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How much does a car depreciate per mile? There is no rule of thumb for car depreciation per mile, it varies massively from car to car. Your best bet is to go online and see how the cost of your car changes with the number of miles done – keeping as many other variables the same.
According to some experts, mileage depreciation is about $0.08 a mile, but depreciation is more commonly measured in years than miles. If you want to calculate the depreciation for your vehicle it’s best not to trust some broad percentage that’s averaged out based on every make and model of vehicle.
As recently announced by the IRS, the business standard mileage rate for 2023 is 65.5 cents per mile (a 3-cent increase from the 62.5-cent rate that applied during the second half of 2022). Standard mileage rates can be used instead of calculating the actual expenses that are deductible.
Estimate your vehicle's value with Car Depreciation Calculator. See how car values diminish over time and identify models with minimal depreciation.
This Car Depreciation Calculator allows you to estimate how much your car will be worth after a number of years. The calculator also estimates the first year and the total vehicle depreciation. It is fairly simple to use.
Miles: Driving an average of 7,500 miles per year over five years or more can reduce depreciation by thousands compared with driving 15,000 miles per year. That’s because a used car’s value hinges largely on how many unused miles it has left.
Car depreciation per mile: This is the average depreciation cost per mile, which is the average annual depreciation cost divided by the average number of miles you will drive the vehicle per year. If you left the "Miles per year" field blank, this line's result will be "n/a".
The Cost Per Mile of Driving Calculator is a driver-friendly tool. With it, the drivers can estimate the cost of each mile driven, including fuel, depreciation, and maintenance. This information is invaluable for budgeting vehicle expenses, fixing fair mileage charges, or simply understanding the true cost of driving.
Estimate the depreciation of a new or used vehicle based on our modelling data or enter your own depreciation rate. Your vehicle can be new at purchase or second hand and we will calculate the depreciation based upon age and mileage.
Use this car value depreciation calculator to easily calculate the future value of a car or similar vehicle based on its initial cost and duration of exploitation. Estimate car depreciation after N years of exploitation in terms of absolute value lost and as a percentage of the purchase price.