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Car Depreciation Calculator
Our online car depreciation calculator helps you find out the current value of your old car. This can be done when you know the original price of the car when you purchased, your car's percentage of depreciation per year and the age of the car.
Formula to calculate car depreciation is given below:
V = Current Value
C = Initial Cost
D = Percent of Depreciation per Year
Y = No. of Years Owned
Example: A car was purchased at $27,000 with an annual depreciation rate of 18%. Find the current value of the car after 3 years.
Solution:
Given: Initial Cost = $27,000
Annual depreciation rate = 18%
Age of the car = 3 years
We know the formula to calculate current value of the car = C * (1-D)Y
inserting values into the above formula = 27,000 x (1 - 18/100)3
= 14,886
Therefore, the current value of the car is $14,886
In our below car depreciation calculator, enter the given input values and click calculate button to get the current value of your car.
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