Value Type Definitions:
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Private Party Value
is the amount a buyer can expect to pay when buying a used car from a private party. The Private Party Value assumes the vehicle is sold "As Is" and carries no warranty (other than any remaining factory warranty). The final sale price may vary depending on the vehicle's actual condition and local market conditions. This value may also be used to derive Fair Market Value for insurance and vehicle donation purposes.
Trade-In Value
is the amount consumers can expect to receive from a dealer for a trade-in vehicle, assuming an accurate appraisal of the vehicle's condition, mileage and features. This value will likely be less than the Private Party Value because the reselling dealer incurs the cost of safety inspections, reconditioning and other costs of doing business.
The Kelley Blue Book Suggested Retail Value
is representative of dealers' asking prices for a used car, and the starting point for negotiation between a consumer and a dealer. This Suggested Retail Value assumes that the vehicle has been fully reconditioned and has a clean title history, but has not been certified in accordance with any Certified Pre-Owned (CPO) program the automaker may offer (for which it may or may not qualify, according to factors such as vehicle age and mileage). This value also takes into account the dealers' profit, costs for advertising, sales commissions and other costs of doing business. The final sale price will likely be less depending on the vehicle's actual condition, popularity, type of warranty offered and local market conditions.
Kelley Blue Book Certified Pre-Owned Value
is representative of dealers' asking prices for a used car covered by the automaker's CPO program, and the starting point for negotiation between a consumer and a dealer. Certified Pre-Owned cars are screened and reconditioned according to the automaker's CPO program specifications, and typically include warranty coverage that extends beyond any remaining factory warranty. Kelley Blue Book Certified Pre-Owned Value takes into account the dealers' profit, costs for advertising, sales commissions and other costs of doing business, plus any value associated with the CPO program. The final sale price may vary according to the vehicle's actual condition, popularity, type of warranty offered and local market conditions.
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