What is Typical Dealer Asking Price?
The Kelley Blue Book® Typical Dealer Asking Price is representative of dealers’ asking prices. It assumes that the vehicle has been fully reconditioned and has a clean title history. This price also takes into account the dealer’s profit, costs for advertising, sales commissions and other costs of doing business. The final sale price will likely be less depending on the vehicle’s actual condition, popularity, type of warranty offered and local market conditions. In other words, it’s the price you should expect a dealer to ask for – not always the price you should pay.
What are Trade-in Values?
Trade-In Value is what you can expect to receive for your current car when trading it in at a dealer, assuming you’ve chosen the accurate condition(most people overestimate the condition of their car;as a reference, most of the cars we see are in “Good” Condition). The Trade-in Value presupposes that you’re buying another vehicle from the same dealership. The Trade-in Value will be less than the Private Party Value because the reselling dealer will need to pay to recondition the car, perform safety inspections and incur other costs of doing business.
What are Private Party Values?
Private Party Value is what a buyer can expect to pay when buying a used car directly from another individual not associated with a car dealership . It may also represent the value you might expect to receive when selling your own used car directly to someone else. The Private Party Value assumes the vehicle is sold “As Is” and carries no warranty (other than the continuing factory warranty, if any). The final sale price may vary depending on the vehicle’s actual condition and local market conditions. This value may also be used to derive the vehicle’s value for insurance and vehicle donation purposes.
What are Auction Values?
The Kelley Blue Book® Auction Value is Kelley Blue Book's estimate of what a vehicle is expected to sell for at a wholesale auction. It assumes the seller has properly disclosed the condition of the vehicle. It does not include buyer's fees or the buyer's transportation costs and assumes the vehicle has not yet been fully reconditioned, inspected, and prepared for retail sale.
What is the Typical Dealer Asking Price, Private Party and Trade-in Range?
The Range is an estimate of what you can reasonably expect for the value of the vehicle depending upon the transaction type and based on the kilometers and option you specify. Typical Dealer Asking Price Range will be a range of how much local dealers are listing a similar vehicle for sale. Private Party Range will be a range of what other private sellers are selling their vehicle for and how much you should expect when selling your vehicle independently. Trade-In Range is the range of how much you should expect for a vehicle when trading in at a dealer. It generally presumes that you will buy another car from the same dealer.