Then there is the National Automotive Dealers Association or N.A.D.A. Kind of sounds like an authority doesn't it? If there is one true authority on what governs the car sales market it is this one. The values all around are to me the truest to what you will find out there. I believe this is largely due to it being the determining factor of how much a financial institution is going to loan you on a particular vehicle. When a financial institution is considering your loan they will want to see it booked out on NADA. Then there is what they refer to as "left-hand book." Just like it sounds. In an NADA book there is a column of dollar amounts on the left-hand side of the page all buy itself away from the trade and retail figures. This is called the loan value. Example: if a bank is determining if they can approve your loan and they are willing to let you borrow 120% of left-hand book. This is the figure they are referring to. That means they would loan you 20% over that loan value in NADA if need be. This is the book I usually favored because I found it to be the most realistic. Not to mention played a big role in the financial end of things. All around my favorite of all of the resources.
Thursday, September 8, 2011
Book Values - N.A.D.A.
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