Getting a Used Car Trade-In Value from Black Book®
Appraising your used car's trade-in value isn't an exact science. Trade-in values will vary between regions, times of the month - even between dealerships. For example, the used car manager at a Mercedes-Benz dealership may give you less on your used Kia than the used car manager at the Kia dealership, because it'll be harder for him to sell.
Using Black Book® to Appraise Your Used Car
Knowing your trade-in's value before you visit your new car dealer is essential. If you don't know how the industry appraises cars, you won't be able to effectively negotiate your current car's appraisal value. So use the Black Book®Appraisal form and be sure you're totally honest when indicating the condition of your trade-in. You'll get a fair estimate of your used car's value that you'll be able to take to the dealer.
Note: The price range shown on your final Black Book® Appraisal form is a guideline. The dealer will confirm a final price for your car based on their analysis of market trends and vehicle condition.
Black Book® vs. Kelley Blue Book®
Both Kelley Blue Book® and Black Book® gather thousands of data points from auctions, banks and leasing companies all over the country. Black Book® updates its online information daily while Kelley Blue Book® or KBB, updates its information weekly.
Traditionally dealers have relied upon Black Book® for determining how much they should pay for trade-ins. If you plan to sell your car yourself, you'll want to also research the Kelley Blue Book® Private Party value, which is typically higher than trade-in value.
Ultimately, whether it's Black Book® or Kelley Blue Book® used car values, your trade-in value is dependent on several factors including make, model, year, condition, accessories and mileage.