Forum Discussion
Bruce_Brown
Aug 29, 2017Moderator
True. Years ago a friend of mine, who was the GM at a local car dealership, used to say "books don't sell cars, people do". He was right.
On the book price, I think you'll find NADA uses a formula to determine values as much, or more, than true market surveys. In the automotive world most dealers now use real-time auction information instead of NADA. I recently had a car evaluated; they used an app that read my VIN, they punched in my miles, then it did a search for similar vehicles with similar miles and gave a true up-to-date value. It was pretty interesting to me.
On the book price, I think you'll find NADA uses a formula to determine values as much, or more, than true market surveys. In the automotive world most dealers now use real-time auction information instead of NADA. I recently had a car evaluated; they used an app that read my VIN, they punched in my miles, then it did a search for similar vehicles with similar miles and gave a true up-to-date value. It was pretty interesting to me.
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