How to Determine the Value of a Used Car

Executive Summary about Value Car by Derek Hudson

When pricing a used car, a variety of factors come into consideration from the make and model to the mileage and condition of the vehicle.

1. Start with the Book

The first place you should look to determine the value of a used car is either the Kelley Blue Book or the NADA Guide. Both of these websites offer estimated values for vehicles based on their make, model, year, mileage, condition, geographical region of sale and how they’re being sold. For example, the trade-in vehicle for a car is almost always much less than if the car were sold privately.

2. Price Other Comparable Vehicles

Before you jump on a particular sale, price out other similar vehicles in your area. By understanding what else is available in the market, you’ll have a clearer idea about a reasonable price and the actual value of your used car.

3. Have the Car Inspected

Unless it is certified by the manufacturer, you should have any used car you plan to purchase inspected by a certified, third-party mechanic. His independent assessment of the vehicle can help you obtain a clearer picture of the car’s actual worth.

4. The Higher the Mileage, the Older the Car and the Lower the Value

Unless you’re dealing with a vintage collectible, age is never going to be a plus when determining the value of a car. Many cars also have a timing belt or chain that should be replaced about every 100,000 miles.

5. Examine the Condition of the Car

While it’s fairly easy to clean up a car or have it detailed, how well the car has been maintained, both inside and out, should have some impact on your valuation of the vehicle.

Car Title Loans Online - How to Determine Your Car’s Value

Executive Summary about Value Car by Andrew Stratton

Car title loans are short-term loans given to people with bad credit in return for an auto title as collateral. First you need to know how your online loan lender will evaluate your automobile. A car’s value is determined by evaluating and comparing numerous factors, including:

* Make and model: This is based primarily on the vehicle’s reliability and safety. If they are more likely to sell, they maintain their value better than others.
* Popularity & Demand (Scarcity): Vehicles that are more popular in the used car market are a better sale for the lender should they have to repossess and sell it. Hence, popular brands hold their value better.
* Vehicle history: Salvaged automobile and those that have been in accidents are less valuable because the damage they have sustained makes them difficult to sell.
* Age & Mileage: The more your vehicle was driven, the more its worth will decrease.
* Condition: For obvious reasons automobile that have been well maintained attain a higher resale value.
* Options: Manufacturer upgrades such as interior upgrades, new tires etc. all increase the value of a car.
* Location: Sometimes the place where a automobile is sold can affect its value, especially if it was built for a specific terrain or weather conditions. For example, a 4×4 outfitted for snow is not as valuable in New Mexico as in Michigan.

Lenders use the wholesale value (or trade-in value) of the automobile when determining how much they are willing to lend to borrowers. The Kelley Blue Book is a popular online resource for determining the value of a used car. This online research tool allows consumers to input all of the details about a vehicle to get a precise market value for that particular vehicle. Car title loans online have lenders that will loan up to about 50 percent of the value of the automobile used for collateral, though some will only loan up to around 25 percent.