Calculate the true fair market value of used cars and two-wheelers in India (Maruti, Hyundai, Tata, Honda, Mahindra, Hero). Factors in age depreciation schedules (0-1 yr: 15%, 2 yr: 25%, 3-4 yr: 38-48%, 5+ yr: 55%+), odometer km, and market demand.
Insurance Regulatory and Development Authority (IRDAI) vehicle depreciation matrix adjusted for market mileage.
Ex-Showroom: ₹9,00,000 | Age: 3 Years | Odometer: 35,000 km
A new car loses approximately 15% value in year 1, 25% by year 2, 38-40% by year 3, and over 50% after 5 years, depending on brand resale demand.