08 September 2008
New NADA Categories for Trade-ins
Written by Ken Douglas ( 
)
Published on September 8th, 2008 @ 07:41:35 am, using 113 words, 112 views
)Published on September 8th, 2008 @ 07:41:35 am, using 113 words, 112 views
Categories: Industry News
With rising fuel prices and changing depreciation values of used cars, pre-owned car dealers have been having a tough time assigning values to trade-ins. Now the National Automobile Dealers Association has added two new categories for the wholesale vehicle market. The new categories are “Average” and “Rough” beyond the pre-existing “Clean Trade-In", “Clean Loan” and “Clean Retail” categories which used vehicles are put into.
According to NADA, roughly half of all trade-ins will fall into the newly established “Average” category. “Rough” vehicles are those which have more wear and tear than normal. Though these categories are for the wholesale market only it will help dealers in assigning more accurate value to your trade-in.
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