![]() The site also examines regional factors and current market fluctuations. Like KBB, Black Book looks at a vehicle’s age and condition to gauge its value. NBC News June 23, 2021īlack Book was founded nearly 40 years after Kelley Blue Book, its biggest rival. In the past year, used vehicle prices on average have climbed 30%, according to Black Book, which tracks car and truck data. KBB even offers pricing reports for other types of vehicles, such as motorcycles. Higher trims with more features will also have better resale values than their lower-level counterparts. The service also takes region-specific factors and the current national economic climate into account.Ī car’s condition, age, and mileage also contribute to its Blue Book value. KBB says it relies on industry trends, the latest field analysis findings, and analytics to determine vehicle values. Kelley Blue Book is the older of the two resources, so it’s the better-known choice. How does Kelley Blue Book determine a car’s value? Kelley Blue Book president Jared Rowe | Gina Ferazzi/Los Angeles Times via Getty Images Let’s break down the difference between these two car sales services. However, depending upon their needs, prospective buyers might be better off knowing a car’s Black Book value. KBB also offers in-depth reviews and comparisons to help shoppers narrow down which car is their perfect fit. Users can search the site for any car’s average asking price and estimated trade-in value. For nearly 100 years, the company has used extensive research to determine the value of any given vehicle. “In a month or two we will flip the switch into a spring market, where people start to get thinking about an RV, and a lot of the dealers will start to host their local RV shows.When searching for the best prices for used cars, many consumers turn to Kelley Blue Book. “The market we are in right now is a typical winter market,” Lawrence said. The average model years sold were 2015 for motorhomes and 2018 for towables. Towable values were down 16.5% compared with October. Motorhome volumes were down 14.3% compared with October. The average sales price one year ago was $18,529.Īuction volume was down for motorhomes and towables. The average towable sales price was $18,294, down $647 (3.4%) from October. “Towables were less volatile, with their values falling slightly for the fifth consecutive month.” “Motorhome values declined quite a bit last month, continuing an overall trend that first emerged in mid-2022,” Lawrence said. Low values are typical in colder months, Lawrence said, when the weather keeps consumers from RVing and buying. The sales price one year ago was $68,565, a 21.3% decline. The average motorhome sales price was $53,896, down $9,916 (15.6%) compared with the previous month. ![]() ![]() RV values have been on a downward trend since mid-2022. ![]() RVs bought after 2020 are surfacing in new spaces.īlack Book’s January RV Market Commentary reported RVs originally sold in 2020, 20 are appearing more frequently in wholesale auctions.īlack Book Specialty Vehicles Principal Automotive Analyst Eric Lawrence said, “We are starting to see the first wave of the Covid units go through the sales process the used sales process again.”Īdditionally, Black Book found a continued decline in wholesale RV values in November 2023 compared with October 2023.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |