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BlackBook values; Car value research made easier. :)
Topic Started: Jan 6 2017, 03:50 PM (659 Views)
Demagogue
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So, my wife is shopping for a new (new to her but a couple year old) car. I used all of the usual suspects, Kelly, Edmunds, NADA etc. Most of those require you to go in an manually enter all the specifics of the car you are looking and while most of them will give you the trade in value and retail value most shy away from giving you a bank loan value which is the important part IMHO.

So then in my searching I ran into this. The first link is where I found the link to the second one.

https://www.thinkbank.com/black-book/

http://www.blackbookportals.com/bb/products/usedcarhtmlportal.asp?color=o&companyid=thinkbank.COM

The bottom line here is you enter you VIN and it pops out the value. It will already know the model and most of the options based just on VIN. You then tell it the mileage and you get a nice single page display with the retail value for rough, averave, clean and very clean with trade in values for rough, average, and clean. It also gives you in the middle there what the banks are willing to loan on that vehicle typically.

When banks suggest gap insurance it is because you have asked for a loan that is over that bank value.

Just a cool tool I found that I thought I would share. If you are like me and are searching through many, many cars it is much quicker to just be able to take the VIN and see the values rather than trying to enter all the relevant data on KBB or edmunds.
Edited by Demagogue, Jan 6 2017, 03:51 PM.
People sleep peacefully in their beds at night only because rough men stand ready to visit violence on those who would do them harm.
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estonianman
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Demagogue
Jan 6 2017, 03:50 PM
So, my wife is shopping for a new (new to her but a couple year old) car. I used all of the usual suspects, Kelly, Edmunds, NADA etc. Most of those require you to go in an manually enter all the specifics of the car you are looking and while most of them will give you the trade in value and retail value most shy away from giving you a bank loan value which is the important part IMHO.

So then in my searching I ran into this. The first link is where I found the link to the second one.

https://www.thinkbank.com/black-book/

http://www.blackbookportals.com/bb/products/usedcarhtmlportal.asp?color=o&companyid=thinkbank.COM

The bottom line here is you enter you VIN and it pops out the value. It will already know the model and most of the options based just on VIN. You then tell it the mileage and you get a nice single page display with the retail value for rough, averave, clean and very clean with trade in values for rough, average, and clean. It also gives you in the middle there what the banks are willing to loan on that vehicle typically.

When banks suggest gap insurance it is because you have asked for a loan that is over that bank value.

Just a cool tool I found that I thought I would share. If you are like me and are searching through many, many cars it is much quicker to just be able to take the VIN and see the values rather than trying to enter all the relevant data on KBB or edmunds.
Pro-tip though - guys in finance will try to sell you gap insurance even if you have positive equity.
"In Italy there are two types of fascists: fascists and anti-fascists." - Ennio Flaiano
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bomb 20

You are incorrect to think the VIN will add "most" of the options. That is only true of high end models that already include most options. If you're booking out an F150 for instance it will give model, engine, cab, and drive. Other than that, not much else.
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Demagogue
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bomb 20
Jan 6 2017, 06:58 PM
You are incorrect to think the VIN will add "most" of the options. That is only true of high end models that already include most options. If you're booking out an F150 for instance it will give model, engine, cab, and drive. Other than that, not much else.
Yeah, I was just saying that with the VIN it gave you all of the base information like engine and package groups. There are some options on most cars and on some as you said there will certainly be many. I have not tried it with a truck but I can say for certain that with mid size SUVs it works pretty good just leaving 5 or 6 common upgrades to verify. That is much quicker than going through the list of a hundred or so on KBB.

I'm sure it's not perfect but it is another tool to use to get where you want to go.

This helped me over the past couple days close in on the few vehicles in my area that fit what the wife wanted while still being financially sound purchases.
Edited by Demagogue, Jan 7 2017, 12:18 AM.
People sleep peacefully in their beds at night only because rough men stand ready to visit violence on those who would do them harm.
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