Determining "how much is my car worth" involves more than just looking at the sticker price. Vehicles are depreciating assets, meaning they lose value the moment they leave the dealership. Our calculator uses a sophisticated algorithm to simulate real-world market depreciation.
Key factors that influence your car's resale value include:
Initial Depreciation: Most cars lose 15-20% of their value in the first year alone.
Mileage Impact: The average driver covers 12,000 to 15,000 miles per year. If your mileage is significantly higher, your car's value drops faster due to mechanical wear and tear.
Vehicle Condition: Mechanical health and cosmetic appearance (paint, interior, tires) can swing the price by thousands of dollars.
Ownership History: A "one-owner" car is typically more desirable and commands a higher price than a vehicle that has changed hands multiple times.
Accident History: Even if repaired perfectly, a vehicle with a history of major accidents usually carries a "diminished value" tag.
Real-World Examples
Let's look at how different scenarios impact a car that originally cost $40,000:
Scenario A (The Commuter): 3 years old, 60,000 miles, Good condition. Estimated value: ~$22,000.
Scenario B (The Weekend Driver): 3 years old, 15,000 miles, Excellent condition. Estimated value: ~$28,500.
Scenario C (The Rough Rider): 5 years old, 80,000 miles, Poor condition, 1 accident. Estimated value: ~$11,000.
How to Maximize Your Car's Worth
If you are planning to sell or trade-in your vehicle soon, consider these steps to boost your valuation:
Detailed Service Records: Proof of regular oil changes and maintenance suggests a well-cared-for engine.
Professional Detailing: A clean car suggests the owner took pride in ownership, often leading to higher offers.
Fix Minor Issues: Small dents, cracked windshields, or burnt-out bulbs are cheap to fix but can distract buyers and lead to lower offers.
function calculateCarValue() {
var price = parseFloat(document.getElementById('purchasePrice').value);
var age = parseFloat(document.getElementById('carAge').value);
var mileage = parseFloat(document.getElementById('mileage').value);
var conditionMultiplier = parseFloat(document.getElementById('condition').value);
var owners = parseInt(document.getElementById('owners').value);
var accidents = parseInt(document.getElementById('accidents').value);
if (isNaN(price) || isNaN(age) || isNaN(mileage)) {
alert("Please enter valid numbers for price, age, and mileage.");
return;
}
// 1. Basic Age Depreciation
// Average 15% first year, 10% subsequent years
var currentVal = price;
if (age > 0) {
currentVal = currentVal * 0.82; // Year 1 hit
if (age > 1) {
currentVal = currentVal * Math.pow(0.88, (age – 1)); // Subsequent years
}
}
// 2. Mileage Adjustment
// Expect 12,000 miles per year.
var expectedMileage = age * 12000;
if (age === 0) expectedMileage = 1000;
var mileageDiff = mileage – expectedMileage;
if (mileageDiff > 0) {
// Penalty for high mileage: 0.5% for every 2000 miles over average
var mileagePenalty = (mileageDiff / 2000) * 0.005;
currentVal = currentVal * (1 – mileagePenalty);
} else if (mileageDiff 0.15) mileageBonus = 0.15;
currentVal = currentVal * (1 + mileageBonus);
}
// 3. Condition Adjustment
currentVal = currentVal * conditionMultiplier;
// 4. Owner Penalty
if (owners > 2) {
currentVal = currentVal * (1 – (owners – 2) * 0.03);
}
// 5. Accident Penalty
if (accidents > 0) {
currentVal = currentVal * (1 – (accidents * 0.15));
}
// Floor the value at 10% of original or $500 (scrap value)
var minimumValue = Math.max(price * 0.1, 500);
if (currentVal < minimumValue) {
currentVal = minimumValue;
}
// Format and Display
var resultBox = document.getElementById('resultBox');
var finalValueDisplay = document.getElementById('finalValue');
var valuationNote = document.getElementById('valuationNote');
resultBox.style.display = 'block';
finalValueDisplay.innerHTML = '$' + Math.round(currentVal).toLocaleString();
var rangeLow = Math.round(currentVal * 0.92);
var rangeHigh = Math.round(currentVal * 1.05);
valuationNote.innerHTML = "Typical dealer trade-in range: $" + rangeLow.toLocaleString() + " – $" + rangeHigh.toLocaleString() + ". Factors like local demand and color also affect final price.";
// Smooth scroll to result
resultBox.scrollIntoView({ behavior: 'smooth', block: 'nearest' });
}