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I have used KBB to value vehicles but would like to get a second and third value. This is not to dispose of these vehicles. What other sources available online to value them? Is KBB a good source which produces good middle of the range values or lower side or higher? I do not know the model and equipment options on each vehicle but hav mileage and model year. These vehicles sit outside in the weather year around does that make a difference in which source to use? Is the value of a leased vehicle different than the owned ones even though the exercise asks me to value leased equipment too?
A vehicke has x amount of value regardless of it’s owned leased or has a loan. Rare one of a kind collectible type of cars need to be appraised. Run of the mill cars kbb or edmunds is good enough.
Isn't model number, options, etc. a large part of the value? Not understanding this question.
If you look at the itemized listing on options they really give very little value to the options once you go beyond the standard package. A loaded model might be worth slightly more. Usually what gives vehicles additional value is engine size and transmission choice and 4WD/AWD and convenience packages. (But most cars today come with automatics, AC, power windows and locks basic convenience so that’s not as big a deal as it used to be). Someone may pay more for a rare exterior /interior color combo maybe a tech package if you wait for the right buyer. Funny is someone may pay more today for a standard over a automatic trans.
I have used KBB to value vehicles but would like to get a second and third value. This is not to dispose of these vehicles. What other sources available online to value them? Is KBB a good source which produces good middle of the range values or lower side or higher? I do not know the model and equipment options on each vehicle but hav mileage and model year. These vehicles sit outside in the weather year around does that make a difference in which source to use? Is the value of a leased vehicle different than the owned ones even though the exercise asks me to value leased equipment too?
Thanks in advance
I think you need to be a little more specific in what you're trying to determine. Is this for insurance purposes, as in how much fire/theft coverage you need for a car collection, or as somebody already mentioned, for tax purposes, or, God forbid, your wife is leaving you, and her attorney wants to know your net worth, and the cars might be included.....you know, reasons like that. I say that because you would use different valuation, depending on the need.
Take it to Carmax! They will give you a figure that it is worth it to them, then look at it with the other figures you have and see how they compare.
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