Tony Sanchez, with Jerry Seiner Dealerships, gives tips on how to navigate the process.
Who wouldn’t trust the Kelley blue book advice when it comes time to purchase a new or used car? They have a great guideline for people looking to buy or sell a car for many years.
According to Wikipedia, Kelley Blue Book was founded in 1918 in Los Angeles by Les Kelley. Kelley started his dealership with three model T’s and the help of his 13 year old brother. He stocked his dealership by circulating a list of cars he wanted to purchase and the most he was willing to pay for them. These lists soon became a sold market value source used by banks and car dealerships alike.
The Kelley Blue Book tells you how much your car is worth and it will give you the reasons why.
For example, the vehicle identification (VIN) number helps determine the vehicle type, size of engine, if the vehicle is front wheel drive or rear wheel drive, if the vehicle is automatic transmission or manual transmission or if you have a choice.
Next, it shows vehicle equipment. The value of a vehicle will increased based on the extra equipment or options the vehicle has.
Mileage adjustment shown in the book will increase or decrease value based on mileage which is calculated at 15,000 miles per year.
The wholesale or low Kelley Blue Book figures determine a wholesale or low book value used as a guide to help determine the vehicle’s value. If you’re selling or buying your own car, these figures help you as well.
The retail or high Kelley Blue book figures determine a retail or high book value, used as a guide to determine what the vehicle can be sold for.
For more information on the Kelley Blue Book, get in touch with one of your Jerry Seiner Dealership team members by going to www.gmguy.com
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