Automotive

Try once and make the most of it?

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Blue Book Value



Here’s some news you can use! Undoubtedly, you’ve heard of the Kelly Blue Book?. If you’re shopping for a car, you may not be aware how helpful knowing the blue book value can be, and how many options you have in determining the value of any vehicle. Best of all, this information is available at no cost on the Kelley Blue Book? website.

At one time, the determination of blue book value addressed only used cars among dealerships. Today, you’ll find the blue book value of new and used cars, motorcycles, RVs, mobile homes and even snowmobiles.

Within this broad range of vehicle types, you’ll find the blue book value for a variety of buying and selling scenarios.

One of the books covers new car blue book values. This value is determined by compiling data showing the actual selling price in the most recent sales across the country. This value reflects an average of those sales prices.

Also among the series of books is the suggested retail blue book value. This is the fair market price a dealer should be asking for a used vehicle. Dealerships are expected to sell the vehicle at least up to minimum safety standards. This value represents a vehicle in excellent condition. With this information in hand, you’re in an excellent position to negotiate a fair price.

There is a private party blue book value, which calculates the value of a vehicle in a private party transaction. Because a private party transaction does not require the seller adhere to more stringent requirements placed on dealerships, such as a guarantee, the blue book value is lower than a dealership. It may be to your advantage to look for a well-kept vehicle in the private party market. You can always ask that your mechanic take a look before completing the purchase and be money ahead.

Another blue book value looks at the trade-in value. This is helpful to you, because an unscrupulous dealer cannot take advantage of you. Once he’s aware you know his game, it’s likely you’ll get a fair deal.

With the exception of the new car blue book, values given in all of the other books are calculated with a staggering array of criterion, enough to make an actuary swoon. This is one of the reasons the Kelly Blue Book? is the standard used by banks, dealers, auctioneers and just about anyone in the vehicle market.

The variables that factor into the blue book value determination include the current economic climate, historical trends, industry technology, location and season. Then, of course, every single piece of possible options and add-ons are thoroughly analyzed and worked into the formula.

There are so many obvious benefits to having this up-to-the-minute information when buying any vehicle, you’ll not want to leave home without a copy of the Kelly Blue Book? in hand. Knowing the blue book value can save you money by getting a fair deal and save time on negotiations.

By: Dominic Ferrara

How Dealers Assess Used Truck Value For Trade-Ins



If you are thinking of trading in your truck towards the purchase of a new one, it is important that you know how dealers assess used truck value. The salesperson at your dealership will do everything he or she can to ensure that the company gets the best deal possible; knowing the approximate worth of your truck can give you bargaining power and save you a significant amount of money. Let’s take a look at some of the factors that influence the value of your used truck.

1. Book Value: Dealers will typically follow wholesale pricing guidelines from indexes such as Nada or the Black Book to get an approximate idea of how much they should pay for your vehicle based on the year, make and model. You can find out ahead of time how much a similar make, model and year of truck is worth by checking the online pricing guides yourself before you talk to a dealer.

2. Maintenance Record: If you have kept up with all scheduled maintenance and taken care of necessary repairs, your vehicle will be worth more than if you neglected to change the oil or take care of minor repair problems. Make sure that you can document all maintenance and repairs that have been performed on your truck.

3. Mechanical Issues: If your car does not run, or if it is in need of major repairs before it can be sold, your vehicle is not likely to command top dollar. However, it is probably not a good idea to have this work done yourself if you intend to trade in the vehicle – the repairs are likely to cost you more than it is worth.

4. Condition of the Vehicle: While a few dents and scratches in the paint job will not prevent a dealer from purchasing your vehicle, less work will be necessary to get it ready for sale if it looks clean, well-maintained, and free from major body flaws.

5. Availability: The price you will get for your vehicle depends on how many similar vehicles the dealer already has. If he has twenty trucks of the same make and model on the lot already, he or she is unlikely to offer top dollar for your trade-in.

Before you head to the dealership with your used truck, make sure that it is clean, both inside and out, and remove any personal items. Do your homework – find out the average wholesale used truck value for your particular vehicle, and remember this figure when you are negotiating with the salespeople. Remember, you do not have to accept the first offer you are given; shop around and get at least two or three offers before you make a final decision.

By: Alston Donald Ke