This is a number calculated for NEW autos by dividing the amount of the loan by the MSRP (Manufacturer's Suggested Retail Price), or in some cases Invoice. For used autos, divide the amount of the loan by the vehicle value published in a recognized auto pricing guide - for example, those published by Kelley Blue Book. Kelley Blue Book is a recognized wholesale appraisal guidebook that provides guidance on the auto's value at any given time, and gives the book value of a used auto in a specific market area.
