NADA Guides, How accurate

Something we should ALL be interested in

In my multi year quest to become a 348 owner, I tried very hard to "feel" the market in the attempt to obtain my dream at the lowest possible cost. That is to say, I justified the costs by fooling myself into believing it was an "investment" knowing full well that the operational and maintenance costs make that prospect near laughable. Early in 2007, my senses told me that the 348 was near full depreciation and value should remain relatively flat for some period of time. That was the indicator I needed to move forward with my plans to go out and find the "perfect" car.

When I bought my car earlier this year, I accessed many sources to determine fair market value. One of those was the NADA guide. I printed a copy of that document and keep it with my Ferrari file. I saved the web page in my favorites and check it again from time to time. It had remained unchanged as I had expected.

I just checked the NADA website again and found to my wonder and amazement that the 348 SS has not laid flat in value as expected but rather has appreciated near 10% since mid 2007.

Before I go touting my senses and break my arm patting myself on the back...Are any of you aware of this apparent upward trend in the market? Is it real?

I guess its real enough, my insurance policy states they will pay NADA book value if something terrible happens.

 

My personal opinion is that NADA values are WAY off.

You're better off using Cars.com or autotrader.com

 

OK..let me be more accurate. I guess I don't need to know how accurate they are. Insurance companies regularly use these documents to assess values for coverages. Perhaps they don'y portray the market value very well at all, but considering that they do represent someone's perspective of value, if they go up 10% shouldn't all assessors value increase proportionately?

More over...should we all re-assess our insurance coverages since the insurance assessment source indicates an increase in value

 

NADA is usually incorrect when it involves cars that are a bit more popular than others.

In some other cases, they are pretty close

 

Yeah, I'd agree with the general thought here. First, there are far too few SS transactions to really project a decent value from year to year. If anything, the data tends to be data point to point, which is hardly a trend. When plugzit bought his SS race car for under $40K, how does this figure in? What if it sells for something north of $40K?

Trending low volume models within a large model data set is pretty tough on a gross basis. But, you probably are correct on your general feeling however that the car has appreciated, but I am biased.

 

I'm fighting the NADA battle right now. My lender is giving me fits about 355 values and what NADA is saying. I can't understand it since NADA is higher. But then I usually can't understand bankers logic anyway. (No insult for those in the business!!!!) At least I don't have this fight with the planes.

 

Here are some details regarding what dollar amount a bank will "loan" on a 355 from 95-99.
I don't know what model you are looking at purchasing, so here is the scoop on all.
Sorry the columns don't line up, but I had put the loan amounts "bold."
These are the numbers that lenders usually go by. From what I am aware of


1995 FERRARI F355 Dsp/HP Eng Fair Good Exc Show Loan
BERLINETTA CPE (3,938 m) 1994-993.5/375 V8 57,00065,000 72,000 58,500
SPIDER (2,663 mfd) 1995-99 78,00090,000 96,000 105,000 81,000

1996 FERRARI F355 Dsp/HP Eng Fair Good Exc Show Loan
BERLINETTA CPE (3,938 m) 1994-99 3.5/375 V8 57,000 65,000 72,000 83,000 58,500
GTS TARGA (2,048 mfd) 1996-99 3.5/375 V8 58,000 73,000 80,000 90,000 68,000
SPIDER (2,663 mfd) 1995-99 3.5/375 V8 78,000 90,000 96,000 105,000 81,000

97-99 are similar (nearly identical) to 96 model year.