If you are selling a car private party, then don't start out asking the private party value for your car. Use other peoples perceptions, of Kelley Blue Book as the leader in used car values, to your advantage here. Simply use the Kelley Private Party Value (assuming it's less than the sale price) as a reference to show them, without appearing insulting, that this is what the "whole world agrees" this car is worth via a private party car sale. You can oftentimes use that mentality to your advantage if you are dealing with a somewhat stubborn private party seller and you feel they are asking too much for their car. Whether I believe it to be a worthless number or not, there are thousands upon thousands of consumers that consider Kelley Blue Book values to be the "end all be all" of used car values. I don't think Kelley Blue Book has quite the handle on the private party value as they'd like you to believe. It also seems overly convenient to me that the private party value established by Kelley Blue Book almost always falls neatly, and squarely, between their retail value and wholesale value. It usually benefits both the buyer and the seller to report a lower sale price.įor instance, if the actual sale price was $10,000, but the buyer reports only paying $5,000 for the vehicle, then they pay half in taxes.įrom the sellers stand point, why not go along with that.If the buyer ever tries to sue for their money back down the road, the seller is only liable for the provable sale price of half, or $5,000. Sure Kelley Blue Book could check registration data and sale prices through the Motor Vehicle Departments records, but how many buyers and sellers actually report accurate numbers with private party car sales. I consider it to be fairly worthless, because it is not a very easy value to get accurate data on. If you are considering selling a car via private party car sales, then I'd also like to show you why it's best to ignore this number if you want to maximize profits. Ouch! I know that may have come across a little rough, but I'll explain why in a second.Īlthough, I don't think it is a very significant number, I'd like to show you some ways to use the Kelley Private Party Value if you are looking to buy a car via a private party car sale and want to wiggle a seller down. The Kelley Private Party Value is, in my opinion, the most worthless of the four values that Kelley Blue Book (KBB) provides.
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