The fast answer is no, not really! Why? Because it is exactly what it says – it’s a price guide, not a guarantee or more importantly a cash offer! Vehicle valuation guidebooks have evolved into internet conglomerations. Kelley Blue Book is a digital marketing powerhouse with over 20+ million visits per month to their website. YES !!! KBB provides vehicle values to consumers, but consider their audience… who do they derive revenue from if the consumer pays nothing for the value that they get for the vehicle? My grandfather used to say all the time “Michael when somebody gives you advice for free what is it worth?” The short answer is zero! Now if you had paid Kelley Blue Book for a vehicle price analysis specific to your make and model vehicle, which takes into account; history, condition, configuration and every potential factor that impacts the price of that vehicle in the geography in which is located - then for sure that information would be worth something. But what does that even do for your bottom line? You probably want to sell your vehicle and get the most you can for it, right? A suggestion about what to ask, doesn’t make somebody break out their check book and pay you what KBB says is optimal. If you have a really-nice, well cared for, one-owner, accident-free vehicle that has all the right equipment – somebody will pay you top dollar for your car.
Kelley Blue Book gives you a range that your vehicle may be worth which is dependent upon the accuracy of information that you provide. Because of this and many other unknowns, nobody is going to just roll up and pay you Kelley Blue Book for your vehicle. They want to know the history - that costs money ($44.99 for a CarFax). Because somebody must purchase the CarFax and the Experian Autocheck.
Here’s what the CarFax Reveals:
- Accidents (plus severity and point of impact)
- # of owners
- Title Pedigree – proof of ownership with no encumbrances
- Maintenance performed (or not which hurts value)
- Title Brands
- Geographic location
- Mileage progression (does it marry up)
- Configuration (Trim level/engine/drive system)
- Recalls (Performed & Open)
They want to see the maintenance and if it’s not clearly listed on the vehicle history report they want to see the receipts. Cosmetic condition is evidenced with the physical eye, but the mechanical health of your vehicle must be validated by somebody with that level of experience. Plus, don’t forget how your vehicle is configured is a huge deal! If you have a loaded Mercedes-Benz without a sunroof, you have a car very few people want because most Mercedes Benzes are loaded. Nobody will want to buy your car for book value - especially a luxury vehicle without a sunroof so configuration is 100% critical. Guidebooks typically add and deduct for missing equipment and those modest adjustments are rarely even close to accurate in the real world. We can show you examples of loaded Ford Expeditions without a sunroof or rear entertainment system that sit and never get sold because nobody will buy them. Why? Because people are not willing to pay for something that is a compromise. Unless it’s cheap!
Another factor is color. No guide book on this planet deducts enough for a brown car! Color can absolutely KILL the value of a vehicle and it does every day!
Another consideration with all these online guidebook sources is that they are beholden to the people that advertise on their site. So, if you’re a consumer and you’re not paying the website for evaluation on your vehicle, who’s paying for that website to exist? The answer is… automobile dealers! They pay big money for leads – your information & vehicle data which is an opportunity to buy and sell a vehicle. Next are vehicle manufacturers that advertise on the guidebook sites and other providers that want you to finance with their bank or buy their extended warranty products, etc. KBB, and it’s competitors get paid handsomely for your information. You are the “currency” of their digital domain! If you think there might be some “editorial opinion” influencing the values that KBB projects to the public, you might be right!
If you’re looking for a legit value on your car, go to a site that pays what they project. CarBuyerUSA.com does that and you don’t have to spend half an hour describing the car. We don’t ask for your email, phone number, license plate # or personal information. We don’t even ask for the vehicle identification number…you just enter the year make model miles and trim and you get a price in under 20 seconds. If you like the price, opt-in and let’s do business! If you don’t, keep shopping but make sure you bookmark our site because you will be back – our offers are very competitive.
For more information about guidebook evaluations or any other factors that have an impact on resale please contact us or call (678) 635-2050.
