Black Book, on the other hand, is focused on retailers in the marketplace. Understand the market value of their car as a base point from which to formulate a fair and competitive price for their car.
As we touched on in the introduction, KBB helps First of all, KBB is focused much more on the consumer level of the market. How is Black Book Different from Blue Book?ĭespite the similar names, the Kelley Blue Book and Black Book are very different in terms of their usage and the type of information they provide. In essence, it’s an indispensable tool for those in automotive sales and marketing, providing the key base figures they need to formulate strategies for the coming year in vehicle sales. Offers not only valuations, but a host of other services to those working within the automotive sales industry, including (but not limited to): trade appraisals, market research and data, depreciation trends, risk assessment, residual forecasting and more. This model is quite different from some other popular valuation platforms like KBB, but we’ll cover those differences in more detail in the next section of the blog. You have to subscribe to gain access to its data. Using this information, a dealer is able to determine a retail price on a used car that will guarantee a profit, or perhaps to set the right cost price to attract customers that they can then augment with profit-making extras like accessories, financing and more.īlack Book prices are not readily available for anyone to simply look up. It is focused on providing the wholesale and auction value of cars to dealerships. Put simply, the Black Book value is a valuation of a vehicle according to the organization Black Book based on its own data. We’re taking a close look at Black Book car values, what they mean, who they serve and what the essential differences are between it and the likes of KBB.
Besides their age, the two have other important distinctions that many don’t realize. KBB is the “senior” of the two in age, being founded back in 1918 compared to 1955 for Black Book. This comes in the form of many popular publications and listings, including the Kelley Blue Book (KBB), but also Black Book. The way around this problem is for both buyers and sellers to have a common reference that offers a standard price. As a buyer it’s hard to know if the car you’re looking at is really priced fairly as a seller it’s hard to know if you’re low-balling your car or pricing yourself out of the market. When you’re either buying or selling a used car, determining an appropriate price is a frequent stumbling block that people come across.
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