Now this is not really a fool-proof solution, but if you do not know whether your car is in a well enough condition to warrant a full blown price and you do not want to use one of them Black Books without really knowing what is under your hood, you can always compare that price with the offer given to you by a logbook loan appraiser. Generally, these people do not give you more than 50% of the estimated true sales value. Why would you do that, when there are people offering free used car valuations online? None of them will physically get a look at your car.
To be honest, most of the logbook loan people will not look at your car all too closely either, but their average loan estimate is most of the time spot on. See, they cannot afford to give you cash that goes beyond the actual value of your car. Additionally, at some you may want to take advantage of this feature, if you ever need a quick cash loan. You never know, when such a place just might be your last minute solution.
It is actually pretty interesting that a loan officer is supposed to be good in appraising your car, any car for that matter. Nevertheless, hundreds of logbook loans are being issued and approved daily, so why not take advantage of the free expertise.
Logbook loans have gained pretty bad press and now people are reluctant to use them, unless they really have to. Lately, though, the government has been thoroughly investigating all the logbook loan places, even shutting down some. There are also places, legit places, where you can inquire about the lenders and how they conduct business, allowing you to pick a reputable logbook loan office.