How much will my car depreciate?
According to a 2019 study, the average new car depreciates by nearly half of its value after five years. However, different cars depreciate at different rates, with SUVs and trucks generally holding their value longer than other types of vehicles. Used cars also depreciate slower than new ones, keeping more of their resale value in comparison.
Auto depreciation calculator
Use our car depreciation calculator to estimate how much your vehicle could decrease in value each year over the next six years.
This calculator is for illustrative and educational purposes only. Its accuracy and applicability to your circumstances is not guaranteed. You may wish to consult your own adviser regarding your particular circumstances.
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Current Progressive customers
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New Progressive customers
Quote auto insurance online or call 1-866-749-7436 to insure your new car.
You might also consider adding loan/lease payoff coverage. This coverage pays the difference between your loan/lease amount and the value of your car if it's totaled in a covered accident.
Looking for more information about auto insurance? Our car insurance resource center and car buying calculators have you covered.