{"id":872873,"date":"2020-08-10T22:44:34","date_gmt":"2020-08-11T02:44:34","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=872873"},"modified":"2026-04-09T11:45:49","modified_gmt":"2026-04-09T15:45:49","slug":"what-is-car-depreciation","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/car-loans\/what-is-car-depreciation","title":{"rendered":"How car depreciation affects your car&#8217;s value"},"content":{"rendered":"<h3>What is car depreciation?<\/h3><p>Car depreciation is how much value a vehicle loses over time. Each vehicle depreciates at a unique rate depending on factors like its make, model, age, accident history and maintenance record.<\/p><p>Vehicles lose value from the second they leave the lot to the day they\u2019re written off. In fact, after just the first year most new vehicles are worth 20% to 30% less than their purchase price. Keep reading to learn how understanding the ins and outs of depreciation can save you money.<\/p><p><strong>Skip to:<\/strong><\/p><ul><li><a class=\"scroll\" style=\"text-decoration: none;\" href=\"#calc\">How to calculate car depreciation<\/a><\/li><li><a class=\"scroll\" style=\"text-decoration: none;\" href=\"#model\">Car depreciation by brand and model<\/a><\/li><\/ul><h3>How does car depreciation work?<\/h3><p>The rate a car depreciates varies depending on whether the vehicle is new, used or leased. Let\u2019s take a closer look at how depreciation works for each option.<\/p><h4>New car depreciation<\/h4><p>New cars depreciate the fastest. Most new cars lose about 10% of their value as soon as they\u2019re driven off the lot, and another 10% to 20% by the end of the first year. After that, you\u2019re looking at the average depreciation rate of a car landing between 15% and 25% per year, for an average loss of over 60% by the fifth year.<\/p><p>If you plan to sell or trade in your vehicle within five years of buying it, you\u2019ll likely lose a significant amount of the car\u2019s value to depreciation.<\/p><p>To help give you an idea of how car deprecation works on a new car, the table below shows an example of how a new, compact car with a MSRP of $24,465 could depreciate over 5 years.<\/p><table class=\"luna-table luna-table--responsiveList\"><thead class=\"luna-table__header\"><tr><th scope=\"col\">After\u2026<\/th><th scope=\"col\">Car value<\/th><\/tr><\/thead><tbody class=\"luna-table__body\"><tr><td>1 minute<\/td><td>$22,019<\/td><\/tr><tr><td>1 year<\/td><td>$18,349<\/td><\/tr><tr><td>2 years<\/td><td>$15,138<\/td><\/tr><tr><td>3 years<\/td><td>$12,489<\/td><\/tr><tr><td>4 years<\/td><td>$10,303<\/td><\/tr><tr><td>5 years<\/td><td>$8,500<\/td><\/tr><\/tbody><\/table><h4>Used car depreciation<\/h4><p>Because depreciation is most drastic in the first year, you could save roughly 20% to 30% by <a href=\"https:\/\/www.finder.com\/ca\/car-loans\/used-car-sites\/used-car-buying-tips\" rel=\"noopener noreferrer\">buying a used vehicle<\/a> that\u2019s one year old. After the first year, depreciation averages about 17.5%, so you could save even more if you\u2019re open to buying an older vehicle. Plus, when it comes time to sell or trade in your vehicle, it\u2019ll retain more of its value.<\/p><h4>Leased car depreciation<\/h4><p>Instead of buying new or used, you could also choose to lease. The lease price includes the cost of depreciation, plus tax and interest, and has a set buyout price for the expected residual value of the vehicle. Once your lease is up, you won\u2019t need to worry about selling the car at a loss. Simply hand over the keys to end your lease or buy it out, which can be profitable if its resale value is more than the buyout price.<\/p><h3 id=\"calc\">How to calculate car depreciation<\/h3><p>Cars depreciate the most in the first year, but level out in the following years. The average depreciation rate of a new car is 25% by the end of the first year and about 17.5% each following year.<\/p><div class=\"u-grid\"><div class=\"u-grid__col u-1\/2@s\"><article class=\"luna-card luna-card--border\"><div class=\"luna-card__block\" style=\"text-align: center;\"><strong>Car depreciation formula after 1<sup>st<\/sup> year:<\/strong><\/div><div class=\"luna-card__block\" style=\"text-align: center;\">0.75 \u00d7 purchase price<\/div><\/article><\/div><div class=\"u-grid__col u-1\/2@s\"><article class=\"luna-card luna-card--border\"><div class=\"luna-card__block\" style=\"text-align: center;\"><strong>Car depreciation formula after 2 or more years:<\/strong><\/div><div class=\"luna-card__block\" style=\"text-align: center;\">0.825 \u00d7 value at the end of previous year<\/div><\/article><\/div><\/div><p style=\"text-align: left;\">This is how you would use this formula to calculate car depreciation on a new vehicle:<\/p><ul class=\"list-9\"><li><b>Value after 1 year:<\/b> Price of new vehicle \u00d7 0.75<\/li><li><b>Value after 2 years: <\/b>Value after 1<sup>st<\/sup> year \u00d7 0.825<\/li><li><b>Value after 3 years:<\/b> Value after 2<sup>nd<\/sup> year \u00d7 0.825<\/li><li><b>Value after 4 years:<\/b> Value after 3<sup>rd<\/sup> year \u00d7 0.825<\/li><li><b>Value after 5 years: <\/b>Value after 4<sup>th<\/sup> year \u00d7 0.825<\/li><\/ul><h4>Car depreciation calculator example<\/h4><p>Take a vehicle with an MSRP of $27,705. Using the formula above, here\u2019s how you would calculate the car\u2019s depreciation after each year you own it:<\/p><ul class=\"list-9\"><li><b>Value after 1<sup>st<\/sup> year:<\/b> $27,705 \u00d7 0.75 = <b>$20,779<\/b><\/li><li><b>Value after 2<sup>nd<\/sup> year: <\/b>$20,779 \u00d7 0.825 = <b>$17,142<\/b><\/li><li><b>Value after 3<sup>rd<\/sup> year:<\/b> $17,142 \u00d7 0.825 = <b>$14,142<\/b><\/li><li><b>Value after 4<sup>th<\/sup> year:<\/b> $14,142 \u00d7 0.825 =<b> $11,667<\/b><\/li><li><b>Value after 5<sup>th<\/sup> year:<\/b> $11,667 \u00d7 0.825 = <b>$9,625<\/b><\/li><\/ul><p>The car depreciation chart below illustrates how the value of a car decreases the most in the first year. As the car gets older the curve levels out and the value drops less severely from year to year.<\/p><div style=\"padding-top: 20px;\"><div class=\"infogram-placeholder\" data-id=\"infogram_0_13fa020b-944b-408c-b316-c46c00ab046e\" data-src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?IBV\"><\/div><\/div><h3>Sell or trade-in your car online<\/h3><div class=\"content tableWithFilters\n        \n        \n         -table-container\" id=\"comparison-table\" data-section=\"table\">\n    <div class=\"tableWithFilters__tableTop\">\n            <\/div>\n            <div class=\"contentWrapper tableWithFilters__contentWrapper \">\n        <div class=\"tableWithFilters__table content\">\n        <div class=\"js-comparison-calculator comparison-calculator comparison-calculator--paginationNav f1   \" data-category=\"8e47b8ac-9aa0-446f-b570-cb441a6c95fb\" data-template=\"comparison\" data-niche=\"CAFCL\" data-site=\"CAFCL\" data-auto-recalculate=\"true\" data-post-country=\"ca\" data-fieldset=\"cafcl-selling\" data-compare-fieldset=\"compareInfobox\" data-post-id=\"872873\" data-mobile-template=\"\" data-origin=\"straightforward-niche\" data-side-filters=\"false\" data-sort=\"\" data-enable-top-filters=\"false\" data-mobile-data-layout=\"grid\" data-redirect-tracking-params='{\"placement_type\":\"table\",\"site\":\"CAFCL\",\"fieldset\":\"cafcl-selling\",\"template\":\"comparison\",\"category_id\":\"8e47b8ac-9aa0-446f-b570-cb441a6c95fb\",\"category_name\":\"Selling