[Mgs] Selling my '79 MGB Limited Edition

[Councill, David]

In years even further past, NADA just used a depreciation formula based on the
initial new price of the car. It worked well (I think) for American cars which
typically lost value faster but not so much for MGBs. When I bought by first
71 BGT in 1978, with about 60k miles and in almost new condition, I paid
around $2000. When I went to license it in another county, the clerk told me I
needed a bill of sale for sales tax or if not, they would have to use blue
book (NADA). I asked them how much was their value, they said $1000. So I took
that and left happy (at 4% sales tax, I paid $40 instead of $80). Now I see
that values seem to be high but not unreasonable with NADA or Kelly book
values.

David Councill
64 B
67 BGT
72 B



-----Original Message-----
From: gordies garage
Sent: Monday, August 22, 2011 7:10 AM
To: mgs at autox.team.net
Subject: Re: [Mgs] Selling my '79 MGB Limited Edition

Isn't it amazing how price guides purport to know the value of a vehicle,
yet are under no obligation to stand behind that value (as in writing a
check)?
In years past the NADA guide was used exclusively by the lenders to
determine the loan value.  It allowed lenders to loan more, and ppl to pay
too much.
To me, it makes the guides rather worthless.

Gordie
'62 MGA

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