Just about anybody who drives around on a set of four wheels in Phoenix should be asking this question: What is the blue book value of my car? After all, at some point, you may want to sell that same vehicle. At that particular time, you ought to know the vehicle’s market value.
Once you have sold a car, truck or SUV, you may decide to shop for another set of wheels. At that point, you can make your task easier by consulting the Kelly Blue Book. Furthermore, you should consult that Book, if you plan on asking the bank to lend some money, and to accept your car’s title as collateral.
Finally, you can expect mention of your car’s blue book value, if that same vehicle is involved in a traffic accident. If you have been hit by a second driver, your car’s value will determine how much you can ask, in terms of compensation. No court will agree to demand a sum that exceeds the vehicle’s worth.
The blue book/market value is based on the vehicle’s make, model, age, mileage, condition, and the location in which it will be sold. Other factors that are considered at the time of the value’s determination are the equipment information, the size of the engine and whether or not the driver relies on standard or automatic transmission. Private party values indicate the amount to be expected if the car is sold by the owner.
Of course, not every automobile is sold by a private party. Many cars are sold by dealers in the Phoenix area. That fact explains the existence of Trade-In values. Such figures reveal what a consumer can expect a dealership to pay, if he or she wants to trade-in an older model and get a new one.
Keep in mind that the figures printed in a Kelly Blue Book have not been “written in stone.” In other words, there is almost always a way to negotiate a higher or lower price. Someone who is trading-in an older model might seek to have it valued as being worth more than the amount originally stated. In that way, he or she can expect to pay a bit less for a new model.