Most dealers and credit unions use a software program from Kelley Blue Book. For some reason over the last couple of years the software has not kept pace with the current wholesale prices. For example if you ask your CU to run a blue book sheet on a car, the print out might show low book value of $10,000. That doesn't mean that is what the dealership will pay for a trade in. In most cases the actual trade in value will be less then the amount on the print out. The term the dealerships use is "Back of Book". May cars have been selling for thousands of dollars back of book. Fortunately for us, the on line Kelley Blue Book site gives a more realistic trade in value. So prior to your going out to any dealership get an idea of what your trade in is really worth. Click on the Kelley Blue Book site link below and run your trade in value. Use average condition if your car is very clean and nice. The value you come up with, will be very close to the amount a dealership will really pay for your trade in.
