Is The Black Book Overhyped?
Oddly enough, many car buyers put a lot of stock in the auto black book, but there is more to cars than black book value. I should know. I am a used car salesman, which means that I make my living honestly appraising and selling cars for their value. It is important to know the automotive black book rate, but that isn't although there is to it.
Depending on how well you care for your car, what repairs and modifications you make, and even what climate you live in, the auto black book value can be way off. The car can be worth half of what it should be, or worth twice the book value. It all depends. Auto black book is a good estimate, but it is only that. People look at the automotive black book like it is the holy Bible. If they can find a car that is 300 dollars under the auto Black book value, they think they have gotten a deal. If they find it car that is just a couple hundred dollars over it, they won't even consider it.
What they don't realize is that the more expensive car might be more expensive for a reason. No matter what the auto Black book says, if you change your oil frequently, drive your car carefully and slowly, and live in a climate without harsh winters, it may well be worth more than the listed used car value. Similarly, a fairly new car can be so worn down that the auto Black book value is a joke. It will be worth barely a fraction of what the book says it is worth.
Even if it looks good on the outside, it will be worn out on the inside.Honestly, the auto black book value is a good place to start looking, but it is not the whole story. Only a competent and qualified mechanic can tell you the real facts about the car that you are looking at. Auto black book, after all, tells you how likely a particular make is to keep it's value and continue running, but it doesn't tell you anything about any particular car.
Only a detailed inspection, both inside and out, can determine that. I don't mean that you should look at it carefully. I mean that you should have a mechanic check out the engine, the wheels, the shocks, the brake pads, and all of the other important parts.