Your Questions About Boat Values Kelley Blue Book

Carol asks…

How can I find out book value of a camper?

Like they have a kelly blue book value for cars and boats, but I cant seem to find one on campers. It is a 2001 Jayco and is 39.5 feet long pull behind. thanks

admin answers:

Try the NADA website. They do have a Recreational Vehicle Appraisal guide that they up date 3 times per year. Kelley Blue Book also has a rec vehicle book but most lenders use NADA values. To be conservative and realisitic, use wholesale/trade value. FYI, I’m a credit analyst in the Recreational Finance division of a bank.

Chris asks…

My Mazda CX-7 was stolen, would it be sold for parts and what Blue Book value would my insurance give me?

On Monday night (10pm) my car was stolen. It’s now Wednesday afternoon and no news on where it is. I have two questions:

1) It is a 2007 Mazda CX-7 Grand Touring edition (Kelley Blue Book value is about $18500 +/-). In great condition, low low miles. Is this a car that is likely to be chopped up and sold for parts? It is all factory with no after market add-ons. Or is this a model that will be taken as far away as possible and sold? I’m just trying to figure out what the likeliness of finding it is.

2) If the car is not found, which Kelley Blue Book value will my insurance give me? I have full coverage through one of the larger companies (State Farm, All State etc….not Geico). The trade-in value is down around $14,800 and retail is $21,000. What will I likely get?

I would love to hear from an insurance agent or someone who has been in the same situation!!! Thanks :).

admin answers:

Is this a car that is likely to be chopped up and sold for parts? It is all factory with no after market add-ons. Or is this a model that will be taken as far away as possible and sold? I’m just trying to figure out what the likeliness of finding it is.

Hard to say. Some go to chop shops where parts are taken off and sold. Some go to Mexico and are driven, others are put on boats and sent to the European markets. The most time that passes, the less likely they are to find it. Those that are taken for joy rides are usually then abandoned and found within days.

If the car is not found, which Kelley Blue Book value will my insurance give me?

None. They will look at fair market value, not blue book. The average of what similar vehicles are selling for in your area.

It’s been two days for you. You are not likely to see resolution on this until at least 30 days have gone by. Your best source of information is going to be your insurance agent.

John asks…

How should I approach this ..I know I need a lawyer?

My car was parked and a drunk lady crashed into it, and totaled it. I am seeking advice on how I should approach this?
1) Claim was made with my car insurance company, and they said its a non fault collision ( thank goodness I had collision insurance)
2) police report was made..she was arrested on the spot for being drunk, and totaling my car out.
3) My car was declared totaled.
4) My car has been towed off I don’t even know where to.
5) I still owe 16k on my car but blue book value on my car is no where near the 16k I owe. ( 2007 toyota yaris 4door sedan in great condition if that helps..only had 11k miles on it..I bought it new in ’07) I am aware the car retails for less than 16k but you know that negative equity can kill ya when trading in another car you still owe on.
My real question lies here… most likely I will get blue book value for the car and still owe a crap load of money for my totaled car that I cant drive…what kind of lawyer should I get? What should I expect?
I have finally found a lawyer that gave me some pretty good advice. He won’t be needed, because I will get the blue book value and take her to small claims where I wont need a lawyer to get the rest of the money for my car loan..and for the record, gap insurance was going to be an extra 100$ a month for me ( as I had looked into it when I bought the car. so no I did not opt to get it.)

Thank you to thoes who actually gave me constructive advice.

admin answers:

A lawyer is not going to do you any good. He can’t change the value of your car. It’s worth what it’s worth. If the car was parked and unoccupied – there is no bodily injury claim – so no lawyer is going to take the case anyway. There is no money in it for them.

Besides — a lawyer is going to be paid 1/3 of any settlement you get. So – even if you found one to take your case – he’s going to get 1/3 of the value of your car – that just means less money to pay the note down with.

Now – about the total loss car — the insurance company owes you the Actual Cash Value of the car. That’s what you could have reasonably sold the car for just prior to the accident (given its year, make, model, options, mileage, condition).

The insurance company does not owe you the amount of your note.

Insurance companies have a few ways of valuing vehicles. If they use a book its the NADA (www.nadaguides.com) — NOT kelley blue book. So don’t waste your time checking kelley.

Insurance companies can also use market survey programs (such as CCC or Total Logic). These are usually going to give the most accurate value of the car as they are based on actual car sales in your specific area.

Did you purchase Gap coverage when you bought your car? Hopefully you did. If so, the Gap coverage should be able to step in and help with the short fall.

If you did not — and you have been a good customer – your finance company may be willing to take the short fall from this loan and roll it into the note for the next car. The down side is if something happens to the replacement car – you are in the exact same boat you are in now– owing more than the car is worth.

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