When The Economy Changes, Consumers Turn to Used Vehicle Pricing Guides
California business owner Don Christy Jr. should perhaps be a little uneasy these days, with a sluggish economy threatening the nation and a nasty energy crisis plaguing his state. Surprisingly, Christy says he’s not worried -– at least not about the current state of the market. In fact, he claims that when the economy fluctuates, his business skyrockets.
Christy is the president and CEO of N.A.D.A. Appraisal Guides, the world’s largest publisher of appraisal guides for used vehicle values. For 68 years, the company has been publishing the trademark, bright yellow and blue guidebooks used by consumers, insurance companies, banks, lending institutions and government agencies across the nation.
Christy claims that when the economy heads south, consumers turn to the used car market and ultimately, used vehicle pricing information like N.A.D.A. Guides to try and offset the negative effects. And, he says, even in good times, his business reaps the benefits of increased buying, selling and trading in the vehicle market.
“Historically, our business fares well in a sluggish economy because people are more apt to consider used vehicles versus new,” Christy said. “Because of the increased interest in used vehicles, we see lots of consumers utilizing our guidebooks and our Web site to determine the fair market value of the vehicle they’re interested in buying.”
According to Christy, shoppers aren’t the only ones looking for a price advantage when it comes to souring economic times. He said industry professionals across the country also pick up the pace when it comes to vehicle value research.
“From an industry standpoint, we see an increase in usage by dealers, lending institutions and insurance representatives. By using pricing guides such as ours, professionals can assess the value of a trade-in, the amount of a loan, or the amount of insurance coverage based on the value of a particular vehicle. When money gets tight, business owners as well as consumers pay attention to every dollar,” Christy said.
Christy said the company’s current subscriber-base, as well as the increased consumer demand of their online pricing information at www.nadaguides.com, keeps the company’s nose to the grindstone and the orders pouring in.
“Our current hard-copy subscriber base calls for the distribution of over 5 million guidebooks a year,” Christy said. “We’re really pleased with the performance.”
Christy said the company is developing additional consumer and dealer tools while working harder than ever to meet the demand for its current roster of services.
N.A.D.A. Appraisal Guides provides realistic values for used cars and trucks, as well as vans, boats, RVs, motorcycles, yachts, luxury motor homes and airplanes.
To order the used vehicle value guidebook of your choice, (888) 232-6232, or visit www.nadaguides.com to research a price or to order a guidebook online.
About N.A.D.A. Appraisal Guides
N.A.D.A. Appraisal Guides is the world’s largest publisher of appraisal guides for used vehicle values, including cars, trucks, vans, classic and collectible cars, boats, RV’s, motorcycles, yachts, luxury motor homes and airplanes.
Nadaguides.com (www.nadaguides.com), launched in February 2000, provides value information for "anything that rolls, floats or flies." Nadaguides.com also provides vehicle value information to consumers who are interested in learning about the retail worth of a particular vehicle in today’s market.
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