A car has, during its useful life, substantial changes in its value. From value back to market value. In this article we will see how to calculate the market value of a car and what it is based on.
The market value of a car is, without more, the theoretical maximum price that a given car can reach in the second-hand market . The exact value will depend on a number of factors, not just the “age” of the vehicle.
On the other hand, the market value is the reference used by most insurance companies to establish compensation in the event of a claim or theft. This value can be increased if the installation of extras can be demonstrated, for example.
How to calculate the market value of a car
To carry out this calculation, we must first take into account the information offered by the Ministry of Finance through tables. The one that corresponds to this year is this . In these tables we must find the exact model of our car to find the exact market value data.
There are online calculators of the market value in which we will indicate the type of vehicle and if it has been damaged or stolen along with the date of the first registration (which determines the age of the vehicle).
Next, we enter the brand and model, the version (that is, the finish and the type of engine, displacement, etc.) and a result will appear that is, simply, the percentage of the official value published by the Treasury depending on the years of the car. The scale is as follows:
- Up to 1 year: 100%
- More than 1 year, up to 2: 84%
- More than 2 years, up to 3: 67%
- More than 3 years, up to 4: 56%
- More than 4 years, up to 5: 47%
- More than 5 years, up to 6: 39%
- More than 6 years, up to 7: 34%
- More than 7 years, up to 8: 28%
- More than 8 years, up to 9: 24%
- More than 9 years, up to 10: 19%
- More than 10 years, up to 11: 17%
- More than 11 years, up to 12: 13%
- Over 12 years: 10%
There is something else, and that is that if the vehicle was used for professional purposes, such as in a driving school, as a taxi, or similar, a further reduction must be applied. According to the Treasury:
The amount resulting from the application of the above percentages will be reduced to 70% when the transmitted vehicle had been exclusively dedicated for more than six months from the first definitive registration, to driver training activities through consideration or vehicle rental , without a driver, or had the status, according to current legislation, of a taxi, autotaxi or self-tourism.
So we already have all the necessary data to calculate the market value of a car , either to put it on sale in the second-hand market, or to know what to expect in the event of an accident, theft, or similar.