How Can You Estimate the Value of your Used Car?

If you’re looking to buy a new car, moving to an area where you no longer need a car or if you want to get rid of your car in exchange for some extra cash, you can sell your car used. One of the things that many people worry about when they’re planning to sell their used car is not knowing how much to ask for the vehicle.

Estimating the Value of a Used Car

When you’re selling your used car, it’s important to know its value. This way you can ensure that you’re not ripping yourself off and that you’re getting the right amount of money for your used car.

Family inside Prudent Value Car

Here are a few tips for estimating the value of a used car.

Use Resources Online

There are resources online that you can use to help you estimate the value of your car. Two reputable websites are Kelly Blue Book and Edmunds. These two sites are slightly different from one another, but they offer the same basic service. You visit the site, enter in some information about your vehicle (year, make, model, mileage, options, condition, etc.) and the website will provide you with an evaluation of the vehicle.  You can use this evaluation to price your car when you’re selling it.

Compare with Other Vehicles

You can come up with an estimate for the value of your car on your own with a little work. Check various resources in your area to find comparable used vehicles for sale.

Try looking in newspapers, magazines and online for private sales of used cars that are the same age, make and model as your own. The more comparisons you can find, the better. You’ll then want to take an average of all of the selling prices of these cars. This will help you come up with an estimate for the value of your own used car.

Talk to a Dealer

Many car dealerships will give you a trade-in value for your car. This is the amount that they would give you to put towards the purchase of a new vehicle from them if you traded in your used car. While this price will probably be different from the amount that you could get if you were to sell the vehicle privately, it will still give you a good idea of what you should expect.

In general, you can probably get between $1000 and $1200 more by selling your car privately than if you were to trade in your car to a dealer. Keep this in mind and price your car accordingly.

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How Car Title Loans Can Help You Repair Bad Credit

thinking to buy a carIf you have bad credit, you might be wondering about how you can repair your credit rating. Having a good credit rating is important as it allows you access to better loans and lower interest rates. But how do you repair your credit rating once you have bad credit?

One good way to do this is with a car title loan.

How Can a Car Title Loan Help You Repair Your Credit Rating?

A car title loan is a good loan to get, since it is a secured loan. Since the loan uses your vehicle as collateral, a credit check usually isn’t required. This means that, even if you have bad credit, you should be able to get a car title loan, as long as you own a vehicle.

Before you get a car title loan, make sure to find out if the lender reports to the major credit bureaus. This is important.

Once you’ve received the loan, all you need to do is make your payments on time and get your loan discharged once you’ve paid it off. Since the lender reports to the credit bureaus, they’ll find out that you were able to handle the loan and pay it back on time.

This allows you to establish a history of successful loan repayment, which will improve your credit rating.

Lenders like to see that you have been able to pay back loans in the past. Doing so increases the likelihood of you being able to pay back your next loan and it decreases the risk for the lender. This improves your credit rating.

Important Points to Remember

It’s important that you do not miss any payments during the term of the loan. The only way that you will be able to improve your credit history with a car title loan is by making all of your payments on time. If you miss a payment, you could end up hurting your credit rating even more.

You will also want to check and make sure that the property description status has been discharged once the loan is done. This will show that you are actually done paying the loan and that the vehicle is once again in your name.

Having an official document that states that you have paid off your loan in full will also help improve your credit rating.

Remember, it can often take time to repair a damaged credit rating. You will need to prove that you are able to handle paying back a loan and rebuilding this trust can’t be done overnight. Getting a car title loan is a good start.