Black Book also looks at a car’s average price from wholesale auctions. KBB uses reasonable expectations to determine a vehicle’s worth, but Black Book uses data from actual purchases.
Any new accident or service appointment will automatically flag the car for a review of its current Black Book value.īlack Book also relies on both current and projected market insights within the auto industry. Black Book says it also uses data from vehicle history reports, which include accident damage and routine service history. However, Black Book is a bit different from KBB because it uses VIN-specific appraisals. The site also examines regional factors and current market fluctuations.
Like KBB, Black Book looks at a vehicle’s age and condition to gauge its value. NBC News June 23, 2021īlack Book was founded nearly 40 years after Kelley Blue Book, its biggest rival. In the past year, used vehicle prices on average have climbed 30%, according to Black Book, which tracks car and truck data. KBB even offers pricing reports for other types of vehicles, such as motorcycles. Higher trims with more features will also have better resale values than their lower-level counterparts. The service also takes region-specific factors and the current national economic climate into account.Ī car’s condition, age, and mileage also contribute to its Blue Book value. KBB says it relies on industry trends, the latest field analysis findings, and analytics to determine vehicle values. Kelley Blue Book is the older of the two resources, so it’s the better-known choice. How does Kelley Blue Book determine a car’s value? Kelley Blue Book president Jared Rowe | Gina Ferazzi/Los Angeles Times via Getty Images Let’s break down the difference between these two car sales services. However, depending upon their needs, prospective buyers might be better off knowing a car’s Black Book value. KBB also offers in-depth reviews and comparisons to help shoppers narrow down which car is their perfect fit. Users can search the site for any car’s average asking price and estimated trade-in value. For nearly 100 years, the company has used extensive research to determine the value of any given vehicle. When searching for the best prices for used cars, many consumers turn to Kelley Blue Book.
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