NADA Used Car Guide, used virtually by every dealer in every state, has dropped the wholesale (loan) values of used Toyotas a little over 3%. The retail values will drop a corresponding amount.
Kelley Blue Book (KBB) has also lowered the values of Toyotas around 3%. KBB, although it enjoys high name recognition among consumers, is not used by most dealers or most lenders in most parts of the United States for determining used vehicle values.
It was only a short time ago in December of 2009 that Kelley Blue Book issued a press release stating that Toyota had the best resale value of any make. As a real-world example of what the new pricing means in the market, a 3% hit in value to a $15,000 USD used car means a price drop of $450.
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