Knowing the actual value of a car is very important, whether you are buying a car or selling one. You do not want to pay too much for a vehicle, and you certainly do not want to sell an automobile for less than it is worth. Avoid these situations by knowing the Blue Book value of the car in question.

What Is the Blue Book?

The terms "blue book" and "Blue Book value" refer to the Kelly Blue Book. Les Kelly first published this book in 1918 as a list of the prices he was willing to pay for specific cars. In 1926 the Blue Book was created as a trade publication for businesses dealing with automobiles. The Blue Book was first sold to consumers in 1993 and soon after became the country's best-selling automotive book. It is still available today and is used by individuals and businesses. In 1995, the Kelly Blue Book was put online at kbb.com and is the fastest way for you to get the Blue Book value of a car.

New or Used Car

There are certain details you need to know to get the Blue Book value of a car. Car values differ, whether you are buying a new or used car from a dealership, trading in a used car to a dealership or selling a used car yourself. The first thing you notice on the Kelly Blue Book web page is the choices of "New Cars" and "Used Cars," along with several options under each. If you are buying a new car from a dealership, obviously you should choose "New" to get the Blue Book value of a new car. You will need to know the make and model of the car you want, such as Ford Mustang, Chevrolet Malibu and so on. You can also find the Blue Book value of a new car by choosing a category, such as Sedan, Luxury or Hybrid (and others) and inserting your ZIP code (or the ZIP code where you plan to buy the new car) to get details specific to your location. Use this type of search if you are not sure what car you want but would like to compare prices of certain categories. Choose any car that you are interested in, and you will be able to get the Blue Book value of it. New car prices include the MSR (manufacturer's suggested retail) price, invoice (what the dealer paid) and Blue Book prices (what most consumers will pay). Check under "Used" to get the Blue Book value of a used car. The process is the same as for new cars, with a few more details required. You will need to know the ZIP code, make and model, the year of the car, mileage and category. After you fill in this basic information, choose whether it is a trade in, private party, retail (purchased from a dealer) or certified pre-owned (sold by a dealer). Other details required include the condition of the car, which is explained on the Kelly Blue Book website. Choose the condition to get an accurate value.

Source:

Kelly Blue Book