When someone mentions car depreciation, I always imagine a brand new car going out of the car dealership and then buckets of money flowing out of the car as it loses significant value. One way or another, you have heard that a brand new car may lose 10% or more just by taking it out of the car dealership. Then it continues to lose its value year after by some percent.
Do you think this is true? Where does the 10% come from? What do you think is the right percentage of the depreciation cost? Is that rate for a sedan or for an SUV? You probably own a Toyota, does your car depreciates less?
The more important question that should be running in your head is, what is the depreciation cost of MY OWN CAR (or the car that I am trying to buy)!
This is where CarSurvey's Car Depreciation Calculator comes in. We know the price trend of most car models and we derive the car depreciation of these car models. We package this information and make it all about you!
Let's take a step back and see what are the factors that affect the depreciation of your car.
Philippines Car Depreciation
The first thing that makes this Car Depreciation Calculator about you is that this is made in, and made for the Philippines. We find it almost useless to rely on car valuation or depreciation in Dollars or in Euros. We got tired of wishing someone should create one for the Philippines, para sa Pinoy! So here it is, para sa iyo talaga yan.
Not a Filipino? I'm sure you know some Pinoy out there, tell them about this Car Depreciation Calculator.
Car Brands - Toyota or Honda?
We are talking about the Car Maker and Model of your car. These companies have spent a lot of time and money to build their brands. The resell value of that brand depends on different factors that range from where is it made, what are the impressions of the current customers, up to the availability of the spare parts for these models. In a way, we put our lives at stake when we drive our cars, so we really need to bet on the Car Maker that has a great reputation.
To get an accurate depreciation cost for your own car, we only compare the market price to the same car maker and model for your car. You do that when you select the maker and model of your car in our Car Depreciation Calculator. The price trend for your selected car model is the only one that will affect your car depreciation rate.
Year when the Car is Bought
This is where the rubber hits the road. The age of the car is
the main factor in determining the depreciation of your car.
Instead of just giving you a standard rate of depreciation, our Car
gives you the actual Price is pesos on how much you are actually losing on a yearly basis.
Like what was said before, the car loses value after just driving out in the dealership. Prove this through our Car Depreciation Calculator! Just put in the right maker and model, then choose the year we are currently on and put '1' in the odometer. Then share to your friends this concrete insight into the depreciating cost after buying this brand new car model.
Another interesting thought about the age of the car is that the
value of the car has a big drop in its 4th year. They say this is
because of most of the required periodic maintenance. To keep the
warranty of our car, we need to strictly follow the prescribed
periodic maintenance but most of these expire on its 3rd year.
There is a perception that some people may not continue their
maintenance after this. Do you believe that? Again, prove it! Use
our Car Depreciation
Calculator to find out.
Mileage and Car Usage
The main flaw of a standard depreciation rate of say 15% or 20% depreciation per year is that it assumed that we all drive the same way. Do you think you drive similar to most people? We can actually answer that question for you, just go to our Mileage Rank Calculator to know exactly how much you drive more or less than the average driver. :)
Sorry, I digress… We believe that you are unique and your
driving habit is unique. We factor in the actual mileage of your
car in our Car Depreciation
Calculator. It is common sense that when you drive less, the
depreciation is less as well. Our Car
also assumes that you will have the same driving habit, similar mileage usage, in the coming years. We already factored all of these in the results of our Car Depreciation Calculator.
Casting a Vision
The depreciation of your car is a vision of the future for your car. What do you see? Do you think you can hold your car for the next three to five years? Does your car have enough value so that you can sell it and buy your next dream car? Tell your friends what you see. Share your insights on the results of the depreciation of your car. I'm sure they care about it, ..because we sure do!
Let's have a conversation. Please LIKE our FB Page.
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