NADAguides Frequently Asked Questions
Finance and Insurance
How does the insurance company use your values to value my car?
Sometimes insurance companies will use an outside source to help determine a value of a used vehicle such as Mitchell International, CCC or Audatex. Some insurance companies will use NADAguides in a total loss process. In this instance, they typically start with the clean retail value and then deduct for the condition of your vehicle before the total loss. That value less any deductible and depreciation will be your settlement. They use our mileage tables and will give you added value for miles less than average for your vehicle.
Are there any values that reflect a car's worth after being repaired from an accident?
There is no data to support a precise value loss for damage. Because those types of values are not available, NADAguides does not recognize a diminished value. The loss from damage depends on the severity of the damage repair, how good the repairs look, the age of the vehicle repaired and its class. Class means that a more expensive car when new will be affected more with damage than a lesser priced new vehicle. Damage on a Mercedes has a greater affect, than the same damage on a Chevrolet Lumina. It is always a good idea to take the car to a trusted body shop and ask their opinion, as well as your insurance company. Once you receive their input you can deduct an amount both agree on from an NADAguides value.
Is there any way to figure out the value of a vehicle based upon a special circumstance such as having "theft recovery" on the title?
If you are able to run a vehicle history report
, you might be able to learn a little more about the vehicle's history. Keep in mind that the newer the vehicle and the more expensive when new, the greater the effect of any damage. Make sure to ask the current owner to see the repair estimate or bill, that way you can see how the theft affects what had to be done.
My new car has been totaled and I feel that the adjustor may have valued my vehicle too low, what can I do?
The best place to start would be the window sticker if you still have it; this is your best discussion point with your adjustor. If you did not purchase the car brand new, most manufacturers can reproduce the original window label electronically. If you cannot obtain the window sticker at all, search for similar vehicles for sale. This can help you and the adjustor reach a fair settlement price.
What is a clear title or record mean? If my car has been in an accident, does this mean my car is salvaged?
Clear title does not have anything to do with damage on a vehicle. Clear title means there are no liens against the vehicle and nothing is owed on it. When you finance a vehicle
, you get what is called a memo title and your lender keeps the original title and files, with the court, and a lien on the vehicle allowing the lender the right to resell the vehicle if you default. When you make the final loan payment the lien is cancelled, you receive a clear title. A "total loss salvaged vehicle" is a vehicle that has been wrecked, destroyed or damaged to an extent that the registered owner, leasing company, financial institution or insurance company which insured the vehicle, considers it uneconomical to repair the vehicle and because of this, the vehicle is not repaired for the vehicle owner at the time of the event resulting in damage. Normally, this type of vehicle cannot be sold or transferred without first obtaining a Salvaged Title. Due to the many different ways a vehicle can be issued a salvaged title, we cannot determine an amount or percentage to deduct from a value. A vehicle can be stolen and recovered with no damage at all, but it would be given a salvaged title nonetheless. Because of this, questions should be directed to the registered owner, leasing company or financial institution. If you have questions, it's a good idea to check the history of a vehicle. A Vehicle History Report
can confirm a clean history or reveal potentially hidden problems.
Where can I find a loan value for used cars?
NADAguides.com does not provide vehicle Loan Values online. Lenders look at values and advances differently and they factor in the credit worthiness of the consumer as well. The loan value is an approximation of what a dealer might expect as an advance from a lender. This value is important in the secondary finance markets for customers with lower credit scores
. The competitiveness of the market will also play a part in a lender's decision on floor plan.
Would the branding of "fleet" or "taxicab" negatively affect the pricing of a vehicle?
It has been our experience that a brand of taxicab would negatively affect the value of a vehicle versus a non-taxicab. That dollar difference would depend on a number of issues including the type, age, and value of the vehicle population as a whole. For example, a ten year old Ford Crown Victoria taxicab would most likely not be as affected as a two year old Mercedes-Benz R Class versus their cohorts in the vehicle population. This would be despite the fact that both are used in taxicab fleets. That being said, we do not make an attempt to quantify that difference as a general rule. We could isolate all factors for each vehicle to determine what the impact would be, but the market for that kind of intelligence is just not cost-worthy for us to do. However, vehicle condition and history should be considered when determining a vehicle's value. Since the actual condition of individual vehicles varies greatly, users of NADAguides may need to make independent adjustments for a variety of condition-based factors not specifically accounted for by NADAguides.