Vehicle Depreciation Calculator: Estimates the loss in value of a car over time.
The Vehicle Depreciation Calculator estimates the loss of value of a car over time, considering age, mileage, general condition, and model, being essential for resale valuation, insurance, and purchase and sale decisions.
Vehicle Depreciation Calculator
How to Use the Calculator
1. **Enter Vehicle Details:** Provide the make/model, year, and the original purchase price (in USD).
2. **Specify Usage:** Input the current mileage (in Miles) and the number of years you want to project the depreciation for.
3. **Adjust Factors:** Select the current condition and usage type of the vehicle. These factors significantly influence the depreciation rate.
4. **Calculate:** Click the "Calculate Depreciation" button to see the estimated future value and total loss.
Glossary of Terms
Depreciation:
The decrease in value of an asset over time due to use, wear and tear, and obsolescence.
Residual Value:
The estimated market value of a vehicle at the end of the projection period.
Exponential Model:
A common method for calculating depreciation where the loss in value is higher in the early years and slows down over time (more realistic for vehicles).