Platforms\",\"is_sorted\":0,\"is_filtered\":0,\"cta_render_ts\":1778342432}' data-disable-alternative-products=\"true\" data-force-enable-alternative-products=\"false\" data-niche-default-category=\"\" data-niche-default-path=\"\" data-experiment-flags=\"\"><section class=\"comparison-calculator--container\"><div class=\"comparison-actions\"><div class=\"mobileSort__root\"><\/div><div class=\"u-grid u-grid--gutterCollapse templateTable__dateAndCounterContainer\"><div class=\"u-grid__col \"><small class=\"templateTable__counterContainer\"><span id=\"js-current_product_count-8e47b8ac-9aa0-446f-b570-cb441a6c95fb\">1 of 1 result<\/span><\/small><\/div><\/div><\/div><form action=\"\" name=\"compareForm\" method=\"post\" class=\"js-compare-bar\" data-compareinfobox=\"\" data-compare-fieldset=\"compareInfobox\" data-niche=\"CAFCL\" data-site=\"CAFCL\" data-table-id=\"1442\" data-origin=\"straightforward-niche\" data-record-type=\"product\" data-leadform-modal=\"\" data-redirect-tracking-params='{\"placement_type\":\"table\",\"site\":\"CAFCL\",\"fieldset\":\"cafcl-selling\",\"template\":\"comparison\",\"category_id\":\"8e47b8ac-9aa0-446f-b570-cb441a6c95fb\",\"category_name\":\"Selling Platforms\",\"is_sorted\":0,\"is_filtered\":0,\"cta_render_ts\":1778342432}'><div class=\"comparisonHistory__root\"><\/div><table class=\"comparison-table f1-clarity-header has-sidepeek js-paginated-table-sorter paginated-table-sorter    has-combined-column-header  combined-column-header-grid js-calculator-table rewards--container loyalty-rewards--container\" id=\"comparison-table-0000000000\" data-has-sidepeek=\"true\" data-rendered-as=\"table\" data-loadmore=\"true\" data-loadmore-version=\"1\" data-loadmore-id=\"1009\" data-niche=\"cafcl\" data-sorted=\"false\" data-sorting=\"\" data-pagination-nav=\"20\" data-pagination-nav-offset=\"0\" data-pagination-nav-next-offset=\"\" data-pagination-nav-prev-offset=\"0\" data-product-count=\"1\" data-manual-sponsored-count=\"\" data-include-inactive=\"false\" data-table-filter-presets=\"6aae2f028da1f28b5c9bfe1f43f9d5abe63119afa6d8b150dffb6d746daf65f0\" data-table-record-type=\"product\" data-table-record-ids='[\"b2551d0e-dd74-4c10-aec7-edba4e1039df\"]' data-total-data=\"1\" data-enable-top-filters=\"false\" data-total-product-count=\"1\" data-sponsored-placements=\"3\" data-sponsored-field-code=\"DERIVED.AD_RANK\" data-sponsored-max-per-provider=\"1\" data-override-table-position-configuration=\"false\"><thead class=\"u-bg--background-secondary u-color--foreground-main\"><tr class=\"grid-column-count-4\"><th data-ajax-table-sorter-column=\"PRODUCT.BUY_SELL.CAR_AGE_RANGE\" class=\"comparison-table__feature  tablesorter-header tablesorter-headerUnSorted comparison-table__sortable th-combined-column-header\" data-field-targetable=\"\" data-sorter-title=\"max._vehicle_age\">\n                                                        Max. Vehicle Age\n                                                      <svg class=\"luna-icon comparison-table__sortIcon\"><use href=\"#chevron-up-down\"><\/use><\/svg><svg class=\"comparison-table__sortIcon--asc luna-icon\"><use href=\"#arrow-up\"><\/use><\/svg><svg class=\"comparison-table__sortIcon--desc luna-icon\"><use href=\"#arrow-down\"><\/use><\/svg><\/th><th data-ajax-table-sorter-column=\"PRODUCT.BUY_SELL.CAR_MILEAGE_RANGE\" class=\"comparison-table__feature  tablesorter-header tablesorter-headerUnSorted comparison-table__sortable \" data-field-targetable=\"\" data-sorter-title=\"mileage_range\">\n                                                        Mileage Range\n                                                      <svg class=\"luna-icon comparison-table__sortIcon\"><use href=\"#chevron-up-down\"><\/use><\/svg><svg class=\"comparison-table__sortIcon--asc luna-icon\"><use href=\"#arrow-up\"><\/use><\/svg><svg class=\"comparison-table__sortIcon--desc luna-icon\"><use href=\"#arrow-down\"><\/use><\/svg><\/th><th data-ajax-table-sorter-column=\"PRODUCT.BUY_SELL.SERVICED_PROVINCES\" class=\"comparison-table__feature  tablesorter-header tablesorter-headerUnSorted comparison-table__sortable \" data-field-targetable=\"\" data-sorter-title=\"available_provinces\">\n                                                        Available Provinces\n                                                      <svg class=\"luna-icon comparison-table__sortIcon\"><use href=\"#chevron-up-down\"><\/use><\/svg><svg class=\"comparison-table__sortIcon--asc luna-icon\"><use href=\"#arrow-up\"><\/use><\/svg><svg class=\"comparison-table__sortIcon--desc luna-icon\"><use href=\"#arrow-down\"><\/use><\/svg><\/th><th data-ajax-table-sorter-column=\"PRODUCT.BUY_SELL.SELLING_CAR_PAYMENT\" class=\"comparison-table__feature  tablesorter-header tablesorter-headerUnSorted comparison-table__sortable \" data-field-targetable=\"\" data-sorter-title=\"vehicle_payment\">\n                                                        Vehicle Payment\n                                                      <svg class=\"luna-icon comparison-table__sortIcon\"><use href=\"#chevron-up-down\"><\/use><\/svg><svg class=\"comparison-table__sortIcon--asc luna-icon\"><use href=\"#arrow-up\"><\/use><\/svg><svg class=\"comparison-table__sortIcon--desc luna-icon\"><use href=\"#arrow-down\"><\/use><\/svg><\/th><\/tr><\/thead><tbody><style>\n\t.rewards-infobox .deals-banner { display:flex; flex-direction: row; border-radius: 16px; border:1px solid #000; overflow: hidden; }\n\t.rewards-infobox .deals-left { background:linear-gradient(103.63deg, #FFD23B 9.47%, #FFD835 16.17%, #FEDA3D 21.75%, #FEE053 29.57%, #FEEA77 39.61%, #FDF7A9 50.78%, #FDFFC4 56.36%, #FDF8AC 58.59%, #FDEE88 61.94%, #FEE669 65.29%, #FEE052 68.64%, #FEDB41 73.1%, #FED838 77.57%, #FFD835 83.15%, #FFD23B 89.85%); display:flex; flex-direction: column; align-items:center; justify-content:space-between; position: relative; width: 110px; 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absolute;\n    z-index: 4;\n    opacity: 0;\n    pointer-events: none;\n    width: 22px;\n    height: 22px;\n    top: 55%;\n    left: 3%;\n    margin-top: -19px;\n    margin-left: -6px;\n    animation: rewards-pill-star-rotate 4s infinite;\n  }\n\n  .rewards-pill__text {\n    font-size: 16px;\n    font-style: italic;\n    font-weight: 900;\n    text-transform: uppercase;\n    letter-spacing: 0px;\n    color: #092673;\n    z-index: 1;\n    line-height: 24px;\n    white-space: nowrap;\n  }\n\n  \/* &#9472;&#9472; New design overrides (data-show-tc=\"true\") &#9472;&#9472; *\/\n  .rewards-pill[data-show-tc=\"true\"] {\n    padding: 0px 10px 0px 4px;\n    border-radius: 4px 32px 32px 32px;\n    height: 38px;\n    align-items: center;\n  }\n\n  .rewards-pill[data-show-tc=\"true\"] .rewards-pill__shimmer {\n    border-radius: 4px 32px 32px 32px;\n  }\n\n  .rewards-pill[data-show-tc=\"true\"] .rewards-pill__icon-svg {\n    width: 68px;\n    height: 48px;\n  }\n\n  .rewards-pill[data-show-tc=\"true\"] .rewards-pill__star {\n    top: 0;\n    left: 0;\n    margin-top: 0;\n    margin-left: 0;\n  }\n\n  .rewards-pill[data-show-tc=\"true\"] .rewards-pill__text {\n    font-family: 'Modern Era', Arial, Helvetica, sans-serif;\n    font-weight: 900;\n    font-style: italic;\n    font-size: 16px;\n    line-height: 18px;\n    letter-spacing: 0;\n    text-align: center;\n    font-variant-numeric: lining-nums tabular-nums;\n    color: #092673;\n    white-space: nowrap;\n    text-transform: none;\n  }\n\n  .rewards-pill__content {\n    display: flex;\n    flex-direction: column;\n    justify-content: center;\n    z-index: 1;\n    height: 100%;\n    padding: 2px 0;\n    box-sizing: border-box;\n  }\n\n  .rewards-pill__tc {\n    font-family: 'Modern Era', Arial, Helvetica, sans-serif;\n    font-weight: 400;\n    font-style: normal;\n    font-size: 10px;\n    line-height: 130%;\n    letter-spacing: 0;\n    text-align: center;\n    font-variant-numeric: lining-nums tabular-nums;\n    text-decoration: underline;\n    text-decoration-style: solid;\n    color: #092673;\n    white-space: nowrap;\n  }\n\n  .rewards-pill__tc:hover {\n    opacity: 0.8;\n  }\n\n  @keyframes rewards-pill-shimmer {\n    0% {\n      transform: translateX(100%);\n    }\n    20% {\n      transform: translateX(-100%);\n    }\n    100% {\n      transform: translateX(-100%);\n    }\n  }\n\n  @keyframes rewards-pill-star-rotate {\n    0% {\n      opacity: 0;\n      transform: rotate(0deg) scale(0);\n    }\n    5% {\n      opacity: 1;\n      transform: rotate(45deg) scale(1);\n    }\n    15% {\n      opacity: 1;\n      transform: rotate(135deg) scale(1);\n    }\n    20% {\n      opacity: 0;\n      transform: rotate(180deg) scale(0);\n    }\n    100% {\n      opacity: 0;\n      transform: rotate(180deg) scale(0);\n    }\n  }\n\n  \/* Rewards Pill Countdown - wrapper layout for countdown + pill *\/\n  .rewards-pill-wrapper:has(.rewards-pill-countdown:not([hidden])) {\n    display: flex;\n    align-items: center;\n\n    @media (min-width: 601px) {\n      flex-direction: row;\n      gap: 10px;\n      margin-bottom: 6px;\n    }\n\n    @media (max-width: 600px) {\n      flex-direction: column;\n      gap: 12px;\n    }\n  }\n\n  .rewards-pill-countdown[hidden] {\n    display: none !important;\n  }\n\n  .rewards-pill-countdown {\n    font-family: 'Modern Era', Arial, sans-serif;\n    font-weight: 800;\n    font-size: 12px;\n    line-height: 100%;\n    letter-spacing: -0.025em;\n    font-variant-numeric: lining-nums tabular-nums;\n    color: #232320;\n    white-space: nowrap;\n    display: flex;\n    align-items: center;\n\n    @media (min-width: 601px) {\n      order: -1;\n    }\n\n    @media (max-width: 600px) {\n      justify-content: center;\n      margin-bottom: 8px;\n    }\n  }\n\n  .rewards-pill-countdown__timer {\n    display: inline;\n  }\n\n  .rewards-pill-countdown__sep {\n    margin: 0 1px;\n  }\n\n<\/style><tr data-product-id=\"b2551d0e-dd74-4c10-aec7-edba4e1039df\" data-provider-id=\"64f3760a-9630-4758-a75f-5f8b97ee3ef1\" data-product-name=\"Clutch Sell or Trade Your Car\" data-provider-name=\"Clutch\" class=\"grid-column-count-4  mobile-column-count-4 mobile-row-count-7  js-comparison-table__row  heroInTable__featuredProduct heroInTable__featuredProduct--yellow\"><td class=\"comparison-table__name combined-column-header sponsored-row  f1-clarity-header\"><div class=\"table-disclaimer__cellWrapper\"><button class=\"table-disclaimer\" data-target=\"#disclaimer_popup\" data-toggle=\"modal\" title=\"Important information about this website\" type=\"button\"><span class=\"table-disclaimer__text\"><span class=\"badge-text\">Promoted<\/span><\/span><svg class=\"luna-icon\" aria-hidden=\"true\"><use xlink:href=\"#info\"><\/use><\/svg><\/button><\/div><a href=\"https:\/\/www.finder.com\/ca\/car-loans\/online-car-dealers-canada\/clutch-review\" data-component-id=\"1003\" data-component-version=\"1\"><img decoding=\"async\" border=\"0\" src=\"data:image\/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHdpZHRoPSI5IiBoZWlnaHQ9IjUiIHN0eWxlPSJiYWNrZ3JvdW5kLWNvbG9yOiAjRjVGNkY3OyIvPg==\" data-src=\"https:\/\/www.finder.com\/niche-builder\/61ead1450520f.png\" alt=\"Clutch logo\" class=\"lazysizes\" srcset=\"https:\/\/www.finder.com\/niche-builder\/61ead1450520f.png?fit=180 180w, https:\/\/www.finder.com\/niche-builder\/61ead1450520f.png?fit=360 360w, https:\/\/www.finder.com\/niche-builder\/61ead1450520f.png?fit=600 600w, https:\/\/www.finder.com\/niche-builder\/61ead1450520f.png?fit=900 900w, https:\/\/www.finder.com\/niche-builder\/61ead1450520f.png?fit=1200 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\"><\/a><div class=\"finder-score-container\"><\/div><div class=\"product-info_name combined-column-header\"><span class=\"nameLink\"><a href=\"https:\/\/www.finder.com\/ca\/car-loans\/online-car-dealers-canada\/clutch-review\" target=\"_blank\" data-component-id=\"1014\" data-component-version=\"1\">Clutch Sell or Trade Your Car<\/a><\/span><\/div><\/td><td class=\"comparison-table__feature\n                                        \n                                        border-top\n                                                                                rounded-top-left\n                                                                                                                                                                                    first-row\n                                                                                                                        \" data-sortvalue=\"2000 or newer\" data-column-index=\"1\" data-decorator=\"text\"><div class=\"comparison-table__cellWrapper js-calculator-table-value\n                                                            \" data-heading=\"Max. Vehicle Age\">\n                        2000 or newer\n                                          <\/div><\/td><td class=\"comparison-table__feature\n                                        \n                                        border-top\n                                                            border-left\n                                                                                                                                                                                                                                                                                        \" data-sortvalue=\"Any\" data-column-index=\"2\" data-decorator=\"text\"><div class=\"comparison-table__cellWrapper js-calculator-table-value\n                                                            \" data-heading=\"Mileage Range\">\n                        Any\n                                          <\/div><\/td><td class=\"comparison-table__feature\n                                        \n                                        border-top\n                                                            border-left\n                                                                                rounded-top-right\n                                                                                                                                                                                                                                                \" data-sortvalue=\"ON, NS, NB, PE and BC (no trade-in option in BC)\" data-column-index=\"3\" data-decorator=\"text\"><div class=\"comparison-table__cellWrapper js-calculator-table-value\n                                                            \" data-heading=\"Available Provinces\">\n                        ON, NS, NB, PE and BC (no trade-in option in BC)\n                                          <\/div><\/td><td class=\"comparison-table__feature\n                                        \n                                        span-last-row\n                                                                                                                        rounded-bottom-left\n                                                            rounded-bottom-right\n                                                                                                                                                                            span-2\n                                                                                                                                                                            \" data-sortvalue=\"eTransfer funds in 1 business day\" data-column-index=\"4\" data-decorator=\"text\"><div class=\"comparison-table__cellWrapper js-calculator-table-value\n                                                            \" data-heading=\"Vehicle Payment\">\n                        eTransfer funds in 1 business day\n                                          <\/div><\/td><td class=\"comparison-table__feature comparison-table__feature--description comparison-table__feature--longtext sorter-false \" data-sortvalue=\"\" data-mobile=\"\" data-desktop=\"\"><div class=\"comparison-table__cellWrapper comparison-table__product-description js-calculator-table-value\" data-heading=\"Product Description\">\n                      Sell or trade-in your car without the hassle. Upload basic information and get an instant offer. Get the vehicle picked up from your driveway. Available in Ontario and Nova Scotia only.\n                  <\/div><\/td><td class=\"comparison-table__feature comparison-table__cta coa-data cta-column-count-4 \"><div class=\"comparison-table__cellWrapper\"><a data-component-props='{\"finderScore\":null,\"badges\":[],\"productId\":\"b2551d0e-dd74-4c10-aec7-edba4e1039df\"}' data-component-id=\"1026\" data-component-version=\"1\" target=\"_blank\" rel=\"sponsored\" href=\"https:\/\/www.finder.com\/redirect\/ca\/car-loans\/clutch-sell-or-trade-your-car-ca-car-loans-secure.html?nb=1&amp;src_country=ca&amp;redirect_tracking_params=%7B%22placement_type%22%3A%22table%22%2C%22site%22%3A%22CAFCL%22%2C%22fieldset%22%3A%22cafcl-selling%22%2C%22template%22%3A%22comparison%22%2C%22category_id%22%3A%228e47b8ac-9aa0-446f-b570-cb441a6c95fb%22%2C%22category_name%22%3A%22Selling%2BPlatforms%22%2C%22is_sorted%22%3A%220%22%2C%22is_filtered%22%3A%220%22%2C%22cta_render_ts%22%3A%221778342432%22%2C%22sponsored%22%3A%221%22%2C%22position%22%3A%221%22%2C%22offer_id%22%3A%2221759%22%2C%22niche_code%22%3A%22CAFCL%22%2C%22product_id%22%3A%22b2551d0e-dd74-4c10-aec7-edba4e1039df%22%2C%22product_name%22%3A%22Clutch%2BSell%2Bor%2BTrade%2BYour%2BCar%22%2C%22post_id%22%3A%22872873%22%2C%22post_path%22%3A%22car-loans%252Fwhat-is-car-depreciation%22%2C%22post_country%22%3A%22ca%22%7D\" class=\"luna-button luna-button--success luna-button--medium has-margin-bottom-xsmall button--cta\" title=\"Go to Clutch's site\">Go to site<\/a><a href=\"#\" class=\"comparison-table__more-button\" title=\"Read more about Clutch Sell or Trade Your Car\" data-component-id=\"1003\" data-component-version=\"1\" data-component-props='{\"finderScore\":null,\"badges\":[],\"productId\":\"b2551d0e-dd74-4c10-aec7-edba4e1039df\"}' data-custom-event-active=\"true\"><svg class=\"luna-icon\"><use href=\"#info\"><\/use><\/svg><span>View details<\/span><\/a><div class=\"luna-form__selection comparison-table__compareField\"><fieldset><legend class=\"compare-box__legend\">Compare product selection<\/legend><input class=\"luna-checkbox\" type=\"checkbox\" id=\"compare-product-0000000002-b2551d0e-dd74-4c10-aec7-edba4e1039df\" value=\"b2551d0e-dd74-4c10-aec7-edba4e1039df\" name=\"productID\" _productname=\"                            Clutch Sell or Trade Your Car            \" _productimg=\"\/product\/\" data-custom-event-active=\"true\" data-component-id=\"1004\" data-component-version=\"1\" data-component-props='{\"finderScore\":null,\"badges\":[],\"productId\":\"b2551d0e-dd74-4c10-aec7-edba4e1039df\"}'><label class=\"luna-label\" for=\"compare-product-0000000002-b2551d0e-dd74-4c10-aec7-edba4e1039df\">Compare<\/label><\/fieldset><\/div><\/div><\/td><td class=\"comparison-table__expander js-comparison-table__expander hide sidepeek-modal-slider\" aria-hidden=\"true\"><div class=\"sidepeek-modal-slider__overlay\"><\/div><div class=\"sidepeek-modal-slider__content\"><div class=\"sidepeek-modal-slider__close-wrapper\"><button type=\"button\" class=\"sidepeek-modal-slider__close js-expander-trigger\" aria-label=\"Close modal\"><svg class=\"luna-icon sidepeek-modal-slider__close-icon\"><use href=\"#x\"><\/use><\/svg><\/button><\/div><div class=\"comparison-table__cellWrapper\"><div class=\"comparison-table__expander--fetching center-over\"><div class=\"relativeloading-pulse__box loading-pulse__box-notext\"><span class=\"loading-pulse loading-pulse--medium loading-pulse--primary\">loading<\/span><\/div><\/div><\/div><\/div><\/td><\/tr><script>\n(function () {\n  window.isInfoBoxMutationObserverInitialized ??= false;\n  if (window.isInfoBoxMutationObserverInitialized) return;\n  window.isInfoBoxMutationObserverInitialized = true;\n\n  document.addEventListener(\"DOMContentLoaded\", () => {\n    function getLinkParams(anchor) {\n      const redirectUrl =\n        anchor.getAttribute(\"data-redirect-url\") || anchor.href || \"\";\n\n      try {\n        const url = new URL(redirectUrl);\n        const rawParams = url.searchParams.get(\"redirect_tracking_params\");\n\n        if (!rawParams) return;\n        const decoded = decodeURIComponent(rawParams);\n        const parsed = JSON.parse(decoded);\n        const { offer_id, niche_code, site, product_name, product_id } = parsed;\n\n        return {\n          redirectUrl,\n          offerId: offer_id,\n          niche: niche_code || site,\n          productName: product_name,\n          productId: product_id,\n        };\n      } catch (e) {\n        console.error(\"Failed to parse redirect_tracking_params\", e);\n      }\n    }\n\n    function initCountdownTimer(rewardsProduct, endDateStr) {\n      const countdownEl = rewardsProduct.querySelector(\".deals-countdown\");\n      \n      if (!countdownEl || !endDateStr) return;\n\n      const daysEl = countdownEl.querySelector(\"[data-countdown-days]\");\n      const hoursEl = countdownEl.querySelector(\"[data-countdown-hours]\");\n      const minutesEl = countdownEl.querySelector(\"[data-countdown-minutes]\");\n      const secondsEl = countdownEl.querySelector(\"[data-countdown-seconds]\");\n\n      let countdownInterval;\n\n      const updateCountdown = () => {\n        const now = new Date().getTime();\n        const endTime = new