Why Getting a Purchase Quote for Your Used Car Is Essential, Even If You're Not Selling

The Expert Podcast

Why You Should Get a Cash Offer for Your Vehicle Regularly:

• Even if you're not planning to sell your vehicle, it's beneficial to get a cash offer 3-4 times a year.
• Places to get cash offers:
  • Kelly Blue Book (KBB)
  • TrueCar
  • CarGurus
  • CarMax
• Process: Enter your VIN number, ZIP code, mileage, and receive a bona fide cash offer.

Benefits of Getting a Cash Offer:

• Know Your Car's Value: Understand the current worth of your vehicle.
• Equity Awareness: Compare the offer with your car loan to gauge your equity.
• Insurance Claims: If your car is stolen or wrecked, you'll know its pre-incident value to avoid being lowballed by your insurance company.
• Diminished Value: After repairs, get another cash offer to understand the impact of the damage record on your vehicle’s value.
  • Example: A car worth $25,000 before a wreck might be valued at $22,000 after repairs due to Carfax damage records.
  • Insurance might have to compensate for the diminished value; check your policy and state laws.

Documentation and Follow-Up:

• Record Keeping: Save the official value and email for documentation.
• In Case of Damage: If your car is wrecked, get a cash offer the same day to document its pre-accident value.

Making Informed Decisions:

• Track Depreciation: Regularly updating your car’s value helps you keep track of depreciation.
• Consider Selling or Trading In: Knowing your car’s worth might influence your decision to trade it in or sell it.
  • Example: A client with a minivan worth $30,000 found they could trade it for a newer model, saving money and upgrading their vehicle.

Additional Resources:

• Live Consultations: For detailed advice and personalized assistance, visit Actual Human for one-on-one consultations with experts in various fields such as insurance, investigations, real estate, and business development.
• Questions & Comments: Drop your questions or comments below. For deeper inquiries, schedule a live consultation with a licensed expert.

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