selling price. This value is based on sales transactions from auto dealers across the United States.
Private Party Value- This value reflects what a consumer might expect to pay if they are purchasing a vehicle from a private party or what a seller might expect to receive from the sale of the vehicle.
Trade-In Value- This value reflects what a consumer might receive from an auto dealer when trading in a vehicle.
Suggested Retail Value (MSRP for Used Cars)- This value reflects the amount that an auto dealer might ask from consumers at an actual dealership. This value is meant to show the starting point for negotiation, similar to a new sticker price.
Since 1926, people have relied on Kelley Blue Book to provide authoritative and unbiased information in regards to vehicle values.
Nearly one out of every four people who buy a new or used vehicle in the United States visits the Kelly Blue Book website, making it the number one automotive site in the nation
Article written by Adam Bell (the best information)
This entry was posted on Friday, April 27th, 2007 and is filed under Buying A Used Car. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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