Calculate car depreciation
Use our car depreciation calculator to estimate how much your vehicle could decrease in value each year over the next six years.
This calculator is for illustrative and educational purposes only. Its accuracy and applicability to your circ*mstances is not guaranteed. You may wish to consult your own adviser regarding your particular circ*mstances.
How much will my car depreciate?
According to iSeeCars, in 2023 the average car lost 38.8% of its value over five years. However, different cars depreciate at different rates, with SUVs and trucks generally holding their value longer than other types of vehicles. Used cars also depreciate more slowly than new ones, keeping more of their resale value in comparison.
How do I calculate depreciation on my car?
Car depreciation varies by make and model, but you can ballpark your car's depreciated value by looking up its current market value and subtracting it from the price you originally paid for it. Kelley Blue Book, Consumer Reports, and other websites offer quick ways to look up a vehicle's market value. Having this info handy can be useful if you plan to trade in your car.
If you're shopping for a brand-new car, you could also research prices for older models of the one you want to get an idea of what it'll be worth in a few years. Progressive Car Shopping Services provided by TrueCar can help you get started, whether you're buying new or used.
What car has the highest depreciation rate?
The Maserati Quattroporte and the BMW 7 series topped iSeeCars' list of vehicles with the highest depreciation in 2023, at 64.5% and 61.8% over five years, respectively. According to their study, luxury sedans and SUVs tended to drop the most in value. Drive a BMW? Learn more about insurance for BMWs.
What type of car has the lowest depreciation rate?
According to iSeeCars, the Porsche 911 coupe had the lowest depreciation rate in 2023, losing just 9.3% of its value over five years. In general, in-demand cars tend to hold their value better, and the Porsche 911 is one of the most popular sports cars in the used market. Other vehicles iSeeCars identified as having a low depreciation rate included best-sellers like the Toyota Tacoma and Jeep Wrangler.
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