Three popular on-line sources for used car bluebook values are Kelly, Edmunds and NADA (North American Dealer Association). Auto dealerships and consumers use these on-line sources to find used car values. The various value requirements that maybe available include:
- certified pre-owned
- retail
- private party
- trade-in
Within each value category there is usually separate values based on the condition of the vehicle. For example a specific category may be separated by poor, fair, good or excellent condition.
However not all of the above categories are available from each of the three blue book companies. It’s important to note that the actual appraisal values can also differ from one bluebook to the next within the same value category. This article looks at the various value categories that can help the reader make an informed decision when buying or selling a used vehicle.
Factory Certified Pre-Owned Appraisal Value
This value category is used for new car dealers for pricing certified pre-owned cars and trucks. Since certified used cars offer more benefits than non-certified used cars, this category has the highest pricing value. If a consumer is looking to buy a certified used vehicle, they should use this category for a specific model before visiting a dealership.
Retail Bluebook Appraisal Value
Car dealers generally use the retail bluebook value for pricing vehicles that are sold to retail consumers. When a dealer advertises a discount on a used car from the retail price, they are generally referring to a discount from the bluebook retail price. If a consumer is looking to buy a used vehicle from a dealer, they can use this category to ensure a fair and equitable price.
Private Party Bluebook Pricing Category
The private party value category is for individuals that are selling or buying a used vehicle from another individual. Before an individual lists a car for sale, they should use this pricing category to get a general idea of the listing price. Likewise if an individual is buying a vehicle from an individual, they can use this category to ensure they’re paying a fair and equitable price.
Trade-In Bluebook Value
Dealers that are appraising a used vehicle they are purchasing to resell use the bluebook trade-in value. If a consumer is trading-in their old vehicle to use as a down payment, the trade-in value is generally what the dealer will use as a guide. Some car dealers may use the trade-in value as a means to make a higher profit and give a lower than book price.
To ensure that the dealer is giving a fair and equitable price on a trade, the car owner should ask the dealer what bluebook they use. Once the type of book is determined, the car owner could double check to ensure they are getting a fair price. If the trade-in value is less than the outstanding loan balance, the car owner may have to pay the difference.
When purchasing a used vehicle, finding the bluebook value helps to ensure that the purchase price is fair and equitable. If selling a used car, the bluebook price helps to establish a fair selling price. If a car is traded in for a down payment, the book value helps to ensure the car owner is receiving a fair price for the trade-in.
James Clausen - Clausen received a Bachelors Degree in Business Administration in Automotive Management and Marketing at Northwood University, graduating ...
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