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When it comes to determining the value of a classic car, one of the most trusted sources is the Kelley Blue Book. The Kelley Blue Book has been providing car values since 1926 and is a well-respected source in the automotive industry. This article will explore the various factors that influence classic car values and how the Kelley Blue Book determines these values.
What is a Classic Car?
Before delving into the factors that influence classic car values, it’s important to first define what a classic car is. According to the Classic Car Club of America, a classic car is a “fine” or “distinctive” automobile that was manufactured between 1915 and 1948. However, the term “classic car” can also refer to any car that is at least 20 years old and has historical or sentimental value.
Factors that Influence Classic Car Values
There are several factors that influence classic car values, including:
- Year, make, and model
- Condition of the car
- Mileage
- Rarity
- Popularity
- Historical significance
Each of these factors plays a role in determining the value of a classic car. For example, a rare car that is in excellent condition with low mileage will typically be worth more than a common car with high mileage and in poor condition.
How the Kelley Blue Book Determines Classic Car Values
The Kelley Blue Book uses a variety of sources to determine classic car values, including auction results, private sales, and dealer sales. They also take into account the factors mentioned above, as well as any modifications that have been made to the car.
The Kelley Blue Book provides three different values for classic cars:
- Excellent
- Good
- Fair
The “excellent” value is based on a car that is in pristine condition, while the “good” value is based on a car that is in good condition but may have some minor flaws. The “fair” value is based on a car that needs some work and may have some major flaws.
Examples of Classic Car Values
Here are some examples of classic car values as determined by the Kelley Blue Book:
- 1967 Chevrolet Camaro SS: $58,800 (excellent), $46,200 (good), $36,400 (fair)
- 1964 Ford Mustang: $36,900 (excellent), $28,200 (good), $19,400 (fair)
- 1955 Chevrolet Bel Air: $85,000 (excellent), $64,900 (good), $51,600 (fair)
It’s important to note that these values are just a guide and may vary depending on the specific car and its condition.
Conclusion
When it comes to determining the value of a classic car, the Kelley Blue Book is a trusted source in the automotive industry. By taking into account factors such as year, make, and model, condition, mileage, rarity, popularity, and historical significance, the Kelley Blue Book is able to provide accurate values for classic cars. However, it’s important to remember that these values are just a guide and may vary depending on the specific car and its condition.