Car Value?

[Anonymous]

Hi All,

I see a lot of posts regarding upside down auto loans. On the Kelly Blue Book website, which value should I being looking at?  Is it the private party price?

Thanks for your help

[Anonymous]

I've worked at the dealership. I would say look at the trade in value price. Usually car dealerships buy them 2-3 thousands under that price (sometimes even more).  so if you buying private party, I would say something between trade-in and private party.

[Anonymous]

Great. Thanks for your help :0)

My reason for asking is I bought a car from my Uncle for a great price. However, I took out a 5 year loan since it was my first Auto loan and was nervous to commit to a large payment. Since it's a 5 year loan I still want to make sure I'm not upside down.

Going by the values on KBB, I'm still in good shape. Woohoo!!

[Anonymous]

Congrats, feels good to have equity in your car doesn't it? I remember when I first notice I had equity in my car.

Now I only owe 3k on it and kbb trade in value is at around 10k =)