WHAT EXACTLY IS A BOOK VALUE?
the vehicle’s present value, which is the cost minus the accrued
devaluation (devaluation meaning the drop in a vehicle’s useful life
because of its use. Companies will use the book value to come up with a
price that recovers the cost of the vehicle.
people who shop on the Internet for their vehicles feel they are better
deals to be had. For the most part, they are right. It’s much easier to
apply and get an auto loan through the Internet. However, reality in
this thinking is that Internet vehicle shoppers can get lots of
information about the vehicle blue book values and hard to find invoice
prices from years before. Oftentimes, these shoppers can get a better
deal because of the knowledge they possess especially when they’re
trying to get an auto loan.
doesn’t have to be a stressful time – buying a vehicle. All you need to
do is some your research and go to the dealership prepared to make the
whole experience much better for you. When you do this, you save
yourself a lot of time and grief. Plus, most dealers who have been in
business for many years will know when someone is telling them the
truth about knowing a vehicle’s book value.
SHOULD YOU USE NADA OR KELLY BLUE BOOK’S GUIDELINES
might be wondering which book you need to look at when determining what
a vehicle’s actual value is. Well, the best idea is to use both. The
KBB book will list vehicle’s makes and models a little higher than what
you see in the NADA book. So, using both means you can get a less
biased and better feeling for the present market trends.
important to note that the book value is only a tool to determine what
your present vehicle’s value is. It’s not set completely in stone. Your
car is only worth what somebody wants to pay for it right now or how
much you want to finance the vehicle for. Both books are just
guidelines to help you accurately figure out the price of your vehicle;
it doesn’t matter what kind of vehicle it is.