Instead, Laser Appraiser enables dealerships with the perfect combination of appraisal and valuation tools, empowering the buyer for wholesaling used cars for maximum Return on Investment (RoI).īlack Book, Kelley Blue Book, and NADA guide books may be integrated into Laser Appraiser M obile and Laser Appraiser Dealer Studio. The bottom line is that there is no “perfect” guide book or process of appraising a used vehicle. And since most lenders use NADA, dealers tend to follow suit. NADA guides were the first to publish a LOAN value that helps lenders establish a baseline amount of credit to extend on a vehicle transaction. They also offer a consumer website that establishes transparency of the industry. Power Valuation Services) began in 1933 and has since been an industry leader in supplying LOAN and TRADE-IN values (among others) to dealers across the country. Coupling the strong consumer presence of KBB’s data with a wholesale value, such as Black Book for example, is a recipe for a dependable vehicle appraisal.įinally, NADA (J.D. In many cases, in order for these institutions to even begin the loan process, they must have a document showing KBB’s WHOLESALE LENDING and RETAIL values. On the West Coast, many financial institutions use Kelley Blue Book’s WHOLESALE LENDING value as the standard of what to loan on a particular vehicle. For that reason, it would be wise for a dealership to at least consider KBB’s RETAIL, TRADE-IN, and FAIR PURCHASE PRICE values on each vehicle they appraise. Kelley Blue Book was founded in 1926 and is the most recognizable guide to consumers and car buyers. However, when dealers are purchasing vehicles at auction (for inventory), Black Book’s WHOLESALE data is second-to-none. The Black Book is not as widely known as the. The Black Book is similar to price guides such as the Kelley Blue Book and NADA Guide, but it is less well-known.

The Black Book for motorcycles is a price guide that motorcycle dealers use to determine the resale and trade-in values for a motorcycle. For that reason, car buyers are not typically familiar with Black Book values and they may not trust a Black Book driven appraisal at a dealership. By Staff Writer Last Updated April 12, 2020. A leading provider since 1955, Black Book has continuously evolved to ensure that it achieves its goal of delivering mission-critical information to its customers, along with the data analytics necessary to successfully buy, sell, and lend.”īlack Book is exclusively geared towards dealers, wholesale buyers, and lenders, whether it is by website, smartphone application, or 3 rd party integrations.

Most dealers choose more than one guide book when appraising in order to make the most informed decision for their investments.Īccording to its website, “Black Book® is best known in the automotive industry for providing timely, independent, and accurate vehicle pricing information, and is available to industry-qualified users through online subscription products, mobile applications, and licensing agreements. Kelley Blue Book is heavily used on the West Coast, Black Book in the Southeast, and NADA is more widespread nationally due to its heavy dependency from financial institutions in regards to loan originations. Ask any used car dealer what the most accurate guide book is and you will likely get very different answers depending on what part of the country you are located in.

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