If you consider yourself a great negotiator when it comes to buying a new or used car, you know your first step has to be consulting the Kelley Blue Book.
The first Kelley Blue Book came out in 1926, when cars were practically just being invented. Both consumers and the auto industry have relied on it ever since to provide up-to-the-minute information on current car values. Every make and model in existence is included, and a value is determined based on year, mileage, geographic area, and equipment and options on the vehicle.
So let’s say you are trading in a car and want to buy a new one. The salesperson offers you $5,000 for your old car, but you can immediately say, “The Blue Book value is $6,000...I just looked it up!” However, the clever negotiator knows that the more they give you for a trade-in, the less they will discount the new car. So always just say “I can only afford to pay X amount...the new car price less the trade-in value combined.” There’s your car-buying tip for the day.
