Finding the value of your used car with the NADA blue book
So you are considering either buying or selling your car in the current market. Obviously, dependent on which side of the transaction you are on, you either want to be paying less than the market value, or obtaining more than the market value as a seller. Whichever side of the transaction you are on, you can feel a lot more confident that you obtained some form of value if you compare the costs to the average amount that buyers and sellers are paying for the same model, manufacturer and year model of your car. However, finding the correct value of the vehicle in question can prove difficult and problematic. There are a number of guides to used car prices around, including the Edmunds Guide, and the Kelly Blue Book for cars, but the undisputed leader in this field has got to be the National Automobile Dealers Association (NADA) guide, or the so called Nada Blue Book.
Obviously each book can differ in terms of its assessment methodology, but the NADA Blue Book provides details and info like new and used car private party and detail retail values, trade-in values, and tips on how to buy, sell or trade in your car.
Why use the NADA Blue Book
A major aspect to choose the NADA Blue book is the reliability and experience of the market. You should also consider the completeness and accuracy of the information, and whether the information is available in paperback format, like the NADA Blue Book. The NADA car consumer guide is updated 4 times a year and the online data is updated monthly. Obviously when you are looking for car values, you expect reliability in the values provided. Many experts would tell you that the most accurate car price guide is one that gives vehicle values closest to the actual “selling price” in the market, which actually varies day-to-day and place to place. However, an average, median car price will at least give you a base from which to work. The NADA Blue book also provides the most accurate value based on the analysis of your car’s present condition.
So when looking for the closest estimate, it is a known fact that the NADA Blue Book has always been the industry leader and industry standard in car appraisal services.
History of the NADA Blue book
The NADA Blue book and related guides have been in existence since around the 1930s, and have become the industry leader in offering a guide to car dealers to determine the value of used cars. The NADA blue book provides vehicle information to the majority of credit unions and banks, as well as other dealers and financial institutions.