As consumers gain more and more visibility into the car shopping process, new opportunities have been created for dealers to differentiate themselves by understanding the needs of shoppers and providing transparent market-based pricing.
Our research has consistently demonstrated that shoppers prioritize a fair price not only for the new vehicle they’re purchasing, but also for the vehicle they’re seeking to trade-in or sell for cash. We also know that limiting market-based pricing to a single price-point doesn't take into account all of the variables associated with structuring a car deal. This led us to our range-based pricing tool, the Kelley Blue Book Price Advisor.
The Price Advisor reduces friction during pricing discussions by giving shoppers realistic pricing expectations. Transparent range-based pricing gives shoppers the confidence they need and gives you the flexibility you require – all helping the conversation become faster, easier and more enjoyable.
The Price Advisor for trade-ins reflects the Kelley Blue Book® Trade-In Range – what a consumer can reasonably expect to receive for their current vehicle.
The Price Advisor for purchase reflects the Kelley Blue Book® Fair Market Range – what a consumer can reasonably expect to pay for a USED/CPO vehicle.
Updated weekly, the Price Advisor reflects the current market for a selected vehicle.
The Trade-In Range takes into account actual recent vehicle appraisals as well as wholesale transactions (excluding auction fees and transportation fees) that are adjusted for local market conditions, seasonal trends, and vehicle color, mileage, age and condition.
The Fair Market Range takes into account actual recent new and used vehicle sales transactions that are adjusted for local market conditions and seasonal trends.
The white and red zones identify special circumstances where the price/value of a vehicle is unusually low or high.
The Price Advisor helps build credibility between dealers and consumers by providing consumers with realistic pricing expectations and confidence that they can get a fair deal. Kelley Blue Book – the most trusted third‐party automotive brand - created the Price Advisor to reinforce consumers’ trust and confidence.