That's because factors such as odometer reading, equipment can directly impact the value of cars. With so many variables, it’s difficult to know the right price to pay for a car.
Kelley Blue Book began in the U.S. in 1918 when Les Kelley started the Kelley Kar company. After years of successfully running the car company, Les Kelley introduced the Kelley Blue Book in 1926.
Les Kelley was so successful at selling cars that he constantly needed more cars for his lot; he began distributing a list of automobiles he wanted to purchase with the prices he was willing to pay for them to dealers and banks.
Soon, the automotive community trusted his judgement as a good reflection of current values. Other dealers and banks requested the list for their use, and the Kelley name became the most trusted for car values. This list later became known as the Kelley Blue Book.
Kelley Blue Book Data Scientists use a wide range of data points to build market reflective prices. Our trained team of statisticians and data scientists have developed a proprietary algorithm that takes into consideration a multitude of factors before developing a forecasted value. Some of these factors include odometer, condition, trim, and seasonality.
To ensure our data is accurately reflecting Australian market trend, our Australian based data analysts review Kelley Blue Book forecast value on a monthly basis. The analysis take into consideration of the Australian market situation and economic factors before publishing our forecasted values to the public.