KBB and NADA prices on our used vehicle going up?

[Lindsay]

Last month, I printed out the Kelly Blue Book and Nada Values for our 2004 vehicle. It was worth a little over $17,000. Now I checked them today and they have upped the value of our vehicle to about $18,500. This is the trade in value, not private party or retail value. Is this a normal thing? I thought it only goes down, not up. I know the 2008 versions have been released, does the value of the older ones go up slightly after the release. This is a sticky situation as we had hoped to keep the truck (its at 1.9% interest) and NY only gives a $2400 car exemption. We owe about $14,000 on it.

I was actually hoping that it would lose a little value before we filed as its really close and I'm afraid the trustee will demand the vehicle.

Yikes, when we bought our vehicle we researched and chose this type because we heard it held its value good (we've never been upside on it even with no money down). Now thats coming back to bite us in the butt!

[BKOnce]

It's normal. NADA prices for used cars also statistically based on resell-market or factor of "prices people willing to pay for used cars". Obviously, maybe more people can not afford increasing prices for new cars lately so they buy more used cars instead. Supply-demand rule governs, as more people compete for similar used/model car, with limited supply, prices will... increase...

[Boscoe]

Try Edmunds.com I found them to be a bit lower in the prices than the others, which is where you want to be.

[Lindsay]

Thanks for the information. I didn't realize that they could go back up! I knew I wasn't crazy because I printed it out to give to the lawyer with a date stamp on it. I hope it doesn't go up even more like to 20,000 or something. The trustee will definitely be interested in it.