What is a Kelley Blue Book® Instant Cash Offer?
The Kelley Blue Book® Instant Cash Offer is a real offer for a specific amount to purchase a consumer's car or apply the amount toward another car. The Offer is valid for 7 days and can be immediately redeemed during business hours at Clement Auto Group, pending inspection. It is based on specific elements of the consumer's car, like installed options, specific condition (such as dents and mechanical issues) and local market demand.
How is my Instant Cash Offer calculated?
Your Instant Cash Offer is calculated using a proprietary tool that accounts for fluctuating market conditions and used car prices that may vary from day to day, like home or stock prices. The calculation includes multiple data sources and is based on factors that affect used car pricing such as:
Your Specific Vehicle Details - Our tool factors in details that are specific to your vehicle and critical to its evaluation, including mechanical condition, options, interior and exterior, mileage, year, make and model.
Supply and Demand - Consumers have a large role in determining a car's value. When more buyers demand a particular vehicle, and its inventory is down, the value goes up. For example, when gas prices are at a premium, fuel-efficient vehicles may be in higher demand and sell for higher prices.
Historical Trends - Historically, some cars hold their value and are in higher demand than others. Similarly, sometimes transaction prices for vehicles steadily increase over time, making those cars a more sought-after commodity.
Regional Differences - Buyers may be willing to pay sellers higher prices for the same vehicle depending on regional differences. For example, buyers in rural areas may consider large trucks more valuable than buyers in a city where parking spaces are tight.
Local Market Influences - We also take into account comparable vehicle sales in your area - this information may include dealer sales data, auction prices, and private seller prices from local advertisements.
Am I obligated to redeem my Instant Cash Offer?
No. There is no obligation to trade-in or sell your car by simply receiving an Offer. The choice is yours.
How is an Instant Cash Offer different from Trade-in Value Range?
The Kelley Blue Book® Instant Cash Offer is: A fixed offer applied toward your next car purchase or used to sell your current car to a Participating Dealer (pending inspection). Valid for 7 days. No need to negotiate because each offer is a fixed amount. Based on specific details related to the condition and features of your car, like installed options, dents, mechanical issues, and local market demand.
How much does it cost to receive an Instant Cash Offer?
It's free! There is no fee to obtain or redeem the Offer.
Do I have to purchase a car with my Instant Cash Offer?
No. You can walk away with a check in hand or use the Offer towards the purchase of another vehicle.
How long is my Instant Cash Offer valid for?
Your Instant Cash Offer is valid for 7 days. After that time, you can resubmit your request, but your Offer amount may change.
How long do I have to accept my Offer after inspection?
You'll have 1 day after inspection to redeem your Instant Cash Offer. If your car's condition changes or you add more than 50 miles from the time of inspection, your Offer may be recalculated.
How long will it take to receive my Instant Cash Offer?
You will typically receive an Offer within minutes. In some cases, it may take longer, such as during periods of heavy volume. The Instant Cash Offer program is not available for all makes and models, so if your vehicle falls into one of the unavailable categories, you will not receive an Offer.
What if the Participating Dealer I go to won't match the amount on my Instant Cash Offer?
Participating Dealers are required to honor your Instant Cash Offer, provided the information and condition you provided when creating your Offer are confirmed to be accurate by the Participating Dealer. If the information is not correct, the Participating Dealer can update the information using the same online tool you used to generate the Instant Cash Offer for your car, and the update may result in a modified Offer amount. So, the more details you enter about the condition of your car, the more accurate your Offer will be.
Why do offers fall out of Trade-in Value Range?
Most offers do fall within range. If they fall out of range, reasons include, but are not limited to, market volatility, rapid changes to the market, mechanical issues, excessive damage, reported issues, vehicle modifications, modified suspension, or the vehicle's specific condition.