How to Calculate Car Depreciation Value by Yourself

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How to Calculate Car Depreciation Yourself Without Waiting for a Car Appraisal

Car depreciation determines the eventual resale value of the car. It's not difficult to calculate car depreciation, and in this article, we will provide a simple guide to help you do so.

Car depreciation, or the loss in car value, is dependent on the year of purchase and the period of use. The following formula can be used to calculate it:

Car depreciation = (New car price - Residual value) ÷ Number of years used.

For example, if car model A has a new price of 1,000,000 baht, was purchased 3 years ago, and currently has a remaining value of 600,000 baht, the calculation of car depreciation can be done as follows:

Car depreciation = (1,000,000 - 600,000) ÷ 3 = 133,333.33 baht per year.

Depreciation is one way to estimate the cost of owning a car. This information can be helpful in deciding if you should buy a new or used car. You can also work out the residual value and see if it's worth your hard-earned cash. By making informed decisions based on our needs and budget, we can save money on car ownership in the long run.

If you want to know the appraisal price for selling your car, you can register with Motorist. We are ready to offer you the best price within 24 hours. It's free to use and there are no hidden fees!

Read More: Buy a car like this, and you can definitely sell it at a good price!

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