Credit Union of Denver can assist you on how to established your vehicles general value by using several different gauges. The N.A.D.A book is the most widely used vehicle value guide in the mountain region. It gives the most market-reflective and trusted consumer vehicle pricing and information regarding Autos, Classic Cars, Boats, Motorcycles, and RVs.

Vehicle Value is largely reliant on what the market place will bear on that particular vehicle.

The true market value is defined as what someone is willing to pay for that item. Rules of thumb to consider for auto’s:
  • Age
  • Condition & Mileage
  • Rare or Common otherwise known as Supply and Demand
  • Market-ability – Check out autotrader.com to see how many vehicles like yours are for sale.

Age and Condition of any collateral are the key to finding the true value*. If, for instance, your car is in pristine, near new condition, low miles, the value may be slightly above the market value listed in the N.A.D.A. book. However, if your car is in normal wear and tear condition for its age, higher miles, needs tires, windshield and it runs okay, it might be slightly below the market value listed in the N.A.D.A. guide book.

Credit Union of Denver uses the N.A.D.A. guidelines to value the collateral that is being used for a loan request and as an estimate* when assisting members with their own vehicle. Since we are not the experts in car trade in’s, we can only give you a ball park to be in when considering trading in or selling your own vehicle.

 

When you are shopping for that perfect next auto, finding one that fits into lending and budget guidelines is an important first step. Our loan officers are only too happy to help look up the vehicle you are interested in to establish if that vehicle will fit into your ideal pricing. Give us a call, we are here to help!

Want to know how much car you can afford?  Use our free car calculator.

*This is a subjective area of expertise and we cannot guarantee what a piece of collateral is worth based on a sight unseen analysis.
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