A question of depreciation

[wanda]

Does anyone have any idea how long it will take my car (a megane 1.5 dci cc) to depreciate to £3000.



I was just thinking surely a car will never be worth £0.



If not can anyone direct me to a site which can tell me?



Cheers

[Gav]

I'm guessing somewhere between 6 and 8 years. Mostly it would depend on condition and mileage than outright age. Diesel residuals have held better than petrol of late, with smaller cars depreciating less too.

[Andy_CC]

My Megane CC 1.6 Dynaminque 2007 cost new approx £18,000 i bought it in Nov 08 for £9,000!! so its halfed its value in 12 months, glad i didnt buy it new

[wanda]

a chap on another site said the following

6-7 years -
Value Lost:
~48% year 1
~57% year 2
~64% year 3
~70% year 4
~75% year 5
~ 79% year 6
(These are rough estimates OFC, not taking into account the condition or mileage)

I wouldnt mind as after the car is paid off I have a car I am driving which is actually mine rather than cashing it and buying another one.

[andywills]

I was just thinking surely a car will never be worth £0.

correct, it will be worth about £25 to a knackers yard

[Stranger]

but a darned site more if you strip it and sell the parts