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How can I find the value of a commercial vehicle?

I want to buy a Ford E-450 box truck for my furniture restoration and antique business. However, I can't find a value for the vehicle. Because I'll need to finance, I want to get its value ahead of time to avoid overpaying. How can I find the value of a commercial vehicle?

avatar
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“To find the value of a commercial vehicle, you can check online listings, like
Kelley Blue Book
 or Edmunds. They’re both free to use, but other services or sites may charge a fee.
If you don’t want to pay or can’t find the value through a free listing, you can take the vehicle to a mechanic or ask for an appraisal at a commercial truck dealership.
If you decide to pull the trigger on the truck, make sure to get the proper
car insurance
 to cover commercial use. Lenders will require higher coverage for a financed vehicle in order to protect their asset.
Higher coverage can be pricey, but you can save money by comparing rates, just like how you’re comparing loan rates. Using a smart comparison tool like
Jerry
 can help save you time researching. Jerry does all the hard work for you, pulling quotes from the top 50 companies and delivering the best deals to your phone in minutes.”
MORE:
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