Calculate your vehicle’s current value and depreciation over time.
Current Estimated Value
$0
Total Depreciation
$0
Depreciation Percentage
0%
Annual Depreciation
$0
Calculation Details
Disclaimer: Our Car Depreciation Calculator is designed to give you an estimated Car Depreciation which helps in your financial decisions of your vehicle. The results depend on the input data which you add and the formula of depreciation.
What Is Car Depreciation?
Car depreciation is basically the amount which is deducted from the Vehicles values over some time. When a new car start it's journey the depreciation is start. If you want sell, buy or trades in the vehicle in United States, you must aware of the depreciation process.
Now vehicle loses its value because of some factors and it includes age, condition, make and model, market demand and also the mileage. Mostly vehicles lost their value each year up to 50% to 15%. Many car's lost their value so you should take care of it and also checking the minor faults which cause more problem in the future.
How to use our Car Depreciation Calculator?
Using our tool is so easy you just know the few details of your car and simply enter in this tool. Make sure that we don't add the car make and model in our tool which make it so limited. We used the basic formula for the calculation, follow the below step to calculate depreciation:
- Enter the price you paid for the vehicle.
- Input the year when you bought it.
- Enter how many miles were on the vehicle at the time of buying.
- Add the current mileage.
- Enter your estimated annual mileage.
- Choose Vehicle Condition either is it good, fair or poor.
When you enter all the data just simply click on calculate button, this tool will show the Current Estimated Value, Total Depreciation, Depreciation Percentage and Annual Depreciation. Also you will see a chart of Depreciation Over Time and the Calculation Details.
Factors That Affect Depreciation in the U.S.
Their are some of the important factors which effect the car loses value so quickly and you must know about it. It includes the age of vehicle which is so important because the new car will depreciate faster in first 3 years. Miles also effect it, if your vehicle travel more miles it means it have less value. If the car condition is so good then their is less chances of loses the value.
Make and model also play and important role in it like of the brands like Honda and Toyota hold's the better value. If you are driving the SUVs or Pickup trucks then the depreciate slower than sedans. Vehicle type is also important so if you are going to buy or sell the car first check it out its vehicle type.
If you understand all these factors you can easily slow down Depreciation and make better decisions when buying or selling. Make sure to keep mileage low if it is possible. Always stick to scheduled maintenance. Save your car from damage and keep it clean. Don't do unnecessary modifications and keep service records, which help you to get better resale price.
Is Depreciation Tax Deductible?
In the U.S if you car is used for business purposes then depreciation can be deducted on your tax return. The Internal Revenue Service (IRS) help in vehicle depreciation using methods like MACRS (Modified Accelerated Cost Recovery System). In this if you have personal vehicle so it not qualified.
Also gig workers can claim this if they are self employed and work for Uber, Lyft and delivery. Always check with your tax professional for more details.
About this calculator
Car Depreciation Calculator is free web tool which designed to help people of the United States with their car depreciation process. With the easy to use interface anyone can use it just simply enter the few details. It perform calculation in second which save your time and give you option to do multiple calculations.
For using this tool you don't need to login or sign up, it is totally free to use. Also we built it's design too mobile friendly so anyone can use it in their mobile phones. It shows you proper chart of the calculation which helps you to understand better, and give you a clear idea when to buy or when to sell your car.
Conclusion
Always save your vehicle from accidents and damages. Wash it on the weekly bases which make it look good. When you buy a car make sure to buy a insurance for it which save your car in the future. Don't hesitate to buy a car , check the minor issue and problem because your are the next owner and it will either give you benefits or losses.
If you are looking for a cheap vehicle then buy a vehicle which is not a brand but a normal car which can handle your daily life driving in the cheap budget.