Sbi Home Loan Calculator

Estimate the current resale value of your car based on market trends

Economy Sedan (15%/yr) Mid-size SUV (18%/yr) Luxury Vehicle (22%/yr) Electric Vehicle (25%/yr) Pickup Truck (12%/yr)

Calculation Results

Estimated Current Value:

$0.00

Total Depreciation:

$0.00

Retained Value %:

0%

Monthly Cost of Ownership:

$0.00

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Understanding Vehicle Depreciation

Vehicle depreciation is the difference between what you paid for your car and what you can sell it for today. It is typically the single largest expense of owning a new vehicle, often exceeding the costs of fuel, insurance, and maintenance combined.

Key Factors That Influence Depreciation

• Mileage: The more you drive, the lower the value. Standard usage is roughly 12,000 to 15,000 miles per year. Exceeding this "normal" range accelerates depreciation.
• Condition: Mechanical health and cosmetic appearance (exterior paint and interior wear) significantly impact resale prices.
• Vehicle Class: Luxury cars and high-end EVs often depreciate faster because their maintenance costs are higher and technology becomes obsolete quickly. Conversely, pickup trucks and reliable economy brands like Toyota or Honda tend to hold value longer.
• Number of Owners: Fewer previous owners usually translates to a higher market value.

How This Calculator Works

This tool uses a declining balance depreciation model. It starts with your purchase price and applies an annual depreciation rate specific to the vehicle type. We also include a "mileage penalty" of 0.5% for every 1,000 miles driven above the industry standard of 12,000 miles per year.

Real-World Example

Imagine you purchase a Mid-size SUV for $40,000. After 3 years of driving 15,000 miles per year:

1. Base depreciation for SUVs is roughly 18% per year.
2. Extra mileage (3,000 over standard) adds a small penalty.
3. Year 1 Value: ~$32,800
4. Year 2 Value: ~$26,896
5. Year 3 Value: ~$22,055

In this scenario, your vehicle lost approximately 45% of its value in just 36 months.

How to Slow Down Depreciation

While you can't stop depreciation entirely, you can minimize it by keeping detailed service records, choosing popular "safe" colors like white, silver, or black, and addressing minor dings or scratches promptly before they lead to rust or larger issues.