What is the value of a 2019 Mustang once it is driven off the lot?

[armsdealer]

I have a 2019 Mustang Premium PP2 with a Whipple Gen 5 Stage 1 installed. I just had the car appraised by a reputable appraisal service to determine loos of value on the car since it was hit 16 hours after I picked up the car. So I can give you the value they came up with if the car was not wrecked.

Ouch.

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[pctek]

Due to the huge discrepancy of pre-purchase (sticker price) and after purchase KBB value, insurance companies start setting the vehicles value based on the sticker price, but the minute we file a claim, they use KBB to value the vehicle and how much they will pay out. Yet, they don't lower our insurance rate based on the "lower KBB value". There should be a law that regulates insurance companies to only be able to charge us what the vehicle's current market value.

 

[Cobra Jet]

Due to the huge discrepancy of pre-purchase (sticker price) and after purchase KBB value, insurance companies start setting the vehicles value based on the sticker price, but the minute we file a claim, they use KBB to value the vehicle and how much they will pay out. Yet, they don't lower our insurance rate based on the "lower KBB value". There should be a law that regulates insurance companies to only be able to charge us what the vehicle's current market value.

False.

When there is a total loss claim, the Insurance Industry does not use KBB, Edmunds, NADA, or any other type of vehicle pricing guide at all. The Insurance Industry, Auto Body Industry, Salvage Industry, Auction Industry and the Automotive Financial sector uses a Black Book and a Red Book for determining such values. These books are usually not available to the public, they are subscription based and require a registered business to obtain. The books contain current vehicle used/new values, depreciation values, loan values as well as vehicle ACV values. The Black Book is also compiled by region (ie: State specific).

The “ACV” is often referred to as either Actual Cash Value OR Actual Crash Value. This is what the Insurance Co. will “payout” to the consumer. If you have ever had a total loss claim AND bought back the wrecked vehicle, the Ins. Co. will usually deduct an “ACV” figure from their payout, which is the scrap value that the Salvage Industry would pay the Ins. Co. at auction.

Black Book:
https://www.blackbook.com/

https://www.hearst.com/business-media/black-book

This site purportedly claims the results from your search is from the Black Book; there’s no way to fully determine if their results is true or not. You can skip inserting a VIN and drill down by entering vehicle info (year, make, model, etc)
https://www.thinkbank.com/black-book/

Red Book info:
https://www.vehicleremarket.com/78213/automobile-red-book-goes-online1

KBB, Edmunds, NADA and any other like publications are consumer based, whereas the Black Book and Red Book are Dealer/Financial/Auto/Insurance Industry based. With that said, there is a gap between the Consumer and Dealer/Financial/Auto/Insurance Industry vehicle values.

Simply stated, everyone has to make $$$ so what you ‘think’ may be a good deal on XYZ for trade-in based on KBB or similar consumer based publications, there’s still more $$$ to be had for the next player in line.

 

[Zooks527]

I'm reminded of the time my son went to sell his BMX bike after deciding he wanted another one. All offers were under $100. After he protested that he'd put a few hundred dollars in upgrades into it beyond the initial purchase price, he understood the comment that "something is worth only what someone will pay for it".

That said, dealer trade-in is one of the lowest numbers you'll see. You can get a more general version of "what is it worth?" by talking it to a CarMax dealership and having them make you a cash offer. They were a good deal above what dealers were initially offering for my wife's 2011 Subaru when she upgraded her car this summer.

My personal opinion, based on never seeing the car? 25% minimum off MSRP, less some margin for the dealer to make a profit, and then some more off for it having a supercharger. From a buyer's perspective, I don't really put any value into aftermarket items, and something that's had performance upgrades added loses money in my mind, as I assume it's been run hard and put up wet.

 

[Jmtoast]

This isn’t a GT issue this is a car issue. How do you not know this?

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