WHY KELLEY BLUE BOOK IS NOT ALWAYS AN ACCURATE WAY TO DETERMINE CAR VALUE
Determining the value of your car is the most important step in the preparation process when selling your vehicle. Most people automatically fall on the Kelley Blue Book value, because they have been conditioned by car dealerships to believe that the Kelley Blue Book value is set in stone. People are unaware that car dealership Kelley Blue Book values have different prices (often undervalued) than the over popular website KBB.com.
The reality is that 90% of vehicles sold today are way below the KBB inflated value or sold way under (especially the trade in value offered by the blue book)
There are factors involved when selling your car that Kelley Blue Book just does not calculate, and because KBB now offers to purchase your vehicle, cannot take into consideration.
SUPPLY & DEMAND
A Dodge Ram 2500 Quad Cab pick up truck is a very sought after truck for some people. In South Carolina where the vehicle is in high demand, it gets a higher asking value than in New York City where parking for such a vehicle is a nightmare and most garages won’t even take a vehicle of this size. On the other hand, a Toyota Prius is in high demand in the congested cities of the Northeast, but interest in it is almost lacking in North Carolina. Yet KBB gives the same price for both cars to both residents in NYC and SC despite the site asking for a zip code to determine recent sales in your area but in reality they are trying to pair you up with a affiliate car buying company in your area!
I noticed on a local online classifieds site that someone was advertising a Dodge Intrepid SE with only 76,000 miles for a really good price, almost $500 under the Kelley Blue Book value, yet day after day, no one will buy this car.
Why, because this year Dodge Intrepid is notorious for having transmission problems or that it has a 2.7 Liter Engine, one of the most expensive and difficult engines to repair if something was to go wrong (and something usually does go wrong with the 2.7 Engine).
I recently priced a used 2.7 engine for an Intrepid at a junk yard for $1,700 with 90,000 miles. Mind you, this is a special dealer price. A consumer off the street would pay much more than this. Needless to say I did not purchase the engine and scraped the car for it’s metal.
Kelley Blue Book Values can’t give you this kind of information, and they don’t take these conditions into account.
There is no one book or website that tells you the value of your home, there are many factors involved when selling a home; location, condition, size, functionality, local similar house sales, etc. So many in fact, that there are appraisers that calculate all these factors. Cars are similar, but people often don’t get appraisers for them.
It does not matter what the Kelley Blue Book Value Is if nobody is willing to pay that amount, as in the case of the Intrepid, then the car is not worth that price, but Kelley won’t tell you that.
KBB NOW OFFERS TO PURCHASE YOUR VEHICLE
Day in and day out people call us to sell their cars and mention the Kelley Blue Book Value,
They tell us the “Private Party Value” and how they will settle for that price. We then explain that we are a professional company and that we do not pay private party prices in most cases and they would have to check the trade in value. When they see the trade in value nearly 60% less then the private party they are shocked. More times then not we pay more then the trade in value because with KBB they are way below market price because their service now offers to purchase your car. I believe in court they call that conflict of interest lol
They are giving their customers a honest valuation but yet are pushing their car buying service. In my professional opinion the trade in values in most cases are inaccurate and to make matters worst we have heard from numerous clients once a representative shows up they begin to knock the vehicle and shoot even lower.
A few key factors to keep in mind when trying to figure out the value of your car are as follows:
Even though the vehicle is considered used, the car must be able to start, run and drive without any noises, vibrations or odors that are out of the ordinary or unexpected.
Overall Exterior Condition
Too many dings or dents, paint chips and fading, major accidents (not repaired), previously repaired accidents, rust on the frame or any portion of the body.
The person who purchases this car must sit in it day after day, so they will be looking for things that can be annoying or irritating after a while such as, torn seats or components, unusual smells, pet hair, stains, ripped or torn car mats, falling headliner, cigarette burns, and so on.
The lights on the dash such as Check Engine, Transmission, ABS, Brake, Airbag (etc)
A good way to determine how in demand your vehicle is to just notice how often you see similar vehicles, do you normally pass your make and model vehicle when going to the mall or work?
The more often you see your vehicle the more in demand your car is in your area, if you drive something that is rare and hardly ever seen driving you may have a harder time selling it, or may have to settle for a price reduction.
Above all else, trust the professionals, they have been appraising vehicles for a long time, and they do it on a daily basis, not once a year.
WHAT WE DO:
We come to you, cash on the spot, same day service, free towing.We pay more for newer better condition vehicles!Junk your older non running vehicle in any condition.We pay top cash for Hondas, Toyota and Lexus SUVS.We Buy older Porsches, Mercedes-Benz, Ferraris, Lamborghini and other classic vehicles. Anywhere in the US.
SAME DAY CASH!
Want to sell your car today, for fast cash, even if your auto is damaged, Hit, Wrecked not running, has minor or extensive mechanical needs? We offer cash and same day service FOR ANY CAR IN ANY CONDITION GUARANTEED!!!
TOP DOLLAR PAID!
We will Pay The Most Money And As Always Provide A Free Tow With Our Exceptional And Fast Same Day Service. No matter what the condition of your vehicle (even junk cars), we pay the highest price of anyone around.
Visit us online at www.JerseyCash4Cars.com or call (201) 893-3563 MON-SAT 9am-7pm