If you are thinking of trading in your faithful gas guzzler for a new car that gets better mileage don’t expect to get the Kelly Blue Book value for it. In fact, you’ll save yourself a lot of anxiety if you just forget there is such a thing as a Kelly Blue Book.

With gas costing over $4.00 a gallon and inching up towards $5.00, car dealers are throwing out the Kelly Blue Book. You’ll be lucky if you get even half of what you think you’ll get. Many dealers are offering a token amount for trade-ins, and immediately wholesaling their trade-ons because there is no demand.

I’ve heard of people trying to trade in a minivan and being offered $500.00 for a vehicle that should get $5,000 in trade-in. Dealers don’t want them because nobody wants to buy them. The only cars that dealers are interested in are ones that get high gas mileage. Got a truck or an SUV? You’ll probably get more from a scrap metal dealer than a car lot.

The biggest problem with the Kelly Blue Book is that it doesn’t take into consideration the demand for a vehicle. Sure, a year ago that truck may have been worth $5,000 but a year ago gas was only $3.00 a gallon. Now nobody wants to buy something that gets 14 miles to the gallon, so dealers aren’t willing to pay for them.

It doesn’t matter what the Kelly Blue Book says it’s worth. Just like anything else, it’s only worth as much as people are willing to pay. With high gas prices, people aren’t willing to pay that much for something that doesn’t get great mileage.

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