Note that the Kelley Blue Book price is not the same as the dealer asking price. What if the vehicle you’re in the market for doesn’t have a Kelley Blue Book price when you do the lookup? Here’s what Kelley Blue Book says: “Since the Fair Purchase Price is based on actual transactions, some vehicles are too new to establish a history, others have low current dealer inventory, and still others have low sales volume overall.” KBB promises to publish a Fair Purchase Price as soon as there are enough actual transactions for the calculation.
After inputting all the data, the site returns the estimated fair purchase price – the price that dealers have actually been selling the vehicle for in the area. You find the Kelley Blue Book price by going to their website, and plugging in the year, make, model and other details of the vehicle you’re looking to buy, such as engine, transmission, features and options. This price is based on actual new-car transactions and adjusted regularly as market conditions change.” But what, exactly, is the Kelley Blue Book price?Īccording to Kelley Blue Book, for new vehicles, this is the Kelley Blue Book Fair Purchase Price, which is “the price people are typically paying a dealer for a new car.
The Kelley Blue Book price is one method consumers can use to determine a fair purchase price. You want to get it for the best price possible, but how do you do that?
Buying a vehicle can be a complicated and involved process, not the least of which is making sure that you don’t pay more for the vehicle than necessary.
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