Since last update one month ago, I drove 1,400 miles and my car mileage is now 36,800. (For new readers of this site, I started a monthly habit to track my car value since October.)
Here is the current value of my Camry 2000 LE according to Edmunds.com:
I must say compared to prior months this month sees a pretty rapid drop of my car value. For comparison purpose here is a breakdown of my monthly car value record (using Trade-In Value only):
Month
Trade-In Value
Monthly Change
Change vs Oct 2003
Avg Monthly Change
Odometer Reading
Monthly Usage
Change vs Oct 2003
Value Loss Per Mile
Book Value
Trade-In as % of Book
Oct-03
$11,711
32,200
$10,050
117%
Nov-03
$11,628
$(83)
$(83)
$(83)
33,400
1,200
1,200
$(0.07)
$9,875
118%
Dec-03
$11,752
$124
$41
$21
34,100
700
1,900
$0.01
$9,700
121%
Jan-04
$11,353
$(399)
$(358)
$(119)
35,400
1,300
.3,200
$(0.04)
$9,550
119%
Feb-04
$11,044
$(309)
$(667)
$(167)
36,800
1,400
4,600
$(0.04)
$9,400
117%
Two findings out of the table:
1) By simple math, each additional mile driven equals to 4 cents of additional depreciation. (Of course the relationship is not linear -- car value will drop over time even it is locked in the garage all the time.)
2) My bookkeeping is still conservative: the trade-in value is 17% higher than the value I reported in my monthly net worth report. (This fact is comforting that I don't over-estimate my net worth over time.)
Update of Car Value - 4/8/2004(April 08, 2004)
I cannot believe I drove 1,900 miles in the last 30 days! As my Camry tops the 40,000 mile mark, here is the corresponding value reported by Edmunds:
Read
Update of Car Value - 3/4/2004(March 04, 2004)
The month of February saw another 1,300 miles on my car. With an odometer reading of 38,100, here are the resale values listed by Edmunds:
Read
Update of Car Value - 1/7/2004(January 07, 2004)
As a monthly check-up, I'm updating my car value here. I drove quite a lot last month and my odometer now reads 35,400, or 1,300 miles for the last 30 days.
Here is the valuation compared to my first checkup back in October.
Read
Update of Car Value - 12/5/2003(December 05, 2003)
This is the third time I keep track of the monthly depreciation of my car. (See the last two times here and here.) My odometer reading is now 34,100; I drove approximately 700 miles for the month. Read
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