worldofcalcsCar Depreciation Calculator
How much is your car worth now?
A car loses value every year. In India two numbers matter: the IDV (insured declared value), which insurers set using a fixed IRDAI schedule and which is the most you get if the car is stolen or written off; and the market value, what a buyer will actually pay. This calculator shows both.
How the values are worked out
For IDV, insurers deduct 5% up to 6 months, 15% up to 1 year, 20% up to 2 years, 30% up to 3 years, 40% up to 4 years and 50% up to 5 years. After 5 years the IDV is agreed between you and the insurer. The market value uses a fixed yearly depreciation rate that you can change: 15% is a common average, but popular models hold value better and less popular ones lose it faster.
Getting the most for your car
- IDV is based on the ex-showroom price; registration, road tax and insurance aren't included. Fitted accessories can be insured on top.
- A higher IDV means a higher premium but a bigger payout if the car is stolen or totalled. Don't let the insurer cut it just to show a lower premium.
- Market value depends heavily on the model's popularity, fuel type, kilometres, condition, number of owners and service history.
- Diesel cars face age limits in Delhi-NCR (10 years), which cuts their resale value there.
- A full service record, no accident history and a single owner can add noticeably to the selling price.
Worked example
- A car bought at an ex-showroom price of ₹10,00,000, now 3 years old
- IDV: 30% depreciation, so ₹7,00,000
- Market value at 15% a year: ₹10,00,000 × 0.85³ = ₹6,14,125
- Value lost so far: ₹3,85,875, or about 39%
- At the same rate, after 5 years it would be worth about ₹4,43,705
Value of a ₹10 lakh car by age
IDV from the IRDAI schedule and an estimated market value at 15% a year.
| Age | IDV depreciation | IDV | Market value at 15% |
|---|---|---|---|
| 6 months | 5% | ₹9,50,000 | ₹9,21,954 |
| 1 year | 15% | ₹8,50,000 | ₹8,50,000 |
| 2 years | 20% | ₹8,00,000 | ₹7,22,500 |
| 3 years | 30% | ₹7,00,000 | ₹6,14,125 |
| 4 years | 40% | ₹6,00,000 | ₹5,22,006 |
| 5 years | 50% | ₹5,00,000 | ₹4,43,705 |
After 5 years there is no fixed IDV; insurers and owners agree a value, usually close to the market value.