Whether you are a potential car buyer looking for a good deal on a vehicle or are thinking of selling your car, you first need to figure out the vehicle’s loan value in order to negotiate a satisfactory transaction or ask a fair price. A car’s value is determined by several important factors such as the vehicle’s make, model, exterior and interior condition, mechanical shape and added features such as anti-lock brakes and airbags. Although a used vehicle's worth is not set in stone, there are ways in which you can get the average loan value.
Evaluate your car's condition. Look for cosmetic flaws as well as any mechanical problems. Have a trusted mechanic appraise your car's condition if you are unsure.
Visit the official site for The Kelley Blue Book (see References). Click on either the "New Car" tab or the "Used Car" tab, depending upon the car you are trying to find the loan value on, and click go.
Select the year, make and model of your vehicle in the provided boxes on the next page. Click the "Go" button to proceed to the next page. Choose the "Suggested Retail Value" button on the next page. Enter any extra features your vehicle has such as power locks or dual air bags, then press continue to proceed.
Follow the guideline, read each selection thoroughly and choose your vehicle's condition on the next page. Click submit to get the approximate loan value on your car.
Peruse consumer websites, magazines and other car-related resources, such as Consumer Reports and Auto Trader. to get a general idea of how much your vehicle loan value is worth. Be certain to look for vehicles that match your car's description, including wear and tear, cosmetics, mileage and any extra features.
