The Kelley Blue Book (KBB) value of a new or used vehicle is referred to as its “blue book value.”
To get an idea of what you might anticipate to pay for newer or dealer-purchased used vehicles, KBB provides an estimated pricing range.
Typically, private-party or privately-sold vehicles are appraised at a lower price point than those purchased from dealerships or auctions.
Based on parameters such as who is selling the automobile (private party vs. dealership), mileage, vehicle trim, and location, KBB values can reveal valuations.
Remember that KBB evaluates used automobiles according to how many miles they’ve been driven in comparison to other vehicles of the same make and model. Since KBB bases its value on overall mileage, a car with more than average mileage will likely have a lower value. KBB data is used by some banks and lenders to determine the worth of vehicles used in financing transactions. Alternately, other financial institutions might make advantage of NADA’s car-price data.