What Is a Blue Book?
The term "blue book" is generally used in the context of cars in reference to a comprehensive guidebook called the Kelley Blue Book. This is a book, and now a website, that details the value of vehicles in the United States. The book takes into consideration the make, model, year, mileage and more of new and used vehicles in order to determine the monetary worth. It has become a resource of vehicle sellers and buyers alike.
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History
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The Kelley Blue Book began in the early twentieth century. It is a product of the Kelley Car Company, based in Los Angeles, California. After pricing vehicles that came onto his car lot for several years, the company owner Les Kelley organized the values of the vehicles into a list. In 1918, he published this list as The Blue Book of Motor Car Vehicles. Within the pages of this book, he included factory list prices and the cash value of a large assortment of vehicles.
Significance
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The term "blue book value" has become a huge factor in establishing the monetary worth of vehicle values since 1918. Individuals in the market to buy a new vehicle will look to the Kelley Blue Book to get an idea of what they should expect to spend on a vehicle. Vehicle sellers will use the Kelley Blue Book to establish a fair price on their vehicle. The website for the Kelley Blue Book (see resources below) has expanded to include reviews on vehicles to better inform consumers.
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Function
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The function of the Kelley Blue Book is to establish a unified expression of a vehicle's worth. The Kelley Blue Book analyzes the make and model of vehicles, as well as the year the car was made, recall information, the condition of the vehicle and the mileage on a vehicle in order to help the reader determine cost. The Blue Book is not only limited to cars, the book also analyzes new and used motorcycles, RVs, mobile homes, snowmobiles and watercraft.
Benefits
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The benefit of using the Kelley Blue Book as a resource is that it will help vehicle buyers from paying too much for their vehicle. It also helps vehicle sellers from selling their product for too little money. As the website has expanded, so has the benefits for using the guide. It now includes valuable recall information, customer and expert reviews of vehicles, and even has a classified section that posts vehicles for sale directly from their site. This makes car buying and selling a one-stop shop for customers and sellers.
Trademark Information
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The use of the term "blue book" is commonly applied to other uses ranging from testing supplies, to aircraft value guidebooks. While there are different uses and connotations for the term blue book, the phrase "Blue Book" is trademarked by the Kelly Blue Book Company. This trademark is legally binding in the United States and Canada. Because of this, "Blue Book" has become a commonly used term in establishing the monetary value of motor vehicles.
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