Kelley Blue Book vs NADA Guides
Kelley Blue Book and NADA Guides are perhaps the top two automotive references in the industry. They help buyers, sellers, dealerships, and just about everybody else to better understand what a fair price is and is not. However, although they both rely upon in-depth analysis, they don’t always come up with the same numbers. That’s why we created this explanation of Kelley Blue Book vs. NADA Guides.
Our team here at Andy Mohr Automotive wrote this article to give you a sense of their similarities; to explain how each group comes up with their numbers; and, finally, to weigh the significant pros/cons.
Remember: if you live around Indianapolis, Plainfield, Bloomington, or any of the surrounding areas, and you’re interested in purchasing your next used car, we have one of the best selections around.
You can also find out the differences between Kelley Blue Book and Black Book here!
Similarities: Kelley Blue Book and NADA Guides
We’ll start with a few things that the two publications have in common. Here’s what you can expect:
- Customer Focused: Although everybody uses them, they’re focused on helping the consumer.
- Consumers and Dealers: Although they’re focused on the customers, that doesn’t mean that they can’t help the seller, either. They’re great tools for individuals trying to sell a car!
- Regularly Updated: You can be sure that you’re always getting the most up-to-date info.
- Wide Scope: From cars and trucks to SUVs and RVs to minivans and motorcycles, they’ve certainly got it all. You really don’t have to worry about not finding your make and model.
Now that we’ve covered their similarities, we’ll get into the differences between the two. Let’s go!
Benefits of Kelley Blue Book
Kelley Blue Book typically uses a set of four criteria to calculate a car’s trade-in value: condition, popularity, warranty, and local market conditions. By using these variables to establish a benchmark, buyers (or sellers!) can compare the relative costs of specific vehicles across private party sellers and dealers.
The main advantage of this model is that it stays pretty consistent across markets. This way, you’re not limited to just comparing prices within Indiana – you can expand to Ohio, Kentucky, Michigan, etc.
Benefits of NADA Guides
On the other hand, NADA Guides usually focuses on an entirely different set of three factors: wholesale prices, local market demand, and real-time retail market prices. They oftentimes set their price points a little bit higher than their competitors, so you might be in for a pleasant surprise when you actually buy.
Contact us today at Andy Mohr Automotive to test drive a used car!
In conclusion, Kelley Blue Book is better for buyers who are scouring far and wide, while NADA Guides is better for buyers who like to err on the conservative side. So, you really can’t go wrong with either one!
Regardless of which automotive publication you’re using, we want you to know that you can always find a great value for an affordable price around Bloomington, Plainfield, and Indy right here at Andy Mohr Automotive! If you’re interested in learning about our extensive pre-owned inventory, contact us now.
Simply call us on the phone, text us from your cell, chat with us on our website, or stop by in person, ok?