Date(endDateStr).getTime();\n        const distance = endTime - now;\n\n        if (distance < 0) {\n          \/\/ Countdown finished\n          if (daysEl) daysEl.textContent = \"00d\";\n          if (hoursEl) hoursEl.textContent = \"00h\";\n          if (minutesEl) minutesEl.textContent = \"00m\";\n          if (secondsEl) secondsEl.textContent = \"00s\";\n          if (countdownInterval) {\n            clearInterval(countdownInterval);\n          }\n          return;\n        }\n\n        const days = Math.floor(distance \/ (1000 * 60 * 60 * 24));\n        const hours = Math.floor((distance % (1000 * 60 * 60 * 24)) \/ (1000 * 60 * 60));\n        const minutes = Math.floor((distance % (1000 * 60 * 60)) \/ (1000 * 60));\n        const seconds = Math.floor((distance % (1000 * 60)) \/ 1000);\n\n        if (daysEl) daysEl.textContent = days.toString().padStart(2, \"0\") + \"d\";\n        if (hoursEl) hoursEl.textContent = hours.toString().padStart(2, \"0\") + \"h\";\n        if (minutesEl) minutesEl.textContent = minutes.toString().padStart(2, \"0\") + \"m\";\n        if (secondsEl) secondsEl.textContent = seconds.toString().padStart(2, \"0\") + \"s\";\n      };\n\n      \/\/ Update immediately\n      updateCountdown();\n\n      \/\/ Update every second\n      countdownInterval = setInterval(updateCountdown, 1000);\n\n      \/\/ Store interval ID to clear it later if needed\n      rewardsProduct.dataset.countdownInterval = countdownInterval;\n    }\n\n    const initRewards = (table) => {\n      if (!table) return;\n\n      const recordIdsAttr = table.getAttribute(\"data-table-record-ids\");\n      if (!recordIdsAttr) return;\n\n      let productIds = [];\n      try {\n        const decoded = recordIdsAttr.replace(\/&quot;\/g, '\"');\n        productIds = JSON.parse(decoded);\n      } catch (e) {\n        return;\n      }\n\n      if (!productIds.length) return;\n\n      productIds.forEach((productId) => {\n        \/\/ Handle pill clicks (minimal UX variant) - independent of infobox\n        const pill = table.querySelector(\n          `tr[data-product-id=\"${productId}\"] .rewards-pill`\n        );\n        if (pill && !pill.dataset.bound) {\n          pill.dataset.bound = \"true\";\n          pill.addEventListener(\"click\", () => {\n            const row = pill.closest(\"tr\");\n            if (!row) return;\n\n            const cta = row.querySelector(\".rewards--cta\");\n            if (!cta) return;\n\n            const linkParams = getLinkParams(cta);\n            if (!linkParams) return;\n\n            const pillModalParams = {\n              productId: linkParams.productId,\n              campaignName: row.getAttribute(\"data-rewards-campaign-name\") || \"\",\n              redirectUrl: linkParams.redirectUrl,\n              productName: linkParams.productName,\n              providerName: row.getAttribute(\"data-provider-name\") || \"\",\n              niche: linkParams.niche,\n              offerId: linkParams.offerId,\n              component: \"infobox\",\n            };\n\n            if (\n              window.rewards &&\n              typeof window.rewards.displayModal === \"function\"\n            ) {\n              window.rewards.displayModal(pillModalParams, false, cta);\n            }\n          });\n        }\n\n        const rewardsProduct = table.querySelector(\n          `div[data-rewards-product-id=\"${productId}\"]:not([data-rewards-banner-attached])`\n        );\n        if (!rewardsProduct) return;\n\n        const endDateStr = rewardsProduct.getAttribute(\"data-end-date\");\n        if (!endDateStr) return;\n\n        \/\/ Format date for Australian locale (dd MMM yyyy)\n        const formattedDate = new Intl.DateTimeFormat(\"en-AU\", {\n          day: \"2-digit\",\n          month: \"short\",\n          year: \"numeric\",\n        }).format(new Date(endDateStr));\n\n        const endDateEl = rewardsProduct.querySelector(\".rewards-end-date\");\n        if (endDateEl && endDateEl.textContent !== formattedDate) {\n          endDateEl.textContent = ` ${formattedDate}`;\n        }\n\n        \/\/ Calculate days remaining\n        const days = Math.ceil((new Date(endDateStr) - new Date()) \/ 86400000);\n\n        \/\/ Show \"Ends Soon\" badge if campaign ends within 7 days\n        if (days <= 7 && days > 0) {\n          const dealsEndsEl = rewardsProduct.querySelector(\".deals-ends\");\n          const dealsPhoneEl = rewardsProduct.querySelector(\".deals-phone\");\n\n          if (dealsEndsEl && dealsEndsEl.style.display !== \"inline-flex\") {\n            dealsEndsEl.style.display = \"inline-flex\";\n          }\n          if (dealsPhoneEl && dealsPhoneEl.style.top !== \"23px\") {\n            dealsPhoneEl.style.top = \"23px\";\n          }\n        }\n\n        \/\/ Initialize countdown timer\n        initCountdownTimer(rewardsProduct, endDateStr);\n\n        const dealsLeftEl = rewardsProduct.querySelector(\".deals-left\");\n        const dealsList = rewardsProduct.querySelector(\".deals-list\");\n        const dealsHeader = rewardsProduct.querySelector(\".deals-header\");\n\n        const handleClick = (triggerEl) => {\n          const row = triggerEl.closest(\"tr\");\n\n          if (!row) return;\n\n          const cta = row.querySelector(\".rewards--cta\");\n\n          if (!cta) return;\n\n          const linkParams = getLinkParams(cta);\n          if (!linkParams) return;\n\n          const { productId, redirectUrl, productName, niche, offerId } = linkParams;\n\n          const modalParams = {\n            productId,\n            campaignName: row.getAttribute(\"data-rewards-campaign-name\") || \"\",\n            redirectUrl,\n            productName,\n            providerName: row.getAttribute(\"data-provider-name\") || \"\",\n            niche,\n            offerId,\n            component: \"infobox\",\n          };\n\n          if (\n            window.rewards &&\n            typeof window.rewards.displayModal === \"function\"\n          ) {\n            window.rewards.displayModal(modalParams, false, cta);\n          }\n        };\n\n        if (dealsLeftEl && !dealsLeftEl.dataset.bound) {\n          dealsLeftEl.dataset.bound = \"true\";\n          dealsLeftEl.addEventListener(\"click\", () => handleClick(dealsLeftEl));\n        }\n\n        if (dealsList && !dealsList.dataset.bound) {\n          dealsList.dataset.bound = \"true\";\n          dealsList.addEventListener(\"click\", () => handleClick(dealsList));\n        }\n\n        if (dealsHeader && !dealsHeader.dataset.bound) {\n          dealsHeader.dataset.bound = \"true\";\n          dealsHeader.addEventListener(\"click\", () => handleClick(dealsHeader));\n        }\n\n        rewardsProduct.dataset.rewardsBannerAttached = \"true\";\n      });\n    };\n\n    const tables = document.querySelectorAll(\n      \"table.rewards--container[data-table-record-ids]\"\n    );\n\n    tables.forEach((table) => {\n      const tableObserver = new MutationObserver(() => {\n        setTimeout(() => initRewards(table), 0);\n      });\n\n      tableObserver.observe(table, {\n        childList: true,\n        subtree: true,\n      });\n\n      initRewards(table);\n    });\n\n    \/\/ Pill countdown timers (minimal