We’ve put together this guide to help you wrestle control over your car’s ongoing valuation and market price. However, there are many other less obvious ways that you can minimise the effects of car depreciation. A high mileage, badly-maintained vehicle will become less valuable than a low mileage, well-kept example. Read on for depreciation enlightenment… Depreciation affects every car – it’s closely linked to both age and mileageĮvery new car will lose some value as soon as it drives off the forecourt. It may seem simple and inevitable with this backdrop in mind, but many car sellers overlook the fact that understanding depreciation rates can save a lot of money when it comes to timing the sale of any vehicle. With electric switchover issues expected to impact ongoing fossil fuel car values significantly for the foreseeable future, no wonder depreciation has become such a hot topic among savvy car owners in recent times. The average rate of depreciation in the UK for older petrol and diesel vehicles has sped up rapidly in recent years, as the nation approaches the 2030 electric vehicle ‘switchover’ deadline, which will ban the sale of all new fossil fuel cars.Īnd with London’s ULEZ and other city-based clean air zones (CAZs) such as Birmingham’s Clean Air Zone accelerating car depreciation rates even further, now may be the ideal time to sell your car at Motorway to one of over 5,000+ verified dealers in our nationwide network before prices slump further.
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Removing any finance you may have in place on your car out of the equation, it’s the difference between what your car was worth when you bought it, and how much it’s worth if you were to sell it today.ĭepreciation is closely linked to both age and mileage until it reaches ‘scrap’ status, when its value can reach close to zero. Car depreciation is a simple idea in theory.