What is the difference between the trade-in value I see on kbb.com and the Blue Book wholesale value?
A The trade-in and wholesale values are different because they represent two different transactions. The Trade-in Value is what consumers can expect to receive from a dealer for a trade-in vehicle assuming an accurate appraisal of condition. 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 Wholesale Value is the amount a dealer has invested in a vehicle that has been fully reconditioned, inspected and prepared for retail sale. Wholesale Value is used institutionally for regulatory compliance and internal analysis by financial institutions, insurance companies and governmental agencies.
