A new tool is coming to Canada to help consumers compare and contrast prices of used vehicles. Global automotive powerhouse COX has announced they’re planning to bring Kelly Blue Book to Canada later this year. Kelly Blue Book is a vehicle valuation company that allows consumers to check prices and values when buying and selling new or used vehicles. The goal is to increase vehicle price transparency among dealers.
KBB has been providing valuation information to American Dealers since 1926. They provide market value for used vehicles based on actual vehicle transactions. The valuations are regularly changed to reflect changing market conditions.
For new vehicles, Kelly Blue Book provides both MSRP and dealer invoice prices. For used vehicles, it provides up to date retail value, auction value, trade-in values and private party values.
Following a trend of informational transparency & digital purchasing
A consumer will spend an average of 10 hours on the web while searching for a car. A majority of consumers have a more positive impression of a dealer if they offered a digital negotiation or financing process. 52% of used car customers visit the dealers website during the purchase process. Smartphones are also growing in popularity as 53% of automotive internet shoppers use one in their quest for automotive information. This is just part of ever changing trends automotive industry.
A connected, web-first approach from consumers puts dealerships in a relatively new space. Maintaining competitive market prices could be an opportunity and a downfall for used car dealerships. Kelly Blue Book can act as a useful tool for both dealerships and consumers to remain transparent in listing and purchasing prices.
The Canadian Black Book has existed for some time offering similar market-price valuations for new and used cars. Kelly Blue Book will simply act as another tool to verify and contribute to already existing prices. Due to their technology, we could expect to see prices of cars change much more frequently. Even if the change in price is miniscule, it will be important for used car dealers to update their prices in real time to match or beat current prices.
Used Vehicle Trade-In Value Transparency
Furthermore, Kelly Blue Book can add a level of confidence for a customer who wished to trade in their vehicle. Trade ins can significantly lower the cost of your new vehicle. With a tool like KBB at your disposal, you can be confident in the value of your trade in. Selling our used car privately can be quite the hassle. We offer free appraisals and encourage trade ins. Let us help you help us. Skip the private sale, and trade in your vehicle confidently.
Enhancing Customer Experience Through Transparency
At S.A.S.S, we look forward to staying ahead of the curve in price transparency. There’s so many used car dealers for consumers to choose from. It’s imperative that we start by listing a truthful, relevant price on our various sales channels. Next, updating or matching vehicle prices. While also providing quality trade in values. And finally providing a seamless, stress free buying or financing experience. This PwC report outlines the stresses the modern auto consumer faces when purchasing a car. We are doing everything we can to eliminate a time consuming, stressful process.
Whether you’re looking for a luxury vehicle, a truck, an SUV, a passenger car or something else, we can help. Do you need help with financing? Or are thinking about trading in your current used vehicle? We look forward to using the newest technology and tools to get you in a vehicle for as cheap and stress free at possible. Come visit us at 50 Malcolm Road, in the Guelph Auto Mall, give us a call, or message us on any social media to learn more.