You can also visit the Folsom Auto Mall for a fast, free, fair appraisal from our experts at our eight dealership locations. NADA Guides,, JD Power and Consumer Reports are also trusted sources for this kind of research. In addition to Kelley Blue Book (and kbb.com), several other resources are worth consulting to determine a vehicle’s value. The theory of supply and demand is still alive and well. If a vehicle is rare, its value will increase. Maybe it’s their dream vehicle maybe it has sentimental value. While these values are a good and fair starting point, at the end of the day - a vehicle is worth whatever someone is willing to pay for it. The trade-in value is usually lower, too, because a dealer is looking to make a profit when they re-sell the vehicle. Dealership prices take into account the dealer’s overhead and cost to repair and refurbish a vehicle, whereas a private sale doesn’t include those extra expenses. Private sale, dealer sale and trade value are all different values for the same vehicle. Prices also vary depending on the transaction. Vehicles with a history of mechanical problems or recalls would also be valued for less. Fleet vehicles and rental cars might get lower prices because the market has so many of them. For example, when gas prices are high, the value of vehicles with good fuel efficiency will fetch higher prices. Those values vary based on a number of factors including mileage, equipment and condition - and values change often. Real world prices are evaluated every day and, using an algorithm, along with historical trends, the current economy, time of year and geographic areas, values are determined. Vehicle values according to KBB (and other sources) are determined by aggregating the pricing from wholesale auctions, dealerships, rental fleets, auto manufacturers and private party transactions. According to kbb.com, within two years of its launch, it became the most visited automotive site on the Internet. KBB.com was launched in 1995 and included values, reviews, vehicle history reports and links to manufacturer websites. This is also when the first Consumer Edition of the Blue Book was published. In the 1980s and 90s, they began to use computers to track vehicle pricing and created an online presence for Kelley Blue Book. It boasts a legendary reputation and enough variety to attract a wide range of drivers. During this time, the Kelleys began to use mileage to help determine the car’s value and they added new car pricing to their list of publications. The Honda Civic is our highest-rated compact car. In the 1960s, the Kelleys shifted their focus to the Blue Book and sold off their dealerships. Eventually the Blue Book became a nationwide car value guide for dealerships. Soon, there were lines of cars at his dealership waiting for appraisals and the dealership expanded to become the largest used car dealership in the country. In 1926, he officially published his list in book form. He would send these lists to other dealers and banks people began to use these lists as real-time appraisals for an older car’s value. In the 1920’s, Kelley began printing and circulating a list of vehicles he wanted to buy and how much he was willing to pay for them. Les Kelley, the man behind the pricing guide, was a used car dealer in Los Angeles in 1918. Patrick received his bachelor’s degree in industrial engineering from Bradley University and is currently a guest lecturer at Northwood University.Ever wonder how Kelley Blue Book gets used car values and why we even trust those values to be the standard of the industry? The Folsom Auto Mall has those answers for you. He has seen firsthand an exciting new generation of tech savvy new and used car managers and owners who find that vAuto has the solutions and products that set them up for success, no matter the market. Patrick also served as a vAuto performance manager, building a solid understanding of customer needs and expectations. Before his dealership experience, he spent the first half of his career working with dealers across the country in several field offices for an OEM. Having previously managed day-to-day operations as a dealership general manager for ten years, Patrick knows firsthand the importance of having a vehicle management system that is built to optimize ROI and support the dealer’s strategy. Director of vAuto Strategic Planning for ProfitTime GPS, Provision, and Conquest, vAuto’s new and used vehicle management solutions. Patrick Janes brings more than 30 years of automotive industry knowledge to team vAuto.
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