How Do You Determine A Used Car Loan Value?
With the price of cars and gasoline going up all the time, many people decide to save some money by buying a used car. You’ll find some good deals, both on car lots and privately. Find out all that you can about a car you’re interested in so that you can get a better used car loan value. Do your homework and check consumer reporting magazines and websites for good used cars. Some resources will offer a recommended range of pricing (see Resources below). Check the “blue book” price of a used car. The Kelley Blue Book is the bible of car pricing, and will tell you a reasonable price range for a used car (see Resources below). Evaluate a car’s condition. In addition to the blue book price, you need to check for flaws. While a lovingly cared for car with improvements may be worth more than the blue book price, you’re more likely to encounter a car with flaws. If you can live with the flaws, make sure the seller adjusts the used car price for flaws. Get a used car checked out by someone who
