Thursday, July 10, 2008

Kelly Blue Book Stinks!!!! Soap Box Thursday!

This is my first soap box post! I was thinking.. about all the things that we don't find out until "after the fact"... some things I believe would be worth knowing before hand! So I decided to host Soap Box Thursday lol. Let me give you my soap box story, which has sparked this idea. lol Last Friday, On July 4th, my husband and kids decided it was time to buy a car. We love the car we had, which was a PT GT Cruiser, but after just having our second child we have quickly outgrown our little car. Since the day we purchased our PT we determined to take excellent care of our "baby". And I will add for sentimental reasons, this was our first real purchase as a married couple, kind of special to us.

After about three hours into choosing the new car of our choice and negotiating(at the dealership), the salesman proceeded to ask us what our downpayment would be. We explained to him that our PT would be our trade in as well as the equity we had in the car would act as our down. We had put a lot of thought into this car as far as purchasing a car that we thought would hold its value. For example, we bought the GT model, all leather seats, sun roof, basically loaded.
Kelly's Blue Book had provided us the numbers and values for our car and that for the last few years we had been basing the sell of our PT on Kelly Blue Book Values. He (salesman)shook his head, then launched into a 15 minute (it seemed) explanation on why Kelly Blue Book is no good and values are not accurate. In fact they are so Inaccurate that we only received 45% of what we thought we would for our car. Talk about feeling sick!!!! The salesman explained that hardly any dealerships, as well as the STATES do not recognize Kelly Blue Book as a reliable source... and not only is Kelly Blue Book questionable but there is fine print at the bottom of each 'quote' that reads only 5% of vehicles will meet this criteria. (GRRRR)

So it would of been better for us to sell our PT ourselves, come back and buy a car with the money we made from our own sale... Instead the dealership paid off the rest of our PT loan which was hardly anything, and gave us 250 dollars. Which basically we made pennies on the dollar for our investment.
I only share this because if we would of known this.. we would of done things completely different with a much better plan. Yes, we walked away with a nice mini van with all the perks and room we had hoped for, but we left behind an investment that we feel was basically taken for free.

Don't let this happen to you!!!!
What I recommend is to call the dealership a head of time that you plan on visiting and if you have a trade in ask them what method they use to gage the value on a car.

So basically, in my opinion,
Kelly Blue Book Stinks!!! lol This is my Thursday Soap Box Story!!! Feel free to link up and share your story. Perhaps your experience will spare someone else!

1 comment:

Suzanne said...

The Kelly book does stink. I looked up the value of DH's old car before we sold it and it was listed as $700. Just great. But the dealer offered us $1000 without even looking at the car! We took it. So that worked to our advantage, but your experience and mine show how pointless the Blue Book is!

I love the idea of a Soapbox Thursday! I'll be back! :)

A little about me...

It is that time again!!!! I am thinking of attempting to lose weight for the 100 millionth time. haha. This time I know it will work :)

In November of 2007, I gave birth to my second child, a C-Section. Not only did that put me back physically, but I also developed high blood pressure. I am only 29. Talk about discouraging.

I started gaining weight in highschool. Seems to have followed me everywhere. My ultimate goal is to lose 120 lbs but I'll settle for 10 right now. haha.

There is absolutely no reason why I cannot succeed in this weight loss endeavor. I have exercise equipment. I guess that means I have to use it. Also, I am going to attempt the Carbohydrates Addict Diet. I have had some success with this in the past.

So I am thinking, with putting my progress out for the world to see.. it will force me to make the right choices. Let's hope!! Feel free to comment on anything or tell your story. It's always encouraging to hear about others successes. Join me on this weight loss journey...

My Weight Progress: