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Understanding book values and market values can be confusing. Let http://www.houstonautoappraisal.com  help you find the information you need.

You've probably heard the term "blue book" before, but you might not know what it means. Is it like a little black book? Sort of, where cars are concerned.

What's a "Blue Book," and Why Should I Care?

A "blue book" refers to Kelley Blue Book . First published in 1926 by company founder Les Kelley, the book is named after The Social Registry, a book that listed the names of local movers and shakers commonly referred to as the "blue book."

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Through the years, the book has become a trusted source of information for the automotive industry, sort of like an industry bible. It's kept up with the times, turning into a viable online resource. This "book" can be used as a reference for obtaining important information on new and used cars as well as motorcycles and recreational vehicles.

Kelley publishes several versions of its books for different types of users. We'll take a closer look at two versions widely used by consumers.

Kelley Blue Book New Car Price Manual

Not surprisingly, this book offers information on new cars. Like what?

Manufacturer's suggested retail price (MSRP): This is the price suggested by the manufacturer, and it is (gasp) usually inflated. Included in the MSRP are the destination charge for the vehicle and the minimum required equipment cost. Kelley Blue Book also lists this information separately.

Dealer invoice: This is the price the manufacturer charges the dealer for the car. It doesn't include dealer expenses such as advertising, sales commission, and preparing the vehicle for display. Know this price before you begin looking at price stickers on the dealer's lot.

New car blue book value: This is the average selling price of the vehicle, taken from actual sales of the vehicle from dealers throughout the country. Often, there are regional price differences, due to variations in demand. For example a convertible in Houston, Texas might be cheaper than one in San Diego, California.

Optional-equipment price: Want to know how much that optional sunroof will cost? Kelley Blue Book lists the price of certain options.

Kelley Blue Book Used Car Guide

Here's where you'll find the nitty-gritty on used cars, such as:

Retail value: This is the average listing price by dealers around the country. It's important to note that this is only the typical "asking" price on the vehicle, and that the actual selling price can be more or less. Sometimes a lot less. Why? Because the retail value includes dealer costs such as advertising and sales commission, it may be higher than a private-party asking price.

Private-party value: Here's where you'll find an estimate of the price of a car if you were buying it from your next-door neighbor. Because an individual doesn't bear the burden of a dealer's overhead, this price can be lower than the retail value. Be aware though, that the price is just a starting point, since Kelley doesn't track all private-party used car transactions throughout the country.

Trade-in value: This is the typical price that a dealer would offer you for your used car. Again, this price tends to be lower than what you'd receive from a private buyer.

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The Online Experience

Kelley Blue Book has even more information, updated weekly. Here you can compare cars, check out safety ratings, read reviews, even shop classified ads and insurance carriers.

If you're looking at a new car, just go to the website and select the manufacturer, make, and body type of the car. The site will ask you to select your desired body trim and model year, as well as your zip code. It then shows pictures of your selection and tells you what's new for this year. It's simple and quick.

For used car information, you follow the same steps under the Used Car tab. It'll ask you what kind of price you want: retail, trade-in, or private party. Then you'll need to know the mileage and condition of the vehicle. Don't worry―a description is provided for each condition category. And if you still can't decide, fill out a condition quiz. Pricing information will appear, and you'll know how much to sell or buy your car for.

Still confused? The Kelley Blue Book site has an excellent Frequently Asked Questionspage to help you figure things out.

Note that the site has information on cars sold only within the United States.

Remember, many factors influence the value of a vehicle with current market values having the most significant weight. Use the information from these books only as a guide, not as the final word.

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Other Sources

You can find much of this information elsewhere too, such as at sites like Edmunds.comor the NADA Guide.

 

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New York - New York State Department of TransportationNew York Metropolitan Transportation CouncilPort Authority of New York and New JerseyThruway Authority, New York State

North Carolina - Department of TransportationDivision of Highways, ITRE: UNC Institute for Transportation Research and Education

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Texas - Center for Transportation ResearchDepartment of TransportationTexas Transportation Institute

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Virginia - Department of TransportationVirginia Tech Transportation Infrastructure & Systems Engineering Division

Washington - Department of Transportation

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At Pinnacle Auto Appraisers, we bring our expertise and experience to the table for large corporations as well as the little guy. Whether you are: an individual, corpoation, or small business owner looking for appraisals, we can help by properly valuating what you own.

If you live in Houston, Texas or in the surrounding areas offer certified auto appraisals on classic cars, antique vehicles, late model vehicles, fleet vehicles, boats, motorcycles, ATVs, RVs, Heavy Equipment, Farm Equipment and more! Our Houston, Texas appraisal services include: lease turn-in appraisals, total loss claim appraisals, diminished value appraisals, stated value insurance policy appraisals, pre-purchase inspections, charitable donation appraisals, and more!  Please contact us today for more information about our appraisal services in the Houston, Texas market.

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    If you are looking to increase your insurance coverage on your vehicle, the insurance company may require you to obtain a certified auto appraisal. If you have a custom car, truck or motorcycle, the insurance company won't pay you more than book value. Get a stated value appraisal to cover money spent customizing your vehicle. Have a collector or exotic vehicle?  Book value does not justify current market value. Have a certified auto appraisal done to ensure your vehicle is properly valuated.

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    Pinnacle Auto Appraisers prides itself on quickly handling large amounts of vehicles. We routinely handle fleets for: vans, trucking, limousine, shuttle, buses, SUV, corporate, taxi, dealership, clubs, rental, and delivery companies. We handle large national chains, small family businesses, and car club appraisals.

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    If you were involved in an accident and the insurance company deemed your vehicle a total loss, we can help.  If you don't agree with the insurance company's offer, you have the right to hire an independent certified appraiser to determine the actual cash value of your vehicle.  Our certified appraiser will go to the vehicle location, conduct the inspection and complete a certified total loss appraisal on your vehicle.  Total loss claims do require a negotiation phase which we will take care of for you at no additional charge!

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    Are you looking at potentially buying a late model or classic vehicle but you're out of state and can't look at the vehicle yourself? Do you need someone to make sure the vehicle is worth what the seller is asking? We can help! With a Pre-Purchase Inspection, we will go out to the vehicle and check for condition issues, mechanical issues, leaks, rust and more! We can also perform a certified auto appraisal on the vehicle to give you peace of mind when making an offer to purchase the vehicle. Don't risk buying a vehicle sight-unseen! Let us perform an inspection before you buy! Contact us today for more details!

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