Skip to Main Content

Start Of Main Content

Calculate your car depreciation

Hold on to your car longer, or sell and buy a new one? This tool helps you decide.

It may be difficult to determine whether it’s financially better to hold on to your current vehicle or purchase a new one. But we have a vehicle depreciation calculator that can help with that decision.

Typically, you will find that it’s better to keep a vehicle a little longer since cars can depreciate quickly within the first few years of ownership. Along with depreciation, you’re typically paying more loan interest in the first few years of ownership as well. Sales tax and licensing fees are another consideration with new cars. All that adds up each time a different vehicle is purchased.

Should I keep or trade my car?

All fields are required. If something doesn't apply, place a 0 in the field.

First car

Second car

Results

Keep your vehicle

The total cost of purchasing an auto and keeping it for 0 months would be $0.

Purchase a different vehicle

The total cost of purchasing an auto and keeping it for 0 months, then using the value as a down-payment to purchase a new car and keep it for 0 months would be approximately $0.
You could save approximately $0 by keeping the auto longer.
Assumptions:
The first year's depreciation is 20% on the new car and 10% on the used car. Subsequent years were figured at 10% for both new and used.

Neither State Farm® nor its agents provide tax or legal advice. This calculator is for illustrative and educational purposes only. Its accuracy and applicability to your circumstances is not guaranteed. Please consult your own adviser regarding your particular circumstances.




844-362-6566

Also Important

How to buy a new car from a dealership

How to buy a new car from a dealership

Doing homework on vehicles, loan rates, and car prices might help keep the process from being overwhelming.

Should You Buy an Electric Car?

Should You Buy an Electric Car?

Consider these five things before making the switch to electric.

Related Articles

Decide Which Auto Loan is Best for You

Decide Which Auto Loan is Best for You

Use this calculator to compare two auto loans by filling in their specifics and see which loan is right for your next car, truck, or SUV.

New vs. Used Car - Calculate Cost of Ownership

New vs. Used Car - Calculate Cost of Ownership

Purchase price is just one consideration - you should also weigh depreciation and other factors. Use this new car vs used car calculator to help decide what kind of car you can afford.

5 Simple Auto Maintenance Tasks You Can Do Yourself

5 Simple Auto Maintenance Tasks You Can Do Yourself

Auto repairs cost drivers $766 per year on average, but some can be done at home.