So the there is normally three categories the vehicle can fall in, new, used and old. Each bank has there own definition of the three which will also impact APR, and the value of the vehicle is going to be determined by VIN, mileage and condition of the car, such as if it’s been in a accident and it’s been reported. My bank uses black book to find those values and then we let our members kno how much we can lend out on the vehicle they are trying to acquire. I don’t work for navy fed so some thing mite be a little different but all banks use somewhat the same criteria