Kelley Blue Book
There are different tools to determine the value of your car. Modern tools are the Blue Book, like the Kelley’s Blue Book, which are buyer driven. This means that buyers or sellers can see what they can expect to pay or receive for a car of a certain age, make or model. Blue Book evaluations have been around 1918.
The Black Book was established in 1955 by three businessmen in Gainesville, Georgia. After attending a number of auctions, the three businessmen started keeping track of the auction values of the cars, namely the auction results. Shortly after, other parties become interested in their data. This allowed everyone to estimate the auction value of a car. Now a Black Book value is pretty much dealer driven, and has the best wholesale car evaluations.
Take this as the base price for your evaluation. The factors to take into account besides make, model and year the car are the car’s general condition, options and mileage. At auction, the price of a car is determined based on its condition, which can be average, above or below average.
These are the general parameters based on which a wholesale value of a car is determined. Other than that, there are certain tools like the Kelley Blue Book you can use to estimate the wholesale value of your car. These estimates are fairly accurate and if you are interested in buying or selling a car, you know what your base price is.
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