It’s crazy to think that a new car loses value as soon as you drive off the forecourt and by the end of the first year will have lost around 40% of its value! These are the statistics from the AA and though this is a rough guide, the depreciation rate varies a lot so at best you may lose as little as 10% after your first year. So what about your car then? If you’ve owned your vehicle for three years, you could face a depreciation rate of around 60%. Having a car lose that amount of worth in just three years seems ludicrous but of course it will depend on the condition of the vehicle and mileage too. It’s always important to have a look around when you’re selling your car; after all, this is the best way to discover your vehicle’s true worth. If you’ve seen somebody else sell the same model with similar mileage and similar body condition for £3000 you know that’s the ballpark you’ll be aiming for.