Typically a Little Black Book denotes social clout, secrecy and nuances of popularity. However, in the car business, black books, blue books and NADA reports disclose the dirty little secrets of the dealers. (Not really, but it sounded intriguing and kept you reading.) Actually, these bearers of private information disclose estimated vehicle values and two of these sources are available to the public.
NADA
This report is updated monthly by the National Automobile Dealers Association, a trade group of over 16,000 new car and truck dealers. NADA represents dealers, both foreign and domestic, in the media, general public and on Capitol Hill. The NADA report is compiled from information acquired from NADA's dealer members and boasts the largest database of vehicle transactions.
Many financial institutions use NADA to determine loan amount. So even if you don't base your vehicle value on the NADA guide, it's still a good resource to determine how much the bank is willing to lend for that vehicle.
Kelley Blue Book
Kelley Blue Book has gained considerable popularity over its 18 year history, due in part to its early online venture in 1995. When the web was just introduced, Kelley Blue Book launched www.KBB.com, making their insider information available to the public. According to Kelley Blue Book, their site currently serves well over 7 million users a month.
Kelley Blue Book acquires its information by attending auctions throughout the country, categorizing vehicle values according to Excellent, Good, Fair and Poor. Kelly Blue Book claims their vehicle evaluations are so comprehensive that they are applicable to dealerships nationwide.
Black Book
The exclusive little Black Book of the auto dealer may be hidden within the folds of his white suit. Watch carefully when his ringed fingers dip into his breast pocket. For once they emerge, their contents could contain your destiny. (Dramatic, I know, but you get the picture.)
The car dealer's elusive Black Book is not available to the general public. The vehicle values disclosed therein are for dealer eyes only. Updated daily, this resource garners market values from dealer auctions across the country and offers values for trade-in, retail and leasing, with a specialty in wholesale pricing.
