60MinuteCar

History of Kelly Blue Book

Hey, my name is Dan, and I used to work at the biggest car dealership in the country and now I teach people, find folks like yourself how not to get f•••ed when buying their car. Kind of a cool gig, huh? So in this video I want to teach you about KBB and if you should use it and how you should use it. So it started by a guy named Less Kelly. He was a car salesman. He sold cars. He owned a car dealership. I just want to make sure that we’re on the same page right off the get go. The guy owned a car dealership in the 1920s. He started a list of the cars that he wanted to buy. He wanted to get some extra inventory. She started a list with the prices that he wanted to pay for the cars that she wanted to get. He didn’t just go out and buy the cars. No, he had a list of cars with prices that he was willing to pay. That we have a Kelley Blue Book. That’s how Kelley Blue was started. Then Hailey becomes the GM of his car company and starts selling Kelley Blue books on the side just as a fun gig. Why not? And here’s the best part. And this on their Kelley Blue Book Web site, there’s actually a really amazing sentence. Every day line of cars waiting to be appraised, wines around the block. I just imagine this scenario. There’s a guy mowing the lawn and his neighbor pulling out from his driveway in the old car and. The guy that’s mowing the lawn is asking, hey, Bob, where are you going? What you’re up to?

And the Bob is like, well, I’m gonna sell my car. Awesome. You going to sell it to. I’m gonna sell it to Kelly. He offered me seven thousand dollars less than anybody else would have. What you’re going to sell your car to a guy that’s offering you seven thousand dollars less. Yeah, it’s amazing, isn’t it?

Later on, Kelly actually moves his dealership and becomes the largest. Used car dealership in the world. Think about this. The guy that’s appraising your car is not open market car appraiser. It’s not a fair market, guys. That compares all the cars that are what they’re selling for and what you should pay for a car and what you should sell your car for. No. The guy that’s appraising your car is a car dealership. Isn’t that amazing? Let’s move on. There’s more cool stuff to cover. Here’s the best part. Only a few years ago, AutoTrader bought Kelley Blue Book. You know what? AutoTrader does. They sell cars. Kind of cool, huh? So a few years ago, AutoTrader bought Kelley Blue Book. So if you’re not following me, I’m gonna make this really clear. AutoTrader, a car dealership. They sell cars. Kelley Blue Book Car Pricing Guide is owned by the car dealership. It would be like me asking for health advice from McDonald’s. How about me and McDonald’s will partner up to write a healthy eating guide for your kids? Wouldn’t that be amazing? Cheeseburger and large shake for breakfast. You got it, kid. Now let’s talk about cocks.

I’m sorry. What? I you know, I.

I thought we’re doing the the caucus thing for a different gig. No. Oh, Coxe Automotive. Now, you made him think. You made him think. Cox Cox Automotive. OK, so these guys are super important in this video. Here’s why. Because they own three of the most important car companies in the United States. First, Manheim car auctions. They sell cars. Number two. Order trader. They sell cars also. And number three. Kelley Blue Book. The Kelley Blue Book is owned by a company that sells cars and works with dealerships. How fair do you think your car pricing is going to be? Where do you think these car prices are coming from? If you were relying on Kelley Blue Book for car pricing, if you’re were relying on Kelley Blue Book for fair negotiation or on anything. I don’t know. I mean, Jesus, help me. Yes. That and the last questions I want to ask you is, do you think car dealerships. Have your best interests in their mind. If you said yes, then I have this picture for you. You said no. There is still hope. And humanity is not lost. This is Dan with 60 minute car. I’m signing out and I’ll see you on the Internet.