I guess this is something that a lot of us would be interested in, but
I can't seem to find any way of figuring out how to go about this.
I have a 85K miles, 6 year old BMW 2000 323i 4dr sedan . From the
dealer price 2 years back (24500) to its current KBB value (15500), it
has depreciated $9000.
I am in a situation where I just *need*
to figure out the monthly
depreciation of this car for the next 1 or 2 years. Is there any way of
finding this out? Assuming excellent condition and 15K per year
Surely, the rate won't be 4500/year cause that way in 3.5 years this
car would be at $0 !? Logically, the depreciation rate should fall
every year (highest in the 1st year, and gradually decreasing every
year after that). Is this assumption correct?
Is KBB/Edmunds etc based on statistical data on local sale prices? Or
is there a way to approximately predict the value after a year or two.
Any information will be highly appreciated!