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You’re ready to move on to bigger and better things—a newer car, specifically! Before you buy your new car, you need to trade in your current vehicle. You may be wondering how dealerships value your trade-in, and at Land Rover Colorado Springs, our finance center team has the answer.
Learn more about the tools dealerships use to estimate the value of any vehicle they buy. We invite our Colorado Springs, Cimmaron Hills, Fort Carson, and Canon City, CO, readers to reach out to us with any questions!
As a consumer, you’re probably familiar with the Kelley Blue Book®. Maybe you’ve used it to check the value of your vehicle once or twice before you’ve sold a car. You may be wondering if dealerships use the same resource to value your trade-in—typically, this is not the case.
Yes, the Kelley Blue Book® offers reasonable estimates for used vehicles, but it’s considered somewhat less accurate in its pricing information. Dealerships tend to use the Black Book to figure out how much a trade-in vehicle is worth.
You may not have heard of the Black Book before. That’s understandable. It requires a paid subscription to use, and you probably have no desire to pay a monthly price to see a single estimate for your vehicle! For dealerships that buy cars every day, that subscription is a much better investment.
The Black Book originally began in 1955—more recently than the Kelley Blue Book®, but still well-established as a resource in its own right. Back then, it was literally a “black book” containing weekly car values for every vehicle in every region in the country. Today, the “book” is available online.
The Black Book is considered more reliable than the Kelley Blue Book® because it offers more up-to-date car sales and wholesale pricing values. For that reason, it’s more useful to dealerships.
If you’re interested in trading in your vehicle, you can receive an estimate directly from us based on the resources we use for trade-in valuation! Just complete and submit our Value Your Trade form online, and we’ll provide a preliminary estimate for your vehicle.
Keep in mind that every estimate is contingent on an in-person inspection by our certified technicians. Still, when you provide the year, make, model, mileage, and photos of your vehicle, we’ll be able to offer a more accurate estimate of your vehicle’s worth.
Remember, there are plenty of independent resources you can look to for your vehicle’s trade-in value. You can always compare the estimate we offer with estimates from these resources:
If you’re ready to value your trade, our team at Land Rover Colorado Springs will help provide your estimate! Feel free to fill out our form online or reach out to us. We’re happy to have a conversation over the phone or in person.
Value your trade-in near Colorado Springs, Cimarron Hills, Fort Carson, or Canon City, Colorado, today!