Can anyone tell me about how much I can expect to get for a 2008 Toyota Avalon with just over 15000 km and still in very good condition if I decide to sell it?
A friend of mine working with xxx insurance company told me that,When buying a second hand vehicle A rule of thumb would be a conservative 20% less that the purchase value for the first year and another 10% less of the remaining value for the succeeding years.
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Oops, sorry for the typing error on the last line of computation. It should be as follows
72,000 x 0.90 = 64,800 = 3rd yr
Bro,
A friend of mine working with xxx insurance company told me that,When buying a second hand vehicle A rule of thumb would be a conservative 20% less that the purchase value for the first year and another 10% less of the remaining value for the succeeding years.
Ex. 1st yr:
value x depreciation = remaining value
100,000 x 0.80 = 80,000
Succeeding years:
remaining value x depreciation = vehicle value
80,000 x 0.90 = 72,000 = 2nd yr
72,000 x 09.0 = 64,800 = 3rd yr
Cheers,