UX)\n    function initPillCountdowns() {\n      const countdowns = document.querySelectorAll(\"[data-rewards-pill-countdown]:not([data-pill-countdown-bound])\");\n\n      countdowns.forEach((el) => {\n        el.dataset.pillCountdownBound = \"true\";\n        const endDateStr = el.getAttribute(\"data-end-date\");\n        if (!endDateStr) return;\n\n        const endTime = new Date(endDateStr).getTime();\n        if (Number.isNaN(endTime)) return;\n        const now = new Date().getTime();\n        const distance = endTime - now;\n        const sevenDaysMs = 7 * 24 * 60 * 60 * 1000;\n\n        if (distance <= 0) {\n          const wrapper = el.closest(\".rewards-pill-wrapper\");\n          if (wrapper) wrapper.style.display = \"none\";\n          return;\n        }\n\n        if (distance > sevenDaysMs) {\n          return;\n        }\n\n        el.removeAttribute(\"hidden\");\n\n        const daysEl = el.querySelector(\"[data-pill-countdown-days]\");\n        const hoursEl = el.querySelector(\"[data-pill-countdown-hours]\");\n        const minutesEl = el.querySelector(\"[data-pill-countdown-minutes]\");\n        const secondsEl = el.querySelector(\"[data-pill-countdown-seconds]\");\n\n        let interval;\n        const updatePillCountdown = () => {\n          if (!el.isConnected) {\n            if (interval) clearInterval(interval);\n            return;\n          }\n\n          const remaining = endTime - new Date().getTime();\n\n          if (remaining <= 0) {\n            if (daysEl) daysEl.textContent = \"0d\";\n            if (hoursEl) hoursEl.textContent = \"0h\";\n            if (minutesEl) minutesEl.textContent = \"0m\";\n            if (secondsEl) secondsEl.textContent = \"0s\";\n            if (interval) clearInterval(interval);\n            \/\/ Hide pill wrapper on expiry\n            const wrapper = el.closest(\".rewards-pill-wrapper\");\n            if (wrapper) 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0);\n      });\n      observer.observe(table, { childList: true, subtree: true });\n    });\n  });\n})();\n<\/script><\/tbody><\/table><div class=\"comparison-table__loadingIndicator center-over\"><div class=\"relativeloading-pulse__box loading-pulse__box-notext\"><span class=\"loading-pulse loading-pulse--medium loading-pulse--primary\">loading<\/span><\/div><\/div><div class=\"comparison-table__paginationContainer comparison-table__loadMoreContainer hide-comparison-table__paginationContainer\"><div class=\"comparison-table__loadMore comparison-table__paginationNav\"><button class=\"luna-button luna-button--primary js-comparison-table__showMore\" type=\"button\" data-offset=\"\">Load More<\/button><div class=\"js-show-more-data_count-8e47b8ac-9aa0-446f-b570-cb441a6c95fb comparison-table__dataCount\">Showing\n\t\t\t1\n\t\t\tof\n\t\t\t1\n\t\t\tresult\t\t<\/div><\/div><\/div><\/form><\/section><\/div><div id=\"compare-bar-v2\" class=\"compareBarV2__root rewards--container loyalty-rewards--container\" data-niche=\"CAFCL\" data-rewards-component=\"compare-products\"><\/div>\n    <\/div>\n<\/div>\n    <\/div>\n<h3>Top 4 ways car depreciation affects car insurance?<\/h3><p>Your car\u2019s value over time affects your car insurance rates in a few ways.<\/p><ol><li><strong>Car value.<\/strong> Higher MSRP means higher insurance rates. An expensive car requires pricier repairs and is more costly to replace. A low-cost used car is cheaper to repair and will get better insurance rates.<\/li><li><strong>Safety.<\/strong> An older car with poor safety ratings that doesn\u2019t have the latest safety features won\u2019t benefit from safety device discounts or a cheap rate.<\/li><li><strong>Coverage maximums.<\/strong> You might not need high coverage maximums on a car that\u2019s not worth much anymore.<\/li><li><strong>Coverage types.<\/strong> You can typically drop collision and comprehensive insurance coverage on an older car once the cost of coverage exceeds your car\u2019s value. For example, you might save hundreds of dollars a year by changing to a liability only plan and paying for damages yourself, assuming damages don\u2019t amount to very much.<\/li><\/ol><h3>What factors impact how fast a car depreciates?<\/h3><p>Whether you buy new, used or lease a vehicle, they all depreciate at different rates. Factors that influence how quickly a car loses value include:<\/p><div class=\"u-grid u-grid--alignStretch\"><div class=\"u-grid__col u-1\/3@s\"><article class=\"luna-card luna-card-border luna-card-stretch\"><figure class=\"luna-card__figure\" style=\"text-align: center;\"><i class=\"icon-broker icon-size-xx-large\" style=\"color: #67afeb;\"><\/i><\/figure><div class=\"luna-card__block\"><h4 style=\"text-align: center;\">Age<\/h4><p>The age of a vehicle is the biggest factor in depreciation. New vehicles depreciate the most in the first year, but the rate levels out to about 15% per year after the first couple of years.<\/p><\/div><\/article><\/div><div class=\"u-grid__col u-1\/3@s\"><article class=\"luna-card luna-card-border luna-card-stretch\"><figure class=\"luna-card__figure\" style=\"text-align: center;\"><i class=\"icon-stopwatch icon-size-xx-large\" style=\"color: #67afeb;\"><\/i><\/figure><div class=\"luna-card__block\"><h4 style=\"text-align: center;\">Mileage<\/h4><p>How much you drive can influence wear and tear, which directly affects depreciation. By keeping your odometer as low as possible, you can go a long way to minimizing the effects of depreciation.<\/p><\/div><\/article><\/div><div class=\"u-grid__col u-1\/3@s\"><article class=\"luna-card luna-card-border luna-card-stretch\"><figure class=\"luna-card__figure\" style=\"text-align: center;\"><i class=\"icon-gas-solid icon-size-xx-large\" style=\"color: #67afeb;\"><\/i><\/figure><div class=\"luna-card__block\"><h4 style=\"text-align: center;\">Gas prices<\/h4><p>The price of gas affects the cost of driving a vehicle, so a shift in gas prices can determine how well a vehicle holds its value.<\/p><\/div><\/article><\/div><\/div><div class=\"u-grid u-grid--alignStretch\"><div class=\"u-grid__col u-1\/3@s\"><article class=\"luna-card luna-card-border luna-card-stretch\"><figure class=\"luna-card__figure\" style=\"text-align: center;\"><i class=\"icon-products icon-size-xx-large\" style=\"color: #67afeb;\"><\/i><\/figure><div class=\"luna-card__block\"><h4 style=\"text-align: center;\">Brand<\/h4><p>Some vehicle brands maintain their value better than others thanks to repair costs, warranties, demand, expected life cycle and other variables.<\/p><\/div><\/article><\/div><div class=\"u-grid__col u-1\/3@s\"><article class=\"luna-card luna-card-border luna-card-stretch\"><figure class=\"luna-card__figure\" style=\"text-align: center;\"><i class=\"icon-details icon-size-xx-large\" style=\"color: #67afeb;\"><\/i><\/figure><div class=\"luna-card__block\"><h4 style=\"text-align: center;\">Paint colour<\/h4><p>Some colours are in higher demand than others. If you choose a colour that stands out, fewer people may be willing to buy your vehicle, which could hurt its resale value.