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What are intrinsic values and why are they meaningful?

Why are NADA values so much lower than Kelley Blue Book Values?

  • I've got a 96 Honda Accord EX V-TEC Coupe. I was recently in an accident and it wasn't my fault. My car is probably going to be totaled. The KBB values are accurate as to what my car would sell for retail in my area. If the insurance company goes by this value I make out good. The NADA values are so out of range their comical. If insurance goes by these values I'm screwed and I'll be forced to buy a pos junk mobile. The crazy thing is, theres probably thousands of 96 Accords but there's only about 3 other 96 Honda Accord EX V-TEC Coupe's for sale in the entire country and the price ranges from $6k-9K which is in line with KBB values. The prob is there so far away and theres only 3 so I don't have much to base values on. Should I go to my local dealerships and ask them what they'd sell the car for so I have something to back me up?

  • Answer:

    KBB does not use any market value. They are a commercial website that sells advertising space and have absolutely no bearing in the true market place. This has been, and always will be the case. NADA has been around for a long time and is in business to estimate the true value of a vehicle. Banks, lenders, and dealerships trust the information from NADA as well as Black Book and don't even consider KBB as a source of vehicle value. KBB is very misleading and honestly does more harm than good when people look up the value of their trade in, only to find out that their car is worth hundreds, even thousands less than what KBB claimed their car to be valued. This is why a lot of dealership like to put the KBB price on the window next to their price because not even they can sell cars for what KBB claims. I hope this helps. Good luck.

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I can't answer your ? but I can totally agree with you,so if you find out the answer would you be so kind as to forward it to [email protected]. Thank you

matty

KBB is only gonna tell you what the car is worth by the condition, year, make and style. NADA is going to tell you what the car is worth including the market value. That's why dealers now use NADA. Or, to put it another way, NADA is much more realistic and in line with real life than KBB which is mostly pie in the sky.

oklatom

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