Kelley Blue Book’s 5-Year Cost to Own data was previously only available on KBB.com.
Now, the data — which considers depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees for new vehicles — is available for syndication via API.
Kelley Blue Book says customers can now integrate the information “within their own website experiences,” which the company says helps consumers be more informed about the total ownership cost picture of the new vehicles they are thinking about purchasing.
The company develops its Kelley Blue Book 5-Year Cost to Own information using Kelley Blue Book Residual Values to calculate depreciation costs.
Kelley Blue Book applies what it describes as a “sophisticated valuation methodology” to calculate total ownership costs for new vehicles, and it also applies important financial data from third-party providers.
The company also uses the data each year to announce the winners of it 5-Year Cost to Own Award. The award honors the new vehicles and brands with the lowest projected ownership costs.
The data is available now to OEM, dealer, website publisher and auto industry product developers.
Kelley Blue Book senior director of syndication Damon Bennett said that with Kelley Blue Book’s 5-Year Cost to Own breaking down typical ownership costs, consumers can evaluate the out-of-pocket expenses they will incur beyond simply a new car’s initial purchase price.
“Given the extensive data insights available across Cox Automotive, we are excited our customers now can leverage another industry-leading product within our syndication portfolio that offers valuable information to help smooth the car-buying process for consumers and dealers alike,” Bennett said in a news release.