Used Car Fair Price

Free Used Car Fair Price calculator with clear step-by-step results.

About Used Car Fair Price

Depreciates the original price geometrically by age, then adjusts for how far the odometer sits above or below the expected reading for that age at roughly five cents per excess kilometre, and finally applies a condition and history adjustment for service records, damage or desirable specification.

Formulas

Value from age

Value = original price x (1 - annual depreciation)^age

Mileage adjustment

Adjustment = -(odometer - expected km per year x age) x 0.05

Worked example

With the default values below, Used Car Fair Price returns Estimated fair market value of $12,681.14. Change any input above and every figure here is recalculated in your browser.

Inputs used

Original list price when newminimum 0 $: 32,000 $
Ageaccepts 0–30 years: 5 years
Odometer readingminimum 0 km: 92,000 km
Expected distance per yearminimum 1,000 km: 15,000 km
Annual depreciation rateaccepts 1–40 %: 15 %
Condition and history adjustmentaccepts -40–20 %: -5 %

Results

Estimated fair market value: $12,681.14
Value from age alone: $14,198.57
Adjustment for mileage versus expected: -$850.00
Share of original price retained: 39.6% %

Step by step

1Values used
2Value from age
3Mileage adjustment
4Estimated fair market value= $12,681.14
5Value from age alone= $14,198.57
6Adjustment for mileage versus expected= -$850.00
7Share of original price retained= 39.6 %

Assumptions and limits

The result is derived only from the 6 inputs listed above. Anything not among them is not part of the calculation.
In particular, this calculator does not take inflation, tax or fees or charges into account.
Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
An indicative estimate only. Actual market value depends on local demand, specification, service history, condition, accident record and outstanding finance. Obtain a professional valuation and history check before transacting.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

An indicative estimate only. Actual market value depends on local demand, specification, service history, condition, accident record and outstanding finance. Obtain a professional valuation and history check before transacting.

Frequently Asked Questions

Is five cents per kilometre right?

It is a working average for a mainstream car. Premium and performance models are penalised more heavily for high mileage, and very low-mileage examples can attract a premium above this.

Why geometric depreciation?

Because cars lose a percentage of remaining value each year rather than a fixed amount, which is why the first year is by far the most expensive.