New Carlypso Study Shows Consumers Shouldn''t Rely on Kelley Blue Book Values When Selling/Buying Used Cars
(firmenpresse) - SAN CARLOS, CA -- (Marketwired) -- 08/06/15 -- , the first technology company to sell used cars hassle-free with the largest inventory and best prices, announced today a new study that sheds light on how unreliable Kelley Blue Book values can be when it comes to determining the right price for a used car.
Carlypso''s study shows that while most consumer-trusted car sites try to give as fair a valuation as possible, there can be overpayments or missed revenue opportunity if you rely on Kelley Blue Book as a source.
Carlypso examined 326,000 wholesale vehicle transactions from December 2014 to April 2015 and compared these makes and models relative to Blue Book Values to find better prices for consumers buying used cars, and also cars that should be priced higher if consumers are selling their vehicles.
"While Kelley Blue Book is a well-known reference, it is not a reliable source for determining the true value of your car. When we looked at 326,000 vehicle transactions and compared them to Blue Book Values, the Blue Book Values were all over the map: on average, KBB was off by $4,379 compared to the 326,000 vehicle transaction we have on record," said Chris Coleman, co-founder of Carlypso. He added, "Consumers need to remember that KBB values are not based on actual transactions. KBB doesn''t buy or sell used cars!"
In the first category, Carlypso noted cars that are significantly cheaper than KBB estimates based on wholesale transactions.
In the second category are cars that universally sell for more than what KBB indicates.
As a consumer here''s how to avoid confusion when it comes to comparing the ACTUAL price to the Blue Book Value.
Primarily -- don''t go by Blue Book Values -- compare other similar cars with similar year, make, model, trim and mileage. The market is the best indicator of market prices.
If possible -- ask what the dealer paid for the car. A fair markup is $2000-2500 including refurbishment.
Most dealers will only negotiate a small amount, so don''t expect huge discounts!
If a dealer is letting you know the car is "well below Blue Book" chances are so is every other car in the market! Don''t use it as additional pressure to make a purchase.
Conversely -- don''t insist a dealer sell you a car "at Kelly Blue Book" -- some cars simply command higher values.
is the first technology company to sell used cars hassle-free with the biggest inventory and best prices available. Carlypso finds the best deals on inventory before it goes to the dealer, and passes that savings onto the consumer. An "Amazon for used cars", Carlypso advertises 4,000 used cars per week that are generally $2,500 below any traditional dealer offer. Carlypso, based in San Carlos, CA, has sold hundreds of cars to date for consumers throughout California and is expanding nationwide. For more information visit .
Media Contact:
Kerry Metzdorf
Big Swing Communications
978-463-2575
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Datum: 06.08.2015 - 10:00 Uhr
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News-ID 1377519
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