Black Book vs. Blue Book – What’s the Difference?
Most Bayside drivers are familiar with Kelley Blue Book, but perhaps haven’t even heard of Black Book, which also evaluates cars. They use different means to determine retail and trade-in value, meaning they often come up with different results. What is the Black Book value of cars based on? Several factors. Let’s take a closer look.
What is Black Book Value Based On?
Black Book is considered by the industry to be more accurate at valuing cars than Kelley Blue Book. What is the Black Book value of a car based on? It tends to be very precise and is based on multiple factors, including:
- History Adjusted Valuations
- Condition of the vehicle
- Finance Advance™ value
- Mileage
- Optional equipment
- Region or state
Black Book vs. Blue Book – The Differences
There are a number of differences between Kelley Blue Book and Black Book. Here are some of them:
- Black Book is used by dealers, while Kelley Blue Book is mostly used by consumers.
- Black Book is considered more accurate in its valuations than Kelley Blue Book.
- Kelley Blue Book has been around longer than Black Book.
- Kelley Blue Book is more popular than Black Book.
- KBB’s ratings are poor, fair, good, and excellent, while Black Book uses extra clean, clean, average, and rough.
- Kelley Blue Book is free to use, while Black Book requires a paid subscription.
- KBB valuates cars based on vehicle auctions, which inflate values, while Black Book uses history-adjusted valuations and several other factors, which are considered more accurate.
What is the Trade-In Value Meaning?
Some Roslyn drivers get confused as to why “trade-in price” is often different from a private sale price. Both Kelley Blue Book and Black Book will list a trade-in value, meaning the average value a dealer will offer you for your trade-in. In other words, if your car’s trade-in value is $5,000 and you are buying a new car priced at $30,000, the dealer will subtract your car’s trade-in value so that your price for the new car is $25,000.
North Bay Cadillac is Here to Help!
If you’re looking to trade in your car for a new one, you can count on getting a fair price from us. We’ll buy your car even if you have a pay off. So, come down and let us help you get behind the wheel of your next car. We’re just down the road from Manhasset. So, drop by or contact us today!
Get and Offer for Your CarNorth Bay Cadillac
720 NORTHERN BLVD, GREAT NECK, NY 11021
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