Car title loans can help when facing economic uncertainties and financial emergencies, such as late bills after getting laid off, medical expenses, and home or auto repairs. You can borrow emergency cash based on your car’s value. Knowing how to determine car value can help you establish the potential value for your title loan to see if it can help with your financial crisis.

In this guide from Fast Auto Loans, Inc., learn of ways to determine your car’s value, such as by using a car value calculator, considering the factors that contribute to car value, and establishing trade-in value using a car value calculator. We will also explain how to get approved for a quick Arizona title loan with us to handle urgent expenses.

How To Determine Car Value

Establishing your car’s value can help when trying to get a title loan or sell your car. Once you know the value of your car, you can estimate how much you can receive for a car title loan or by selling your car and if that is enough to handle your financial emergency. A number of factors can contribute to your car’s value that you must consider before selling your car or seeking a title loan.

The following are some ways to determine your vehicle’s value:

1. Understand The Factors that Influence Car Value

Every car has certain value indicators that loan lenders and car buyers will look at to determine how much they are willing to offer. An older car in worse condition will obviously lead to a smaller title loan and less money in the marketplace than a new car still in good condition.

Consider the following factors to determine your vehicle’s value:

• Year: Older cars are likely to be less valuable unless they are rare collector cars. An older car will generate less value, whereas a newer car is likely to be worth more.
• Make and model: This is what car you have and what brand manufactured it. Higher-class brands of cars, such as Ferrari, Porsche, and Maserati, will lead to greater value. More general brands like Honda and Toyota are likely to be worth less.
• Mileage: This is how many miles the car has on it, which you can find on the odometer. Vehicles that have more miles on them will be worth less than if they had rarely been driven.
• Condition: This is the overall exterior and interior condition of the car. This can include whether the car is clean, the exterior shell is intact, and what condition the car’s parts are in.

Factors like color and features may affect the value when trying to sell your vehicle, but they likely won’t affect the title loan value much. Consider whether you intend to get a title loan or sell your vehicle, as that can affect what factors are essential for car value.

2. Consult A Car Value Calculator

If you need help determining what the value of your car is based on the above factors, a car value calculator could help. Otherwise known as a pricing guide, they could provide you with a rough estimate of how much your car could be worth in the marketplace. You could use this car valuation to help determine whether you can get approved for the money you need for a title loan.

The following are three car value calculators you could use to calculate car value:

1. Kelley Blue Book: It was founded way back in 1926, and it’s the most trusted source for car valuation.
2. Consumer Reports: It has a user-friendly interface, and it also includes plenty of helpful information about how you can improve the car's value.
3. NADAguides: It uses data about millions of car sales to provide you with the most accurate information.

Each of these sites may provide you with a different car valuation for your vehicle’s trade-in value, so it’s vital to visit all three. Getting these three numbers can provide a range for how much your vehicle is worth.

3. Research The Market

Another method for how to determine car value is to research the value your car has on the market. Research the current value of your car when it is sold new and the trade-in value your car has. Remember, mileage and condition can affect your vehicle’s value, so your car may go for less than other people selling a similar model.

However, it can provide you with useful information and establish a range for how much your car is worth. If you decide to sell your car, you could use this market research to establish your initial price.

Selling My Car vs Title Loan: Which Can Provide More Emergency Cash?

If you face a financial emergency, you may consider selling your car or getting a title loan to help pay for your urgent expenses. What you should choose depends on life factors. Do you need your car to get around? In that case, you should consider a title loan. You do not have to give up your vehicle to get an Arizona title loan; you can get approved for emergency cash while keeping your car.

However, those who cannot afford their car anymore might consider selling their vehicle. It’s possible they can get more money and won’t have to worry about repaying the money. You should only consider selling your vehicle if you have access to public transportation or would rather get a less expensive vehicle.

How Does Your Car’s Value Affect Title Loan Amount?

Borrowers can get approved for up to $15,000 in an emergency from an Arizona title loan at Fast Auto Loans, Inc. During the approval process, one of our loan representatives will assess your vehicle’s value during a quick inspection.

How much you can get approved for will depend on your car’s value, as determined by some of the factors mentioned above. Not everyone will get approved for $15,000, and a borrower with a less valuable car will get approved for less.

Getting A Title Loan With Fast Auto Loans, Inc.

At Fast Auto Loans, Inc., we have a simple process for getting approved for a title loan. We can help you access the value of your vehicle to borrow emergency cash. Our process takes less than a day, allowing borrowers to get same-day approval if they meet our simple requirements.

The following are the required items you need for auto title loan approval:

• Your driver’s license or state-issued photo ID
• Your lien-free car title in your name
• Your vehicle for a quick inspection

You can start our easy process by filling out our online form. One of our loan representatives will call you to explain what you need to do to get approved. From there, they will meet you at a convenient location, such as your home, office, or one of our Arizona store locations. They will verify your required items, inspect your car’s value, and provide loan documents for you to sign. Approved borrowers can receive their emergency money the same day or the next business day!

Apply For A Title Loan Today – Get Approved For Up To $15,000!

You can use some of the above methods for how to determine car value before selling your car or getting a title loan. After figuring out its trade-in value, you can decide whether a title loan can provide enough emergency cash for your financial crisis.

Fast Auto Loans, Inc. is here to help with our simple approval process for Arizona title loans. Fill out our online inquiry form, and a loan representative will walk you through the approval process that can get you the emergency cash you need today!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.