Calculate Your Car’s Value For Quick Cash
If you’re planning on selling your vehicle or using it as collateral when taking out a loan, then you would naturally want to first find out how much your car is worth. The good news is that calculating the value of a vehicle is quite easy if you know exactly what to do. Simply follow our step-by-step guide to find out how much money you might be able to receive. Additionally, learn how much you can take out with a title loan and why Fast Auto Loans, Inc. is your quick cash solution.
How To Calculate Your Car’s Value
Know Your Car
The more you know about the vehicle and its history, the more accurately you will be able to calculate its value. Typically, the following factors would influence how much the car is worth:
- Make, model, and year
- Mileage (try to obtain the mileage directly from the speedometer)
- Features (power steering, anti-lock brakes, all-wheel drive, etc.)
Another incredibly important factor is the overall condition of your vehicle. Unfortunately, a lot of car owners tend to be overly optimistic about how their car is doing, so make sure to use this guide:
- Your car is extra clean if the overall appearance is nearly new and the under-hood area shows little to no weathering from winter use.
- A clean car has a couple of exterior flaws and may have a few defects in the paint. The under-hood area can show weathering from winter use.
- Average vehicles have small flaws (scratches, chips, door dings…), show slight wear in the interior, and some discoloration on the floor carpets. The trunk can be dirty and have some damage to the liner or carpet.
- If the vehicle is in a rough condition, it will show significant wear. Some accessories might be broken, and it may have damage to a few body panels. This is a typical condition of the majority of 5-year-old cars in the USA.
Consult A Pricing Guide
There are three most popular car pricing guides that can help you quickly get a rough estimate of what your vehicle is worth. All you would have to do is insert some basic information about the car on the official website.
- Kelley Blue Book was founded way back in 1926, and it’s the most trusted source for car valuation.
- Consumer Reports has a user-friendly interface, and it also includes plenty of helpful information about how you can improve the car's value.
- NADAguides uses data about millions of car sales to provide you with the most accurate information.
It is usually recommended to get the estimated value of your vehicle from all three sites as the numbers would be slightly different.
Research The Market
If you want to go the extra mile, make sure to do your own research on the local market conditions. Some cars might be extra popular in your area. Thus, their price would be a bit higher. Seasonality can, in some cases, also influence the vehicle’s value, and so on.
How Much Can You Take Out with a Title Loan?
If you’re trying to find out the value of your car because you’re planning on taking out a title loan, bear in mind that the loan amount will not be equal to the vehicle’s value. You would typically be able to borrow between 25% and 50% of the value, in case you get qualified.
The average loan amount is $100 to $5,500, but some lenders can offer more. For example, with Fast Auto Loans, Inc. you might get up to $15,000.
4 Reasons To Pick Fast Auto Loans, Inc.
If you decide to go for a title loan, it might mean that you need to get the quick cash as soon as possible. While some lenders would require days or even weeks to make a loan decision, the in-person meeting with a Fast Auto Loans, Inc. representative may take only half an hour! Here are a few other reasons why you might want to choose this company:
- You’re going to need only your vehicle, lien-free title, and ID to apply.
- The verification agent can meet you at a location of your choice.
- The lender welcomes all types of credit.
- You can opt for a registration loan if you’re still paying off your vehicle.
Would I Have To Pay To Find Out The Car Value?
If you disagree with the loan amount proposed or any of the terms, you can decline the offer without having to pay any hidden fees. And if you’re taking out a title loan, your title should be lien-free and it must have your name on it.
Get Your Quick Cash Today!
The higher the value of your vehicle, the larger the amount you might be able to qualify for when going for a title loan. With Fast Auto Loans, Inc., you can qualify for up to $15,000. And the best part is that you will receive the money as soon as the next bank day or even the same day. Don’t want to wait any longer? Then fill out the inquiry form to get started!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.