wad is depreciation?

Vigelic SG

can somebody tell me what is depreciation for the vehicle? like example if the vehicle was bought in 2004 at a price of S$250,000, how do i know how much is it worth right now?

sorri, i know how to google, but i juz dun geddit, can someone explain in simple english?

eeden. SG

depreciation at what rate?
no head no tail.

Vigelic SG

got rate de? how i know is what rate?

<(0))>< SG

depreciation means ur car decrease in value lor
due to several factors such as wear and tear of the vehicle or becoming obsolete
usually there is a rate at which an asset get depreciated and there are different ways
of calculating it.

Vigelic SG

and the different ways are....? >< sorry

mlmersrlosers SG

some ways are: Depreciation methods based on time
           Straight line method
           Declining balance method
           Sum-of-the-years'-digits method

    Depreciation based on use (activity)

deepak.c SG

Depreciation is just an estimation of the value of an asset, whatever is left after cost less depreciation is never the true price of the asset.

To know how much your car is worth, get a car dealer to give you a conclusive price.

a-Lost-9uY SG

say ur car cost 50k..

drive 10yrs..

so yearly depreciation = 50k/10yrs = 5k per yr..

aft 1st yr, e car value = (50-5)k = 45k left..

n oncoming yrs are e same..

jz an example..

nOrmalbOi SG

50k? Didnt know an E46 325 cabrio costs so little nia...

Simple way of counting is to count the total cost of the car + the payable interest, if any, then divide by 10.

Another way to know how much the car is worth now is to take a look at sgcarmart for similar models registered at around the same time as yours.

Want change to simi car?

Vigelic SG

lol u still rmb uh ? no luh i juz asking cos sumone ask me how much issit worth now and i dunno anithing

lianamaster SG

can somebody tell me what is depreciation for the vehicle? like example if the vehicle was bought in 2004 at a price of S$250,000, how do i know how much is it worth right now?

sorri, i know how to google, but i juz dun geddit, can someone explain in simple english?

You will first have to get the current value of the car. Subtract the 2 values to get the difference and divide that figure by the number of years of the car. The result will be the depreciation. As for obtaining the final value of the car, you either have to get a quote from the dealer or obtain the owner's details and log in to onemotoring website to get the rough value.