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Black Book provides the wholesale or auction value of your car, which is the amount a dealer might pay for it.
Black Book acquires their pricing data from wholesale auctions, and retail transactions nationwide.
Black Book updates their used car prices on a weekly basis.
Frequent updates allows for faster response to market fluctuations.
High mileage, vehicle damage, and the cost to recondition your car for resale all have an impact on the overall value of your car.
Kelly Blue Book (KBB) and the National Automobile Dealers Association (NADA) are two other popular providers of valuation information. While these valuation tools share commonalities with Black Book, there are a few differences among data sources between them, the frequency at which they compile data and the resulting values that they publish. It’s important to understand these differences as dealers may use more than one valuation source in formulating an offer for a potential trade-in.
NADAguides calculates used-car values by assessing wholesale and retail transactions, as well as asking price information from Autotrader, OEMs, wholesalers and retailers. It also considers the MSRP, invoice and economic factors in its calculations that they update on a monthly basis.
Kelley Blue Book also primarily utilizes asking price information in their weekly valuation processes. This pricing data comes from OEMs, wholesale auctions, dealerships, rental companies and financial institutions. Additionally, KBB considers vehicle configuration, incentive and production level data. It then determines used car values for specific situations, including a private sale value, a trade-in value and a suggested retail value.