ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Kelley Blue Book (KBB)
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Underwriter’s Laboratories (UL)
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Better Business Bureau (BBB)
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American Auto Association (AAA)
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Detailed explanation-1: -Let’s say you bought a car. Its original cost was $20, 000, and depreciation expenses equal $5, 000. The book value of your car would be $15, 000 ($20, 000 – $5, 000).
Detailed explanation-2: -The best ways to determine a car’s worth is by using valuation guides like Kelley Blue Book and looking at live prices online and at dealerships. It’s vital to know a car’s value before you start any transaction to sell, trade in, buy or refinance a vehicle.
Detailed explanation-3: -Kelley Blue Book® Suggested Retail Value. The value that is representative of dealers’ asking prices for a used car. A starting point for negotiation between a consumer and a dealer.
Detailed explanation-4: -The NADA value determines the worth of your used car, which considers numerous value criteria. The NADA recommendations provide valuations for manufactured homes, boats, RVs, motorcycles, and even motorcycles. Multiple values are provided for each vehicle in the NADA guidelines.