Ever wonder how Kelley Blue Book is able to know what every vehicle is supposedly "worth"? That is a subject for another time and another article. For now lets assume their science is good (has evolved since its inception in 1918) and focus on using their pricing guides to determine how to get the most money for your vehicle.
Selling Your Car is Like a Tug-of-War
Isn't it funny how we seem to naturally use Kelley Blue Book figures (or similar pricing guides) to measure our personal level of success with getting a great deal (buyer) or getting the most money (seller) during a sale transaction? We come to the battlefield armed with our Kelley figures and prepared to wage war against the other side. Ok, maybe its not all out war, but a kind of tug-of-war where Kelley's numbers become the little red flag (value) tied to the tug-of-war rope (your vehicle), and where the goal is to pull the the flag closer your way before settling on the final sale price. So, is there a way to improve your chances of victory? Absolutely, especially if you are the seller. Victory in tug-of-war is all about being on the side of the rope with the most strength, size and expertise.
Kelley Blue Book Confirms Used Vehicle Dealers Get Highest Resale Value
According to Kelley Blue Book, "If you're buying a used car at a dealership, start with the Typical Listing Price. It gives you an idea of the asking prices you might see on dealer's lot. For what you might actually pay for that used car, use the Kelley Blue Book® Fair Market Range as a guide. It'll show you what you can reasonably expect to pay this week in your area for a used vehicle with the options and mileage you want. It's based on data from real transactions, plus market conditions and vast industry knowledge. If you're buying the car from an individual instead of a dealership, look at the Kelley Blue Book® Private Party Value. It's the starting point for negotiation of a used car sale between a private buyer and seller. It tends to be a little lower than the used car Fair Purchase Price because a private party doesn't have all the costs associated with running a dealership."
Strengthen your position with the consignment option
Here is a simple illustration of your three selling options where the buyer (B) is on the left side of the rope, the seller (S) is on the right side of the rope and the value (v) is the red flag denoting who will win the tug-of-war based on their position of strength and expertise:
(Dealer trade-in or Instant cash offer)
(Private party sale)
When you use the consignment option to sell your car, motorcycle, or RV you strengthen your position on the value and price you will get as seller. All of the many benefits of selling through a retail auto dealer that specializes in consignment can be summed up in four major ways - Value, Expertise, Safety and Convenience.
Retail My Ride makes it easy for you to find auto, motorcycle, and RV consignment dealerships near you. Search our national directory by postal zip code, city, county or state to get started. With them on your side of the rope, you are sure to win the tug-of-war every time.