How do I work out the depreciation on my car?

Hi there,

There's no black and white answer to that one I'm afraid. It takes a little research and some experience of the industry. Even so, it's never a factual figure, as different buyers or dealers will offer you different amounts for your car.

Have a good look through Carzone.ie and other car classifieds sites for cars that closely match yours in terms of specification, model year and mileage and make a note of average prices. Bear in mind that the prices advertised (especially those from the trade) are not what you'll receive for your car, so knock a few grand off for relatively new (up to five years old or so) models. Take that figure from your original purchase price to work out the depreciation.

It's an inexact science, but this method should give you a good gauge anyway.