Do you want to assess a car’s value? If yes, NADA Guides is the best option for you. History of NADA Guides In 1917, a coalition of automobile dealers came together and petitioned the US Government to reduce the luxury tax on automobiles. After this petition was successful, the coalition formalized and an organization – the National Automobile Dealers Association (NADA) – was formed.
NADA Used Car Buying Guides
It is a common concept that buying a used car can be more complicated than buying a new car in term of criteria. In NADA, however, we think that buying both new and used car is not much different. The very first thing to do when you decide to buy a used car is to visit NADA purchasing guide and see the used car value in NADA.
The main problem of purchasing a used car is to find the reliable dealer or private seller. It requires your natural sense or intuition in finding the good one. Some dealers or sellers may try to sell a used car at unreasonably high price than its value. Though they claim to have checked the car thoroughly, you cannot simply be sure about that. However, the conventional doubt of purchasing used car has changed by NADA guide and Kelley Blue Book. Here we are going to elaborate the guide to find the best used-car value with NADA.
Car Prices in NADA
NADA stands for National Automotive Dealers Association, is a place which provides information of all used-car sales in the nation. The association represents over 19,700 new truck as well as car dealer all across the nation. As the national dealer, NADA also provides editors who will give a review for every actual car trading transaction every month. Through this way, NADA gathers the number or car prices. Numerous private dealers and sellers also rely their price on NADA. When purchasing a used-car, it is important to get the accurate value even though it does not mean that the car will be sold at its great price. However, it is always a good thing if you can have a solid base to work on.
Difference between KBB and NADA
Besides finding the value of the car, another important thing to consider when buying used-car is to compare between KBB and NADA guide. The car price on NADA is based on the auctioned and retail price as well as other sources. The editors in NADA review the price and quality information of the car in monthly basis.
Similar to NADA, the KBB also performs extensive research on the vehicle values. If NADA focuses on dealers and new cars, KBB has a different point of view which is based on the customers and used-cars. Hence, if you are going to buy certified used-car, there is no better place except NADA for better price and negotiation.
Why it has to be NADA? The main notion why you have to go with NADA is all about comparison. In certain times, the price of used car in NADA can be lower than KBB. When there is a price difference, there is certainly more advantage on the negotiating process.
The fact that purchasing used-car is way more complicated than buy a new car, but it does not have to be that way all the time. If it is very easy to find the new car, every used-car is unique for many reasons including mileage, condition, and even its history. The KBB and NADA highlight that certain condition into the calculations for each used-car. Other things they take into accounts in order to decide the price of the car are the transmission, power windows, cruise control, power door locks, alloy/ aluminum wheels, power sunroof, and the like. Now you can get a brief explanation on how KBB and NADA decide the price of the cars.
Guide in Using NADA to Decide the Used-Car Value
One important thing to note when you are using NADA is that there is no room for private sales. There are four main categories in NADA as the following:
• Average trade-in
• Rough trade-in
• Clean trade-in
• Clean retail
Each of the categories has its own pros and cons, but the clean retail has the most matches to the real NADA value based on the nationwide final sales prices.
Another consideration is that when your car has reach 100,000 miles or more, most dealers will not consider the price. This is mostly because they find it difficult to sell the car at the dealership. Then, these cars will directly send to auction. So, if you are going to trade your used-car, make sure to consider the mileage limit. In case it has reached the limit, it is better to sell it in private and you will get more money.
In NADA, we believe that purchasing a used-car is as easy as buying a new car. This is because you will have no difficulty in determining the price of the car based on its condition. NADA guide provides every information that you need from car evaluation to price comparison for easier purchasing process.
