A new online tool by Kelley Blue Book lets car owners keep track of the value of their vehicles.
The "Follow This Car" feature has the ability to track up to five cars. Users are notified by e-mail when a specified vehicle's value changes by at least 2 percent.
The tool gives car sellers the latest valuation information to help them get the best deals. It also can help car insurance customers keep track of their vehicles' value in case they ever suffer a total loss. Collision and comprehensive car insurance pay the market value of a vehicle that is damaged beyond repair. Collision covers damage from traffic accidents, and comprehensive covers damage from other causes, such as natural disasters and vandalism.
Many consumers drop collision and comprehensive coverage to save money on car insurance rates once their cars lose most of their value. Accurate information about values can help consumers weigh that decision.
To access the new feature on the Kelley Blue Book website, consumers can research "What's my current car worth?" from the home page, and select the appropriate year, make and model to determine current value. The values page includes a link to sign up to receive alerts for changes in values. A notification e-mail will be sent when values for specified models move up or down by 2 percent or more.
Kelley Blue Book, headquartered in Irvine, Calif., provides new and used car valuation and information to consumers, automobile manufacturers, insurance companies, car dealers and government agencies.