How Does The KBB Instant Cash Offer Work?

How Does The KBB Instant Cash Offer Work?

KBB stands for Kelley Blue Book. It is a company established in 1926 and based in the US. The company uses industry and market situations to estimate the values of automobiles. They publish a guide for a car’s value on their website depending on the car model, mileage, and usage. They base their estimates on the average cost of the products in the market. These estimates are used by sellers and buyers to estimate the value of the automobile.

KBB also allows customers to rate and review cars based on their first-hand experience. These reviews are published and used to help customers and dealers get a good deal for their cars. Through the KBB website, you can also learn the expected personal cost of your car over a period of time.  The KBB guide is widely recognized in the automobile industry.

One of the most popular services offered by the company is the Kelley Blue Book Instant Cash Offer.

What Is The Kelley Bue Book Instant Cash Offer?

The Kelley Blue Book Instant Cash Offer is a service offered by KBB and assessed through the company website. It is a cash offer for a car that is about to be put on sale by its owner. The offer is dependent on the car information provided by the owner. This offer becomes valid after inspection by a car dealership which accepts the KBB Cash Offer.

Who Can Use The Kelley Blue Book Instant Cash Offer?

Anyone. Both car dealerships and car owners can use the website. Car dealerships can use it to determine the best price to pay for a used car. It also guides them on the best price to sell the products in their stock. Used car owners can also use it to save themselves a lot of time. People who are too busy to drive around the city to look for the best price for their car will be saved a lot of time. Driving from one dealership to another, having the car inspected (by all of them individually), and waiting for an offer can cost you a lot of time. Not to mention the stress of it all.

The service also offers an estimate of the trade-in value of your car. You can find cars for which a trade-in with your car is available.

What Determines How Much You’ll be offered?

More often than not, people will tend to overestimate the value of their car, especially if they love it. This may make them feel like there’s a deliberate attempt to swindle them off their prized asset. Fortunately, Kelley Blue Book Instant Cash Offer uses good old math (not emotion) to determine the value of your car. Let’s see how.

• The current value of the new car: Except for vintage cars, the price of a car model is expected to drop continuously as newer and better models appear in the market. A car model you bought $10K four years ago cannot be the same price today. If the car you’re about to sell has been used, KBB started from the price of its newer version and work downwards. They will not start from the price you bought it. Because that wouldn’t make sense, would it?
• The Car’s Condition:  The general state of the car will determine the KBB cash offer you’ll get for it. More dents or mileage on your car obviously means less cash offer. Questions will be asked about the engine and other functions of your car. These will further help to determine the offer you’ll get for your car.
• Resell value: If you’re not selling your car to a private buyer, then you’re likely to be selling it to a car dealer. This dealer is expected to make a profit and you’re supposed to help him do it. Hence, your Kelley Blue Book Instant Cash Offer will put into consideration the amount the dealership will put into making the car nice enough to display in the showroom. And make a profit after a sale.
• Your Location: You may think the offer you got is not fair because a comparable car had a better offer somewhere else. But the market responds to supply and demand, even on a local level. A luxury car will most likely sell at a lower price in a rural area than in a big city. Just as a truck will fetch you a better price in a farming village than in New York.
• The stock market: You may ask what the hell the stock market has to do with your car. The truth is that the stock market signals the health of the economy, and the health of the economy determines the purchasing power of the citizenry. The more money the people have to spend, the more they are willing to spend. If the economy is great, then you can expect a great deal on your car. The reverse is the case if people are thinking more about essentials than getting new wheels.

Steps To Get An Offer For Your Car On KBB

• Visit the Kelley Blue Book website and navigate to the Instant Cash Offer.
• Submit information about your car. There are three ways to do this:

1. Enter your license plate and state

2. Enter the Vehicle Identification Number (VIN)

3. Enter the car model

• Enter the details that make your car unique. These include the year, mileage, comfort, aesthetic condition, and general condition
• Wait for an offer
• When you get an offer, print it out and take it to a Participating Dealer (a dealership that accepts KBB valuations). The offer is valid for three days (excluding Sundays)
• Submit the car for inspection and confirm the value of your car
• Take cash or use it as a trade-in for a car of your choice.

Kelley Blue Book may decide not to give you an offer. This may be because your car is ineligible for a cash offer. The ineligibility of your car may be as a result of the car model, age, mileage, condition or other market factors.

Conclusion

In summary the Kelley Blue Book Instant Cash Offer is a good place to start if you want to get rid of your car quickly. It is fast, efficient and saves you a lot of stress. It is also a good place to find a great trade-in deal.