Posted Friday, June 10, 2022
There are several “book values” that may help used car owners when they need an accurate estimate for their vehicles. The term Black Book Car Value originates from the days when the cost of used cars was printed on paper. Black Book car value focuses on core data points that help dealers and lenders identify potentially profitable, low-risk vehicles. The price data includes an in-depth statistical analysis that makes it easy to understand current and time-sensitive fluctuations in historical valuations, providing reliable forecasts of value and potential risk.
You may find the Black Book in online searches, and you’ve likely heard dealers in Indianapolis mention them. But is this source a great help for an ordinary car buyer?
Here at Indy Auto Man, we tend to get references from the Kelley Blue Book when estimating the vehicles. Read further to find out what is special about the Black Book car estimation.
The driving force behind the Black Book appraisal process is an understanding of the factors that influence the automotive market as a whole and those that help establish a vehicle’s unique value. It includes important data such as:
In addition to these key attributes, Black Book values are also influenced by industry trends, norms and depreciation curves, and future projections. These forward-looking statements distinguish Black Book Values in that they provide current pricing information and show how a particular vehicle will be evaluated in the future.
When evaluating residual value, companies consider such factors as model and design changes over the years, historical understanding of the manufacturer or market performance of the model, and economic factors. Analyzing this data allows dealers and lenders to manage and better calculate credit and inventory risk.
Black Book Values provides current vehicle values and predictive forecasts. It is uniquely positioned as a one-stop-shop for businesses that need to accurately manage and assess inventory and credit risk.
If you belong to the category of wholesale commissioners, then here you can get the subscription to the Black Book Values. And for retail customers, Indy Auto Man can offer a better option. Visit our appraisal page to get our firm offer based on the KBB value.