Quote:
Originally Posted by tvp2003
Tim (and Axel -- and anyone else who wants to chime in for that matter  ),
I'm just in the process of completing a private sale on a vehicle, which, assuming the inspection checks out as clean (everything else has), will be at a pretty good discount off of "book value".
My question is -- what is the "going rate" for used cars vis-a-vis "book value" these days? I'm just curious as everyone I've talked to says "it's a great time to buy a car" because of the recession and everything -- any tangible numbers or other anecdotal information you can share? |
great question.]
my partner and I were at the Adesa Auction in Edmonton last weekend.
We found that there is no rhyme or reason to anything that is selling through there, as far as price is concerned.
In reference to the black book...you might as well take the book and throw it out. some vehicles are bang on. some are so over the black book, its not even funny.
We have gotten to a point when we buy vehicles now, that we will guage them by the amount of bidding thats going on. Obviously the popular ones are going higher than black book and the not so popular ones are going well below black book.
If we think we can sell it, we'll buy it. Obviously we are still learning too but its a really unique time to be in the business.
Black book....schmack book. Right now, at bare minimum its a guideline only.
I find that Canada trader is a better guage for determining vehicle value.