How to Estimate a Used Car's Value

When searching for a used car, one of the mostmay have lost up to 65%. If you know the car's original
important factors to consider is whether the car youprice, you may want to use this rule of the thumb for
are looking for really is worth its tag price.your estimation.
Even though the car may look like quite a deal, it is3. Use a Third-Party Information Service
possible that you are being ripped off. Here are a fewCar Fax is a good way to find out about used car
tips to help you make that decision when consideringhistories. They offer a service that will give you a
used cars.detailed history of the car you are interested in. The
Hector Milla Editor of the "Direct Auto Loans Lenders"information included will typically include accident history
website -- -- pointed out;and insurance data.
"…Do a Little Research …Kelly Blue Book is one of the most comprehensive
When you find a used car that catches your fancyused car value listings around. It would be a good idea
make sure you do research on that car. Find out howto take a peek into their services for an updated list of
much that car costs if it were brand new. You shouldhundreds and hundreds of used car values.
also look into whether the car is still in production and if4. Take a Mechanic with You
its parts are still available. You could also try a little"…A car's value is also directly related to its running
shop hopping to compare used car prices among carscondition. If you are not that well versed in mechanics
of the same value and same age…"and cars, you may want to take a mechanic along so
If a car's price is too low, that should send you into athat he or she can evaluate whether the car really is
state of alarm. It is possible that the car is much moreworth the used dealer's tag price…" added H. Milla.
trouble than it is worth.Some used car dealers will offer cars that are
If it is too expensive, you may want to ask why that isdefective and try to hawk them by sweetening the
so.deal. Beware of these kinds of car dealers.
2. The Older the Car the Cheaper is Should BecomeTry to look for a reputable dealer. The past
Brand new cars typically lose up to 30% in their valueexperience of your acquaintances will be very valuable
in 3 years, and by the time the car is 5 years old, itin evaluating a car dealership.