NADA valuation help

[browneyes]

I am working on NADA's website to determine the value of our vehicles. I read in the sticky post to average the retail and wholesale. How do I get the wholesale value?? Is it the trade-in value?
Thanks for any help with this.

[IBroke]

Hi,

This thread might be interesting, too.

http://www.bkforum.com/showthread.php?t=34530

[browneyes]

Thanks for that, I did read that thread. Unfortunately, I am in the sticks and hundreds of miles away from a CarMax.

I wonder if they would consider a local dealer?

[optimistic1]

My district utilizes KBB Private Party Value. I dont see why it would make any sense to even try and use a retail value, but if thats what the sticky says, then I guess I cant argue.

[StartingOver08]

Use the value that is good for you if you do not know what your district uses. Let the Trustee say that you used the wrong value. If you go to a dealership and get an estimate per the other thread, even if it is not carmax, then let the Trustee challenge that value. They probably will not challenge a third party value from a legitimate dealer, IMHO.

[jeb]

I found that KBB was about 2 grand over Edmonds - from what I have seen, KBB is not keeping up with what the market is doing. - jb

[BnkrptcyLwyr]

KBB private party value is typically considered a fair valuation, and in keeping with the statute which requires that the condition of the car be taken into consideration. Full NADA retail value has nearly always been rejected by the courts because it assumes that the repairs are made to bring it up to excellent condition. Courts have found that KBB private party value is an acceptable value. Trade in value should not be used.

[kenshirley]

Today in the market any car or truck is only worth what someone is willing to pay for it at that moment.
I know many that got rid of their SUVs and trucks and found that they could not sell them for wholesale values according to KBB or NADA and these vehicles were very clean and low mileage too.
We traded off my wife's very low mileage (still in warranty too) F-150 for $4000 less than the wholesale book after failing to sell it ourself for 3 months. We were down to asking $3000 less than wholesale for it and only had 3 calls on it.
The other problem with valuation of course is that many are on the market and new car dealers and manufacturers have reduced prices and interest (if you can get a loan at all) on new and left over models to the point where later model stuff is just worthless.

[browneyes]

Thanks for all input on this. I will check out the private party values and talk to the attorney.