NADA Guide Useless
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Elder User
Joined: Feb 2004
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From: outback
NADA Guide Useless
Is it just me or is the NADA guide a complete joke? Of course the market is what is the real price of a vehicle but Nada is almost always off by 50% or more than "real" pricing. One would be do better just picking numbers out of a hat than using nada.
Laughing Gas
Joined: May 2003
Posts: 1,136
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From: Scenic Wisconsin
I always laugh when somebody quotes kbb or nada when they list their inflated asking price for a rig. Those guides are only useful if you're trying to get your insurance company to cough up more cash for your totalled vehicle.
Tuned
Joined: May 2005
Posts: 331
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yeah, 90 percent of the time the prices are way to high, unless your selling a geo metro!! Blue book is like a grand, i sold my bros for him while he's in alaska for 2800 cash in a week- and he got a good deal. next guy to come allong would have paid my asking price- 3200.
Laughing Gas
Joined: May 2003
Posts: 1,136
Likes: 1
From: Scenic Wisconsin
Originally Posted by qman
My bank uses the NADA guide to determine loan values on vehicles. I don't think banks are in the business of blindly handing out cash based on over inflated values.
Banks don't want cars from loan defaults - they almost always lose money on them.
Tuned
Joined: May 2005
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Laughing Gas
Joined: May 2003
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From: Scenic Wisconsin
Originally Posted by dorkpunch
hey oppy, is your avatar from the movie "jack the giant killer"?
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Tuned
Joined: May 2005
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please no! it had to be the stupidest movie ive ever seen- father in law made all the kids watch it and we happened to be over... big mistake... the giant (your cyclops) was pretty cool besides the fact that it was a clay-mation and the people were regular people... really old movies are like that i guess...
Laughing Gas
Joined: May 2003
Posts: 1,136
Likes: 1
From: Scenic Wisconsin
Well, I did me some checking and I didn't come up with anything conclusive, but I did find one interesting factoid: the same guy did the special effects for both of those movies! Weird, huh? It's entirely possible he used basically the same model for both of them.
Elder User
Joined: Jul 2004
Posts: 920
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From: Westminster, Colorado
That was Ray Harryhousen......He was a "pioneer" of minitures and "stop animation" in the days before star wars and LucasArts....that was the way special effects were done then......I think one of his last film projects was "Clash of the Titans"
Sorry to go off topic!
Sorry to go off topic!
Cargo Master
Joined: Sep 2004
Posts: 2,691
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Originally Posted by oppy
They make loan decisions 99% based on your ability to pay them back, not what the item is worth. If you borrow more than the item is worth and pay off your loan, the bank makes more money.
Post Fiend
Joined: Sep 2004
Posts: 5,231
Likes: 1
From: Near Fresno, California
The problem is that both kbb and nada uses the selling price from new car dealers to set the prices - exceptional trucks, very well qualified buyers, and in-house financing.
Works OK on late model stuff, but falls apart on the vintage trucks. Just not enough sales to get a good average.
Works OK on late model stuff, but falls apart on the vintage trucks. Just not enough sales to get a good average.
Cargo Master
Joined: Sep 2004
Posts: 2,691
Likes: 6
That's probably right. If you think about it, auto dealers need used car values to go down so folks will pay new car prices. But they can only go down so much which is probably partly the reason new car prices are shooting up. NADA stands for National Automobile Dealers Association. It's an association of auto dealers setting the prices for everyone else. Hmmmmm.
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