SOME OF THESE BOOKS HAVE UNREASONABLY HIGH OR LOW VALUES,AND SEEM TO EXIST FOR THE PURPOSE OF PUSHING THE DEAL ONE WAY OR THE OTHER IN A NEGOTIATION
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WITH THE EXCEPTION OF SPECIAL INTEREST/EXOTIC CARS,since there may be no other guide available;THESE BOOKS SHOULD BE GIVEN LITTLE WEIGHT!,AND PERSONS INSISTING ON USING THEM..taken with a grain of salt...to be polite!
THE MAINSTREAM "BOOKS" ARE,in no particular order;kelley blue book,nada,and edmunds,
RETAIL;also "list","full","manufacturers" ,This is what a dealer is supposed to be able to sell the car for off a traditional car lot.Some (okay everyone)thinks this price is too high,but keep in mind all of the extras (like warantees,state regulations,business expenses,sales commisions,advertising,preparation,etc.that must go into the price.Naturally most private individuals think they should get this value also when they sell there car.The truth is many dealers don't get this price and most private sellers don't either.
TRADE IN;also "WHOLESALE","dealer cost","auction".This figure,hated by consumers everywhere,is the value the auto dealer is supposed to give you on a trade in."That's All?!!!"is frequently heard after this number is spoken!.However It cuts two ways!:this number is also "wholesale",or all the car can be expected to be sold for, wholesale, at either a dealer car auction or directly to another dealer.The fact is; most vehicles traded in have"issues" and the dealer can't easily sell the car for the retail figure to another consumer without investing money in the car.If the dealer had to fix every car just to get his money back he would either go broke or stop taking trades.Do some cars sell for more or less than this figure on a wholesale basis? yes,because pure supply and demand for this specific car take over,since no finance considerations distort the value.This figure is also favored by many since it more closely approximates a marketplace set value.Since demand for the specific make/model set value many vehicles are not even selling for the "book" wholesale(or trade in..the same).Many American cars are presently in this category.Some cars bring more at wholesale(Honda Toyota etc.).In recent times the increase of Internet sales of cars has driven the price of cars sold at retail closer to the wholesale (remember "trade in"..the same)figure,so it has taken more significance.RETAIL;highest.LOAN;middle.TRADE IN:lowest
AUTO VALUE GUIDE ..BEFORE WE LOOK UP!!
CLEARING UP SOME CONFUSION AND SOME DEFINITION OF TERMS!
THERE ARE MANY DIFFERENT "VALUES" BANDIED ABOUT WHEN TALKING ABOUT A CAR'S VALUE!.WE'VE ALL HEARD THE PHRASE;"IT'S WORTH WHATEVER SOMEONE WILL GIVE YOU FOR IT".NO WHERE IS THAT MORE TRUE THAN IN THE AUTOMOTIVE WORLD !.CARS FREQUENTLY SELL FOR MORE OR LESS THAN"THE BOOK VALUE" DUE TO SUPPLY AND DEMAND REASONS,LIKE ANY MERCHANDISE IN THE FREE MARKET;INDEED IN SOME COUNTRIES THE AUTOMOBILE MARKET IS MANIPULATED BY GOVERNMENT REGULATION AND PRICES ARE NOT OPEN TO MARKET FORCES.ONE ISLAND NATIONS PRESIDENT DECIDED ONLY CHEVY CAPRICES COULD BE IMPORTED."LESS SPARE PARTS TO WORRY ABOUT".DO YOU THINK THESE SOLD FOR FAIR MARKET VALUE?!!....
BUT ONE OF THE MAIN SOURCES OF CONFUSION IS PEOPLE DON'T DISTINGUISH BETWEEN WHICH BOOK VALUE.LET ME TELL YOU THE DEALERS DO!.IS THERE CONFUSION ? YOU BET.DOES THAT BENEFIT THE PROS?,AND THE AUTO FINANCE INDUSTRY?.YUP......................
BUT ONLY IF YOU DON'T BOTHER TO KNOW THE TERMS!!!
THERE ARE A NUMBER OF DIFFERENT"BOOKS"
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BUT ONE OF THE MAIN SOURCES OF CONFUSION IS PEOPLE DON'T DISTINGUISH BETWEEN WHICH BOOK VALUE.LET ME TELL YOU THE DEALERS DO!.IS THERE CONFUSION ? YOU BET.DOES THAT BENEFIT THE PROS?,AND THE AUTO FINANCE INDUSTRY?.YUP......................
THERE ARE MANY DIFFERENT "VALUES" BANDIED ABOUT WHEN TALKING ABOUT A CAR'S VALUE!.WE'VE ALL HEARD THE PHRASE;"IT'S WORTH WHATEVER SOMEONE WILL GIVE YOU FOR IT".NO WHERE IS THAT MORE TRUE THAN IN THE AUTOMOTIVE WORLD !.CARS FREQUENTLY SELL FOR MORE OR LESS THAN"THE BOOK VALUE" DUE TO SUPPLY AND DEMAND REASONS,LIKE ANY MERCHANDISE IN THE FREE MARKET;INDEED IN SOME COUNTRIES THE AUTOMOBILE MARKET IS MANIPULATED BY GOVERNMENT REGULATION AND PRICES ARE NOT OPEN TO MARKET FORCES.ONE ISLAND NATIONS PRESIDENT DECIDED ONLY CHEVY CAPRICES COULD BE IMPORTED."LESS SPARE PARTS TO WORRY ABOUT".DO YOU THINK THESE SOLD FOR FAIR MARKET VALUE?!!....
CLEARING UP SOME CONFUSION AND SOME DEFINITION OF TERMS!
AUTO VALUE GUIDE ..BEFORE WE LOOK UP!!
BUT ONE OF THE MAIN SOURCES OF CONFUSION IS PEOPLE DON'T DISTINGUISH BETWEEN WHICH BOOK VALUE.LET ME TELL YOU THE DEALERS DO!.IS THERE CONFUSION ? YOU BET.DOES THAT BENEFIT THE PROS?,AND THE AUTO FINANCE INDUSTRY?.YUP......................
THERE ARE MANY DIFFERENT "VALUES" BANDIED ABOUT WHEN TALKING ABOUT A CAR'S VALUE!.WE'VE ALL HEARD THE PHRASE;"IT'S WORTH WHATEVER SOMEONE WILL GIVE YOU FOR IT".NO WHERE IS THAT MORE TRUE THAN IN THE AUTOMOTIVE WORLD !.CARS FREQUENTLY SELL FOR MORE OR LESS THAN"THE BOOK VALUE" DUE TO SUPPLY AND DEMAND REASONS,LIKE ANY MERCHANDISE IN THE FREE MARKET;INDEED IN SOME COUNTRIES THE AUTOMOBILE MARKET IS MANIPULATED BY GOVERNMENT REGULATION AND PRICES ARE NOT OPEN TO MARKET FORCES.ONE ISLAND NATIONS PRESIDENT DECIDED ONLY CHEVY CAPRICES COULD BE IMPORTED."LESS SPARE PARTS TO WORRY ABOUT".DO YOU THINK THESE SOLD FOR FAIR MARKET VALUE?!!....
