What is the depreciation rate for car?
Normally, the value of a car depreciates around 15%-18% in a given year. If you want to estimate how much value your car has lost, simply subtract the car's current fair market value from its purchase price, minus any sales tax or fees, you will get the value of your car.
What is the depreciation value of a car after 5 years?
What is the IDV or the depreciation percentage for car insurance every year? The IRDAI fixes the depreciation rate based on the age of the vehicle. While it is 5% for vehicles less than 6 months old, vehicles less than 1-year-old, the rate is 15% and thereafter it is 20%, 30%, 40%, and 50% every year.