What Do You Mean “Blue Book Value”?

While shopping around for a used car in Bradenton, FL you’ve probably heard the term “Blue Book Value” thrown around. This refers to the Kelley Blue Book, which is generally acknowledged as a reliable standard for determining what a used car is worth. The Blue Book lists a value depending on all the different features of a car like the year, make, model, trim level, and condition. Oftentimes a dealership or a seller will list a car as “below Blue Book” value, meaning they are offering it to you at a deal. While the price may be from the Blue Book, it’s usually the highest possible estimate for a mint condition car, and most used cars won’t field that kind of price. So how do you use the Blue Book value to help when you’re shopping for a used car?

What Good Does The Blue Book Value Do For Me?

As mentioned before, many people selling a car, both dealers, and independent sellers are overly optimistic about the condition of their car. The Blue Book’s highest condition rating is “Excellent” and less than 5% of used cars are actually in a condition that merits that price point. Knowing what the actual price range for varying levels of condition will give you leverage when assessing a car and how much it is actually worth.

Additionally, it’s useful to be aware that prices vary by location and how the car is being sold. Some vehicles are more in demand in specific places. It’s also worth considering the less concrete estimates of vehicle value like consumer reports and ratings, both professional reviews and actual owner reviews. These can give you a better idea of the actual lifespan and behavior of a specific model beyond the Blue Book’s cost based assessment. The best way to figure out is to compare vehicles listed on KBB and in your local paper.

If you’re looking for a car in the Tampa area, check out our Cox Chevy in Bradenton, FL. We’ve got a great selection of pre-owned cars on our lot and there are always new choices coming in that our knowledgeable sales personnel will be happy to tell you all about.