<\/p><\/div><\/article><\/div><div class=\"u-grid__col u-1\/3@s\"><article class=\"luna-card luna-card-border luna-card-stretch\"><figure class=\"luna-card__figure\" style=\"text-align: center;\"><i class=\"icon-trauma icon-size-xx-large\" style=\"color: #67afeb;\"><\/i><\/figure><div class=\"luna-card__block\"><h4 style=\"text-align: center;\">Accident history<\/h4><p>The condition of your vehicle can directly affect the rate at which it depreciates. Even if you\u2019ve had it repaired after multiple accidents, a lengthy service history could reduce its value.<\/p><\/div><\/article><\/div><\/div><div class=\"u-grid u-grid--alignStretch\"><div class=\"u-grid__col u-1\/3@s\"><article class=\"luna-card luna-card-border luna-card-stretch\"><figure class=\"luna-card__figure\" style=\"text-align: center;\"><i class=\"icon-cog icon-size-xx-large\" style=\"color: #67afeb;\"><\/i><\/figure><div class=\"luna-card__block\"><h4 style=\"text-align: center;\">Configuration<\/h4><p>Build options can influence how the vehicle holds up over time, like the drivetrain and transmission. Manual cars might also be harder to sell than those with automatic transmissions.<\/p><\/div><\/article><\/div><div class=\"u-grid__col u-1\/3@s\"><article class=\"luna-card luna-card-border luna-card-stretch\"><figure class=\"luna-card__figure\" style=\"text-align: center;\"><i class=\"icon-cycle icon-size-xx-large\" style=\"color: #67afeb;\"><\/i><\/figure><div class=\"luna-card__block\"><h4 style=\"text-align: center;\">Supply and demand<\/h4><p>If demand outweighs supply, prices will go up. Conversely, if there are more sellers than buyers, resale value may go down.<\/p><\/div><\/article><\/div><div class=\"u-grid__col u-1\/3@s\"><article class=\"luna-card luna-card-border luna-card-stretch\"><figure class=\"luna-card__figure\" style=\"text-align: center;\"><i class=\"icon-refinance icon-size-xx-large\" style=\"color: #67afeb;\"><\/i><\/figure><div class=\"luna-card__block\"><h4 style=\"text-align: center;\">Running costs<\/h4><p>Maintenance and service fees are a reality of owning any vehicle. If a car is expensive to maintain, people may be less likely to buy it, meaning it would depreciate faster.<\/p><\/div><\/article><\/div><\/div><div class=\"u-grid u-grid--alignStretch\"><div class=\"u-grid__col u-1\/3@s\"><article class=\"luna-card luna-card-border luna-card-stretch\"><figure class=\"luna-card__figure\" style=\"text-align: center;\"><i class=\"icon-car-loans-solid icon-size-xx-large\" style=\"color: #67afeb;\"><\/i><\/figure><div class=\"luna-card__block\"><h4 style=\"text-align: center;\">Newer models<\/h4><p>If newer models have major improvements or incentives to buy them, older models could depreciate faster. The opposite can also be true \u2014 if a vehicle is discontinued or the newer version is worse than older models, the older models may hold their resale value better.<\/p><\/div><\/article><\/div><div class=\"u-grid__col u-1\/3@s\"><article class=\"luna-card luna-card-border luna-card-stretch\"><figure class=\"luna-card__figure\" style=\"text-align: center;\"><i class=\"icon-short-loans-solid icon-size-xx-large\" style=\"color: #67afeb;\"><\/i><\/figure><div class=\"luna-card__block\"><h4 style=\"text-align: center;\">Taxes and subsidies<\/h4><p>Both can affect the cost of ownership, which may impact the rate of depreciation. For example, if the government is offering a subsidy for hybrid vehicles, people could be more likely to buy them, which may lead to higher resale values.<\/p><\/div><\/article><\/div><div class=\"u-grid__col u-1\/3@s\"><article class=\"luna-card luna-card-border luna-card-stretch\"><figure class=\"luna-card__figure\" style=\"text-align: center;\"><i class=\"icon-service icon-size-xx-large\" style=\"color: #67afeb;\"><\/i><\/figure><div class=\"luna-card__block\"><h4 style=\"text-align: center;\">Warranty<\/h4><p>Most vehicles come with a new vehicle warranty, some of which are even transferable to new owners. Having a valid warranty could help maintain or improve resale values and reduce depreciation.<\/p><\/div><\/article><\/div><\/div><h3 id=\"model\">Car depreciation by brand and model<\/h3><p>Depreciation is the most influential factor in the long-term value and total cost of ownership of your car. But some cars hold their value better in the long run.<\/p><p>According to J.D. Power, the best brands for car depreciation in 2022 are Toyota, Chevrolet, Lexus, GMC, Mercedes-Benz and Subaru. These car brands were projected to have the highest percentage value of the original MSRP after a 3 or 4-year period.<\/p><p>Here are some of the slowest depreciating cars in 2020 according to the Canadian Black Book:<\/p><table class=\"luna-table luna-table--responsiveList\"><tbody class=\"luna-table__body\"><tr><td><strong>Compact Car<\/strong><\/td><td>Toyota Prius v<\/td><\/tr><tr><td><strong>Compact Commercial Van<\/strong><\/td><td>Chevrolet City Express<\/td><\/tr><tr><td><strong>Compact Luxury Crossover-SUV<\/strong><\/td><td>Porsche Macan<\/td><\/tr><tr><td><strong>Compact SUV<\/strong><\/td><td>Jeep Wrangler<\/td><\/tr><tr><td><strong>Entry-Luxury-Car<\/strong><\/td><td>Mercedes-Benz C-Class<\/td><\/tr><tr><td><strong>Full-Size Car<\/strong><\/td><td>Toyota Avalon<\/td><\/tr><tr><td><strong>Full-Size Crossover-SUV<\/strong><\/td><td>Toyota Sequoia<\/td><\/tr><tr><td><strong>Full-Size Luxury Crossover-SUV<\/strong><\/td><td>Mercedes-Benz G-Class<\/td><\/tr><tr><td><strong>Full-Size Pick-Up<\/strong><\/td><td><a href=\"https:\/\/www.finder.com\/ca\/car-loans\/ford-finance-canada\">Ford<\/a> F250 Super Duty<\/td><\/tr><tr><td><strong>Full-Size Vans<\/strong><\/td><td>RAM ProMaster 3500<\/td><\/tr><tr><td><strong>Luxury Car<\/strong><\/td><td>Lexus GS-Series<\/td><\/tr><tr><td><strong>Mid-Size Car<\/strong><\/td><td>Honda Accord<\/td><\/tr><tr><td><strong>Mid-Size Crossover-SUV<\/strong><\/td><td>Toyota 4Runner<\/td><\/tr><tr><td><strong>Mid-Size Luxury Crossover-SUV<\/strong><\/td><td>Mercedes-Benz GLE-Class<\/td><\/tr><tr><td><strong>Minivan<\/strong><\/td><td>Toyota Sienna<\/td><\/tr><tr><td><strong>Premium Luxury Car<\/strong><\/td><td>Porche Panamera<\/td><\/tr><tr><td><strong>Premium Sports Car<\/strong><\/td><td>Porsche 911<\/td><\/tr><tr><td><strong>Small Pick-Up<\/strong><\/td><td>Toyota Tacoma<\/td><\/tr><tr><td><strong>Sports Car<\/strong><\/td><td>BMW Z4<\/td><\/tr><tr><td><strong>Sub-compact Car<\/strong><\/td><td>Honda Fit<\/td><\/tr><tr><td><strong>Sub-Compact Crossover<\/strong><\/td><td>Honda HR-V<\/td><\/tr><tr><td><strong>Sub-Compact Luxury Crossover<\/strong><\/td><td>Mercedes-Benz GLA-Class<\/td><\/tr><tr><td><strong>Zero Emission Vehicle<\/strong><\/td><td>Ford Focus<\/td><\/tr><\/tbody><\/table><h3>How to limit depreciation when selling a car<\/h3><p>While you can\u2019t avoid depreciation, there are ways to reduce how fast it affects your car. From buying a car that has a reputation for reliability to staying up to date with maintenance, you can help your car maintain more of its value. Find even more <a href=\"https:\/\/www.finder.com\/ca\/car-loans\/buying-a-car\/reduce-car-value-depreciation\" rel=\"noopener noreferrer\">ways to reduce your car\u2019s depreciation<\/a>.<\/p><h3>How to take advantage of depreciation when buying a car<\/h3><p>There are a number of ways you can use depreciation to your advantage:<\/p><ul class=\"list-1\"><li><b>Shop for gently used cars.