How do I get the book value of my car? There are several ways to determine the book value of your car before selling or trading it for a new set of wheels. To find the value of your car use the following resources, the Kelley Blue Book, the NADA (National Automobile Dealers Association) Guides and the Black Book.
The PTI is a figure stated by a lender that defines the maximum car loan the lender is prepared to offer based on the applicant’s income. This helps to avoid borrowers overextending themselves and being unable to make the monthly repayments. Current averages range from 10% to 15%.
Try to make a full use of free advertising forums online and your church ads board. One good place to sell your used car online for free. A lot of countries have some cars specialties magazines which allow you to advertise your car for free as well & they charge a small fee for the magazine buyer. Both of these can be a great free way to increase your car selling chances.
DO know that negotiating used car prices is always an option that is open to you. Despite the fact that some sellers will attached a “price is firm” quote along with their listing, most are open to negotiating if you start to haggle. Their goal in saying price is firm is to create a strong impression that they will not negotiate, but a good percentage will actually lower their selling price if presented with a decent offer.
The dealer will handle all of this in a professional manner in a professional safe setting. There is no need for you to have to direct total strangers to your home.
$25,000 – 3 years of $500 per month ($16,000) = You still owe around $11,000. The bank has made about $4500 on you so far. The good news is, the Car value should have only fallen to about $14,000. You could sell it and pick up a little profit or trade it in and maybe break even toward your next new car. The bad news is you lost your job and you have been having a problem making that $500 payment. Maybe next year.
In most repo car sales, the buyer assumes responsibility once payment is complete, which means there is no warranty on the car. After you pay and leave the lot, it doesn’t matter if the car breaks down a year later or 5 minutes later. Of course, there are good salesman out there who would not leave you hanging like this, but you must be careful when attending cheap repo car sales. You cannot assume that you would get a refund for the transaction if the car malfunctions shortly after purchasing.
Cash is always the best option, though a bank draft is as good as cash. If you have to accept a check for the price of the car then ensure you don’t give the car key yet, till the check is cleared. Always be careful with checks as not all people as honest as your are.