Kelly Blue Book Buyer#
In front of you are two people interested in selling their Toyota Camry’s. Below are the prices your team have estimated as the likely resale price for cars from different years, with different mileages, and in different conditions. These numbers are obviously not the exact models one gets if you go to Kelly Blue Book, but for the purpose of this exercise, you may assume that these are the output of a highly-refined machine learning algorithm.
Ask the two people selling used cars about their cars’ condition, model year, and mileage. They should have all this information on hand, including the car’s condition (which they determined by filling out the questionnaire on the Kelly Bluebook website).
Offer them a price for their car. Use the tables below to figure out the likely value of the car, then subtract 10% from the price to make your offer (so you can make a profit when you sell the car).
Good Condition#
“Good condition means the vehicle is free of any major defects. Clean title history, paint/body/interior have only minor blemishes, no major mechanical problems, little or no rust, tires match with substantial tread remaining.”
Model Year |
25,000 mi |
50,000 mi |
75,000 mi |
100,000 mi |
125,000 mi |
|---|---|---|---|---|---|
2026 |
$27,500 |
$25,000 |
$23,000 |
$21,000 |
$19,000 |
2024 |
$24,500 |
$22,500 |
$20,500 |
$18,500 |
$16,500 |
2022 |
$22,000 |
$20,000 |
$18,000 |
$16,000 |
$14,000 |
2020 |
$19,500 |
$17,500 |
$15,500 |
$13,500 |
$11,500 |
2018 |
$17,000 |
$15,000 |
$13,000 |
$11,000 |
$9,500 |
2016 |
$14,500 |
$12,500 |
$10,500 |
$9,000 |
$7,500 |
Fair Condition#
“Fair condition means the vehicle has some repairable cosmetic defects and/or mechanical problems, but is still in reasonable running condition. The vehicle may need some work and reconditioning. Clean title history, no major rust, but may have some body damage or mechanical issues that need attention.”
Model Year |
25,000 mi |
50,000 mi |
75,000 mi |
100,000 mi |
125,000 mi |
|---|---|---|---|---|---|
2026 |
$25,500 |
$23,000 |
$21,000 |
$19,000 |
$17,000 |
2024 |
$22,500 |
$20,500 |
$18,500 |
$16,500 |
$14,500 |
2022 |
$20,000 |
$18,000 |
$16,000 |
$14,000 |
$12,000 |
2020 |
$17,500 |
$15,500 |
$13,500 |
$11,500 |
$9,500 |
2018 |
$15,000 |
$13,000 |
$11,000 |
$9,500 |
$8,000 |
2016 |
$12,500 |
$10,500 |
$8,500 |
$7,500 |
$6,000 |
Poor Condition#
“Poor condition means the vehicle has severe mechanical and/or cosmetic problems and may be in need of serious repair and/or reconditioning. The vehicle may have significant rust, frame damage, or major mechanical issues. It may only be suitable for parts.”
Model Year |
25,000 mi |
50,000 mi |
75,000 mi |
100,000 mi |
125,000 mi |
|---|---|---|---|---|---|
2026 |
$23,000 |
$20,500 |
$18,500 |
$16,500 |
$14,500 |
2024 |
$20,000 |
$18,000 |
$16,000 |
$14,000 |
$12,000 |
2022 |
$17,500 |
$15,500 |
$13,500 |
$11,500 |
$9,500 |
2020 |
$15,000 |
$13,000 |
$11,000 |
$9,000 |
$7,500 |
2018 |
$12,500 |
$10,500 |
$8,500 |
$7,000 |
$6,000 |
2016 |
$10,000 |
$8,000 |
$6,500 |
$5,500 |
$4,500 |