Car values to consider for bad credit auto loans

Whenever you are considering purchasing a vehicle, you should also consider how well that vehicle holds its value. The reason is that someday you are going to want to sell or trade that vehicle. And the better a vehicle is at holding value, the higher the price you’ll get when you sell it or trade it in. The Kelly Blue Book annual list of best vehicle resale values is a good resource to check before purchasing a car and obtaining a bad credit car loan.

There’s a difference between the price and the cost of a car even when financing with poor credit car loans. We know this because for the last few years at Federal Auto Loan, we’ve been helping applicants find quality lender or dealer partners that support bad credit car loan programs. Our website also provides information on good and bad credit auto loans, repossession, bankruptcy, and today’s topics and tips on choosing the right car.

More than just the price.
If you are only considering the price in what a vehicle is going to cost you, you are making a mistake. There is far more to a vehicle’s cost than just the price on the sticker in the window. A better thing to consider is the idea of “Total Cost of Ownership”… which takes into account a number of other things that “cost you” including: fuel efficiency, reliability, maintenance costs and, especially, depreciation.

Depreciation is the declining value of a vehicle over time. According to those in the know at Kelley Blue Book (www.kbb.com), during the typical five-year ownership period of a car, its loss in value (called depreciation) is usually the biggest expense of all. Depreciation is also one area where car buyers can save money simply by choosing a model that loses less of its value than other vehicles in the same category.