They also offer a consumer website that establishes transparency of the industry. Power Valuation Services) began in 1933 and has since been an industry leader in supplying LOAN and TRADE-IN values (among others) to dealers across the country. Coupling the strong consumer presence of KBB’s data with a wholesale value, such as Black Book for example, is a recipe for a dependable vehicle appraisal.įinally, NADA (J.D. In many cases, in order for these institutions to even begin the loan process, they must have a document showing KBB’s WHOLESALE LENDING and RETAIL values. On the West Coast, many financial institutions use Kelley Blue Book’s WHOLESALE LENDING value as the standard of what to loan on a particular vehicle. For that reason, it would be wise for a dealership to at least consider KBB’s RETAIL, TRADE-IN, and FAIR PURCHASE PRICE values on each vehicle they appraise. Kelley Blue Book was founded in 1926 and is the most recognizable guide to consumers and car buyers. However, when dealers are purchasing vehicles at auction (for inventory), Black Book’s WHOLESALE data is second-to-none. For that reason, car buyers are not typically familiar with Black Book values and they may not trust a Black Book driven appraisal at a dealership. ![]() A leading provider since 1955, Black Book has continuously evolved to ensure that it achieves its goal of delivering mission-critical information to its customers, along with the data analytics necessary to successfully buy, sell, and lend.”īlack Book is exclusively geared towards dealers, wholesale buyers, and lenders, whether it is by website, smartphone application, or 3 rd party integrations. Most dealers choose more than one guide book when appraising in order to make the most informed decision for their investments.Īccording to its website, “Black Book® is best known in the automotive industry for providing timely, independent, and accurate vehicle pricing information, and is available to industry-qualified users through online subscription products, mobile applications, and licensing agreements. ![]() Kelley Blue Book is heavily used on the West Coast, Black Book in the Southeast, and NADA is more widespread nationally due to its heavy dependency from financial institutions in regards to loan originations. except your misconceptions about the value of yourvehicle.Ask any used car dealer what the most accurate guide book is and you will likely get very different answers depending on what part of the country you are located in. The people at Canadian Black Book are as plugged in as anyone, and they have the most reliable, up-to-the-minute data available.īest of all, it’s free! So if you’re considering selling your vehicle, get your Black Book value first. The market is always changing, so it’s great to have an unbiased third-party do your work for you. Whether you’re a first-time car seller or a seasoned vet, Canadian Black Book is incredibly valuable. You’ll know what you can realistically expect: you won’t over charge and wastetime suckering someone into a bad deal, and you won’t under change and leave thousands of dollars on the table. Knowing your black book value helps you avoid a pressure sale and animpulse buy. Why risk that kind of regret-caused by a cheap sale-when you can get all the facts beforehand and maximize your return? You’ve probably heard of buyer’s remorse, but seller’s remorse is equally destructive.
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