WELL WHAT IS BOOK VALUE??
value of a vehicle. The book value of a vehicle at any time is its cost
minus its accumulated depreciation. (Depreciation reflects the decrease
in the useful life of a vehicle due to use of the vehicle.) Companies
use book value to determine the point at which they have recovered the
cost of an asset.
common perception among Internet vehicle shoppers is that there are
better deals on the Internet. True, it is easier to apply for auto
financing and loan online from the comfort of your own home.
In reality, the biggest difference is
that the Internet vehicle shopper has access to loads of online
information about blue book values, and invoice prices that several
years ago were hard to find. These shoppers will usually want
a better deal because they possess that information,
especially if they are applying for credit or financing a loan.
Finding and buying a used cars, trucks and
vans doesn't have to be stressful. Gathering information online and
going to the dealer well prepared, will change the way you
view vehicle buying.
By going online, searching inventories of
dealers and then going there armed with the knowledge of what the
car is worth could save you much time. Keep in mind
a lot of dealers have been in business many years and they know
if someone is being honest with what they say the "book
value" of an auto is.
BLUE BOOK OR NADA GUIDES? WHICH IS BETTER?
using both manuals you are able to determine an accurate value for a
vehicle...Sometimes the kelly blue book lists a certain make and model
slightly higher than the NADA guide does. So by using both of
them to accurately gauge the book value, you find a happy medium that
is less biased and more accurate of the current market trends.
SO IS THE BOOK VALUE ANY DIFFERENT FOR
not really, the book value is always to be considered just a tool with
which to gauge the value of your current vehicle. By no means
should it be set in stone. Remember your car is only worth
what someone will pay for it right now or how much you will be willing
to finance it for. The kelly blue book and nada guides are
just that "guide lines" to be used to properly determine what your
vehicle, whether it's a motorcycle, truck, car or SUV is worth under
optimum value conditions.