People will start avoiding that vehicle like the plague.Įven less dramatic news like new vehicle announcements with new features can change the value of existing vehicles overnight.
Imagine that news emerges that the chassis on a popular side-by-side breaks as soon as you hit 500 miles. It’s not hard to imagine in a worst case scenario. Even when changes are gradual, the UTV blue book will lag behind. If those changes come swiftly, KBB may be way off the mark. It’s as up to date as you can hope for, but that doesn’t mean it can process that data instantly.Īs trends and economic conditions change, so do the prices that people are willing to pay. Kelley Blue Book gathers data daily to feed its value algorithm. These factors can throw off your estimate causing you to price your UTV or ATV too high or too low. There are a number of factors working against UTV Blue Book values regardless of what kind of vehicle you’re selling. Photo by Librarian Way How Accurate Are KBB Values? But is it also the Blue Book of UTV values? Kelley Blue Book has been around since the ’20s and remains one of the most trusted vehicle pricing tools. So how accurate can the Blue Book of UTV values really be? However, there isn’t nearly as much historical data to draw from for off-road vehicles, and the total number of quads and side-by-sides being sold is a tiny fraction of the number of cars being sold. KBB is also one of the only pricing guides that incorporates UTVs and ATVs as well. They collect all this data on a daily basis, then run it through their proprietary algorithm to give you a single value. Instead of doing something ridiculous, KBB tracks prices of used cars from a variety of sources including dealers, manufacturers, rental fleets, auctions, and private transactions. It’s the most commonly referred to price estimation website and is widely used by buyers and sellers alike.īut how does it work? Do they pull prices out of thin air? Is there a car price genius locked away in a cubicle evaluating every vehicle that exists 24/7? What Is Kelley Blue Book?įor those of you not in the know, Kelley Blue Book has become the gold standard for car valuations since 1926. You probably want to turn to Kelley Blue Book’s UTV section to help make sure you’re valuing your side-by-side properly.īut is the good Blue Book as reliable for off-road machines as it is for standard automobiles? Let’s see if this book is blowing smoke. Selling UTVs and ATVs is even more complicated where surface blemishes and mileage are less important than the wear and tear you can’t see. You have to find the perfect price point to get interested buyers without selling yourself short. Trade-in valuations that equip your dealership for better conversations and your customers with accurate information.Selling any vehicle is a tricky business.A valuation tool for your dealership that doesn’t compete with your brand and keeps your customer on your site.Simple forms that take seconds to fill out and seamlessly captures a lower funnel lead.Data transparency that provides your customers true market values based on the temperature of the market and location.Transparency, simplicity, branding, and accuracy are all factors in building trust that will eventually deliver results in more quality leads, conversations, and sales. If you can gain the trust of a customer you’ll have them for life. Trust is a hot topic in the automotive industry. Consumers may trust the KBB name, but when they come into your dealership and get a different value than how you price cars…well, now they don’t trust you. Uh, oh…that estimate ends up not matching what their car is actually worth. That value looks fantastic to them so they print out their estimate and head into the dealership. After following the necessary, lengthy process of entering the details of their vehicle, they their trade-in value. They go to your website to do a little research, because 80% of all car purchases begin online. Picture this, you have a lead that’s ready to buy and they have a car that they would like to trade-in. The lag time in their data doesn’t take into account economical conditions, industry issues, and location. Yes, the average consumer recognizes the Kelley Blue Book name but are consumers being issued accurate trade-in valuations? KBB builds their pricing based on book values, which poses a few issues.