what you think ?

Question

what do you think ...kelly blue book or similar others are may have indirect links to insurance industry to rip off consumers in case of get paid less for total loss of cars by insurance companies ?

Answer 1

Most car dealerships, insurance companies, loan companies and so on don’t use the “Kelly Blue Book” They use a guide book commonly referred to as NADA (National Auto Dealers Association). This book has no ties or associations to the Insurance Industry other than they may use the book for valuation of automobiles.

In the event of a total loss the insurance company will use the same factors as what the NADA has established in order to put a value on the loss. These include factors such as city or region (yes the value of an auto can change from city to city, region to region), mileage, condition of vehicle before loss, factory equipment (the higher the package grade the greater the value) and so on. Once these factors have been determined prices fall into a couple of categories. Retail Value, Loan Value, Mid-Market Value and finally Wholesale value which just so happens to be what many Insurance companies use. So no there is no great conspiracy to "rip off" the insured it’s just all actuaries.

Hope this helped, take care.

Answer 2

Please. Sometimes im amazed by how much value NADA (which is what most insurance companies used contrary to kelly blue book as people believe) gives some POS vehicles. I see your Just another person who think "everyone in out to get them."

Answer 3

Congratulations. I thought I had heard all the conspiracy theories being bandied about by crackpots, but yours is one I have never heard before.

2 points for originality.

Answer 4

I think you should sell your conspiracy theories somewhere else.

Answer 5

You are a total moron.