KBB ICO and Customer Acquisition (2024)

FAQs

What is KBB ICO? ›

The Kelley Blue Book® Instant Cash Offer is: A fixed offer applied toward your next car purchase or used to sell your current car to a Participating Dealer (pending inspection) Valid for 7 days. No need to negotiate because each offer is a fixed amount.

What Different Used Car Blue Book Values are Available? The amount a buyer can expect to pay when buying a used car from a private party. The amount consumers can expect to receive from a dealer for a trade-in vehicle. The value that is representative of dealers' asking prices for a used car.

We leverage massive amounts of data, including actual transactions - then adjust for local market conditions and seasonal trends. Our values reflect both wholesale and retail transactions to provide a 360 degree view of the market.

Kelley Blue Book's car prices were so commonly used by dealerships that the term "Blue Book" became a part of dealership lingo, and many car shoppers eventually adopted it as well. In 2010, Kelley Blue Book was acquired by Autotrader, and the brands now are closely interconnected under the Cox Automotive umbrella.

The Kelley Blue Book^® Instant Cash Offer is a real offer for a specific amount to purchase a consumer's car or apply the amount toward another car.

Instant Cash Offer is the dependable way to sell or trade your car.

Lag – It takes time for data and analysis to make its way through KBB. Prices listed may not always reflect the very latest trends and economic conditions. Consumer bias – Most people think the car they are selling or trading in is in better condition than it really is.

KBB factors in the condition of the vehicle, local market conditions, and popularity of the vehicle, so their prices tend to be a lower than NADA. NADA values tend to lean higher because they assume cars are in good conditions. Insights can be gained from both values, but KBB looks at more factors.

Potential problems with Blue Book values include a delay as price information is assessed, the consumer tendency to overrate the value of the car they are selling or trading in, and a mismatch between wholesale values listed by Kelley and the prices used by dealers, who access special industry-only pricing info.

While KBB tries to provide an accurate estimate of a car's value based on this information, it's important to remember that it's still just an estimate and that the actual value of the car may vary based on many factors.

How does KBB come up with their fair purchase price? ›

Fair Purchase Price is determined by collecting thousands of actual consumer vehicle purchase prices, plus data from national vehicle registration databases and several other reliable third-party sources. Kelley Blue Book's lead analysts and statisticians review and validate the data each week for reliability.

Kelley Blue Book provides values for used vehicles from model year 1992 and newer. Transactions for older vehicles are too rare, therefore we do not have enough data to analyze and are unable to report values for them. Why aren't your vehicle values reflective of my market area?

Kelley Blue Book Co., Inc. is a vehicle valuation and automotive research company which is recognized by both consumers and the automotive industry. Based in Irvine, California, the company is owned by the Cox Automotive subsidiary of Cox Enterprises.

Black Book has been providing vehicle data and insights since 1955 and is a competitor to Kelley Blue Book. Dealers often use Black Book as a source to determine the used car price an owner might receive for their vehicle as a trade-in.

Since 1926, Kelley Blue Book has been one of the most trusted names in the auto industry. You might say we literally "wrote the book on car values". And today there's no better place to find the value of your current car than KBB.com.

The accuracy of KBB values can vary depending on several factors, such as the condition of the vehicle, its location, and the current market demand for that particular make and model. KBB values are based on a number of factors, such as the car's make, model, year, mileage, condition, and features.

The Kelley Blue Book—and its equally popular website—is one of the most trusted guides for automobile pricing, used by those who are buying or selling cars. Kelley assesses a wide array of different values to both used and new vehicles.

Almost always, the amount of money that a dealer will offer for the vehicle, the trade-in value, is less than the amount of money that you could get by selling it on your own, the market value.