To be sure, higher end versions of the Tacoma also were on the list, but even more mainstream vehicles are selling for more than their original prices. For instance, the Kia Telluride and Hyundai Palisade made the list even though both are considered good values compared with more expensive SUVs with three rows of seats.
Yurchenko says the crazy prices are moving further into more ordinary vehicles. It all started in April and May of last year, when U. That cut production, limiting inventory even as demand remained surprisingly strong. The factories came back faster than expected, and in the meantime, computer chip makers had switched to manufacturing semiconductors for phones, laptops, gaming systems and other consumer electronics.
That created a shortage of automotive chips, which is forcing car companies to temporarily close factories, leaving some dealers with few new vehicles. The lack of new vehicles and higher prices have sent more people into the used vehicle market, so demand is high there, too. But there are signs that price increases are starting to slow. Used car prices rose 0.
Trucks and SUV prices grew 0. You can also use the service to find the value of several vehicles at a time. Several websites offer free Black Book value estimates online. The process for getting your free value is the same for all three websites. To find your value, do the following:. GM Certified also has the same estimator for Black Book values. You may also find the estimator on your local dealership's website, too.
When you use a free Black Book value calculator, you are only getting an estimated Black Book car trade-in value. Visiting a dealer may result in a different valuation depending on the current information available, along with market pricing changes, their assessment of your vehicle, and more.
Black Book keeps quiet about its exact formula for establishing wholesale car values, but the organization does share some information about its sources and methods. Team members attend more than 50 vehicle auctions each week. They record sales prices and talk to dealers about trends.
In addition, Black Book receives daily transmissions of sales data and has special software to help organize this information. You may notice that The Black Book value you receive is significantly lower than the sticker price or trade-in value for the vehicle. That's because The Black Book provides wholesale or auction values. This is the price a dealer might pay for your car at an auction or trade event, allowing for the money the dealer would need to invest to prepare the car for sale.
When you're considering trading in your car or selling it to a dealer, The Black Book value is only a guideline. Leo Marquez, a sales manager at a Ford dealership in New Mexico, says pricing also depends on other factors. If you're armed with a Black Book value, visit a dealership or used car lot at the end of the month. The end of the month is when we really need to hit our sales goal numbers and chances are, you'll get a better trade-in value then.
Auto Black Book values can be handy if you plan to work with a dealership that visits auctions weekly. With a Black Book auction value in hand, you can ask a dealer to try and obtain the vehicle you want at the auction. This means that the price you pay will not be The Black Book value, but you can negotiate.
The value you receive from Black Book may be significantly lower than the invoice price of the car. Wondering if The Black Book might be useful for you?
Before you plunk down hundreds of dollars for a subscription, answer the following questions. Consider the rough value of your vehicle. If you're simply trading in an ancient hatchback, paying the subscription rate will be impractical. However, if your car is worth a lot of money, especially if it's a classic vehicle, The Black Book could be an important source for its value.
Know how many times you plan to use the subscription in the next year. Will you be trading in or selling several vehicles? Will you be making a lot of car purchases? If so, you could very well get your money's worth out of your subscription. The Black Book value will give you a significant advantage in negotiations. Remember that there are many factors to consider when seeking an auto valuation.
Beyond exterior and tire condition, the vehicle's mileage, equipment options, and the area where you live all play a large part in determining value. Depending on your situation, finding The Black Book used car value of your vehicle can help you save money.
However, this source isn't for everyone. If you won't be using the service a lot, Kelley Blue Book or another valuation tool may be better. Regardless of where you get your information, doing your research is extremely important when you buy or sell a car. Subscribe to Black Book Before you can access the library of car values, you'll need to become a Black Book subscriber.
Each subscription includes all four resources: Black Book Daily - This publication updates used car values daily.
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