<\/b> Many cars depreciate the most in the first 3 years, which is the same length as most standard leases. The used car market is often flooded with nearly pristine vehicles, because most leases limit your mileage and require you to keep the car in good condition.<\/li><li><b>Buy based on the market. <\/b>Some cars have a lower resale value because of popularity or other market factors, even if there\u2019s nothing particularly wrong with the model. Watch out for cars that have poor resale value because they\u2019re genuinely lower in quality though.<\/li><li><b>Lease to buy.<\/b> When you lease a vehicle, the price includes the estimated cost of depreciation, and your contract will often state the guaranteed buyout price once the lease is over. In some cases, the actual resale value of the vehicle will be lower than the buyout price, meaning you can buy the vehicle at a discount.<\/li><li><strong>Choose the right colour. <\/strong>Believe it or not, the colour of your new car can have a huge impact on how much it will depreciate in the coming years. White, black, silver and grey cars are always popular and therefore better at maintaining value. Keep in mind that some limited-run colours may hold their value better due to low supply and high demand.<\/li><li><b>Drive your car into the ground.<\/b> If you buy a new or used car and don\u2019t plan to sell it, you won\u2019t need to worry about depreciation.<\/li><\/ul><h3>How to maintain your car\u2019s value<\/h3><ul class=\"list-9\"><li><strong>Stay on top of maintenance. <\/strong>Used car buyers want to purchase a vehicle that\u2019s been taken care of. Follow your car manufacturer\u2019s maintenance schedule, enter each service in the logbook and keep your receipts.<\/li><li><strong>Keep it clean. <\/strong>If your car is home to strong and unpleasant odors, don\u2019t expect to get a high price when the time comes to sell.<\/li><li><strong>Low mileage. <\/strong>As much as possible, keep your mileage to a minimum. Your car loses value the more miles you put on it.<\/li><li><strong>Check engine light. <\/strong>Don\u2019t ignore those warning lights on your dashboard if one pops up. Get your car in to be diagnosed asap.<\/li><li><strong>Be sparing with mods. <\/strong>A sky-high spoiler can be tempting, but it may also negatively impact your car\u2019s resale value.<\/li><\/ul><h3>Bottom line<\/h3><p>While car depreciation affects every make and model differently, you can reduce the impact by understanding how it works. Shop for a car that\u2019ll save you money on insurance and depreciation in the long run by <a href=\"https:\/\/www.finder.com\/ca\/car-insurance\" rel=\"noopener noreferrer\">comparing your insurance options<\/a>.<\/p><h3>Common questions about car depreciation<\/h3><ul class=\"luna-accordionGroup accordionGroup\"><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000000\" data-toggle=\"collapse\" data-target=\"#accordion0000000000\">\n        <span class=\"luna-accordion__title\">Should I buy a new or used car?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000000\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>It depends on your situation. Used cars are solid options because they allow you to avoid some of the costs of depreciation. But if you don\u2019t plan to sell the vehicle, you\u2019ll never face those costs in the first place.<\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000001\" data-toggle=\"collapse\" data-target=\"#accordion0000000001\">\n        <span class=\"luna-accordion__title\">Will car insurance cover depreciation?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000001\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>In some cases, yes \u2014 it\u2019s called diminished value. Even if your insurance company covers the cost of repairs, having an accident on the car\u2019s history can cause it to depreciate faster.<\/p><p>Another situation where insurance might cover depreciation is if you have gap insurance, which protects against potential losses due to depreciation if you\u2019re financing your vehicle.<\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000002\" data-toggle=\"collapse\" data-target=\"#accordion0000000002\">\n        <span class=\"luna-accordion__title\">Do cars ever stop depreciating?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000002\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>No. The rate of depreciation slows down over time, but even 10-year-old cars depreciate in value.<\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000003\" data-toggle=\"collapse\" data-target=\"#accordion0000000003\">\n        <span class=\"luna-accordion__title\">What is the best age to buy a used car?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000003\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>Because depreciation is steepest in the first year, and because lease terms typically last 3 years, you can avoid a significant amount of depreciation by buying a used car that\u2019s between 1 and 3 years old. You can often still get some life out of the warranty if it transfers to a new driver.<\/p><\/div>\n  <\/div>\n<\/li><\/ul><div id=\"sources\" style=\"position: relative;\"><h3 style=\"position: absolute; width: 1px; height: 1px; padding: 0; margin: -1px; overflow: hidden; clip: rect(0,0,0,0); white-space: nowrap; border: 0;\">Sources<\/h3>\n<div id=\"lazy0000000003\"><\/div>\n<script type=\"application\/json\" id=\"lazyloaded-assets-json-lazy0000000003\" class=\"lazyloaded-assets-json\">{\"critical-scripts\":[],\"scripts\":[\"https:\\\/\\\/www.finder.com\\\/parent-theme\\\/shortcodes\\\/article-source\\\/prod\\\/article-source.de087a0da9824e407767.js\"],\"styles\":[\"https:\\\/\\\/www.finder.com\\\/parent-theme\\\/shortcodes\\\/article-source\\\/prod\\\/article-source.87684078d471e76125dd.css\"]}<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Cars lose value as soon as they\u2019re driven off the lot. Find out how much your car could be worth and how to save money on your next car.<\/p>\n","protected":false},"author":471,"featured_media":872879,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[5831],"tags":[5929,85248,5851,5439],"asset_tag":[],"class_list":["post-872873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-car-loans","tag-car-insurance","tag-car-insurance-guide","tag-depreciation","tag-latest-3"],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.9 (Yoast SEO v24.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Car Depreciation Affects Your Car&#039;s Value | Finder Canada<\/title>\n<meta name=\"description\" content=\"Cars lose value as soon as they\u2019re driven off the lot. Find out how much your car might be worth today and how to save on your next car.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.finder.com\/ca\/car-loans\/what-is-car-depreciation\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How car depreciation affects your car&#039;s value\" \/>\n<meta property=\"og:description\" content=\"Cars lose value as soon as they\u2019re driven off the lot. 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