Did you know that car dealers use either Black Book or Blue Book values to calculate how much a vehicle is worth? Depending on which is used, the trade-in value meaning could vary. If you’re wondering, “What is Black Book value? What is Blue Book value?” the finance experts at Spitzer Chrysler Dodge Jeep Ram Homestead will answer your questions, so you can better understand Black Book vs. Blue Book trade-in valuation.
Whether you’ve used our online trade-in calculator or traded in your car before, you’ve likely used a trade-in valuation provided by Kelley Blue Book. These valuations are known as “Blue Book” trade-in valuations. Because they are free, they are used by many drivers. It ranks cars into four categories: excellent, good, fair, and poor. That said, Blue Book valuation is sometimes on the higher end of what’s considered normal or fair, especially when buying a new vehicle.
Similarly, if you’re trying to value your trade-in near Princeton or Key Largo, you may not get as much as the Blue Book valuation suggests. This can be frustrating and misleading if you expect to get back more money than how much your car is worth.
Now that you know what Blue Book is, what is Black Book value then? Black Book trade-in valuation is more commonly used by car dealers, including us at Spitzer Chrysler Dodge Jeep Ram Homestead. That’s because Black Book values factor in more updated information about car transactions than Kelley Blue Book. In fact, Black Book updates the dealer invoice and MSRP of vehicles weekly, so there’s a higher chance that the valuation is more accurate.
In short, Black Book and Blue Book trade-in value meanings are different. Here is a summary of the Black Book vs. Blue Book differences:
Whether you’re considering trading in your vehicle near Florida City or you’d like to learn more about the process, Spitzer Chrysler Dodge Jeep Ram Homestead would love to answer your questions! Just reach out, and we can also assist you when you’re ready to go through the process yourself in Homestead!
