Calculate the current market value of a car
The current market value of a car is the amount your car is worth right now, taking depreciation into account. The current market value depends on factors such as the year it was manufactured, the number of kilometers driven, additional accessories, and wear and tear.
Check the current market value of your carCalculate the current market value of your car
The current market value is the amount a car is worth right now if you were to sell it today. A car's current market value is calculated based on a number of factors.
These include, for example:
The make and model of the car
The car's model year
The car's current mileage
Condition of the Car
Claims History
Accessories and Extras
Supply and Demand in the Market
You'll need the current market value if your car is totaled or stolen. It's also useful to know when buying or selling a car.
Sample Calculation: Current Market Value of a New Car
Immediately after buying a new car, you lose a significant portion of its current market value. Suppose a new car has a purchase price of €25,000. As soon as the car is registered in your name, it becomes a used car. Its value may have already dropped to €22,500.
The current value may vary from day to day
The market value of a car can change from day to day because it is a snapshot in time that depends on several factors. Is there high demand but low supply for a certain type of car? Or is there a shortage of used cars? If so, the market value may be (temporarily) higher.
Changes in demand for certain types of fuel, economic developments, or new environmental regulations can also affect a vehicle’s value. For example, the value of a diesel car may suddenly drop if cities introduce stricter environmental zones.
Calculate a car's current market value based on its license plate number or make and model
The easiest way to calculate your car's current market value is to enter the license plate number into our tool, where you can also see your car insurance premium.
Based on the license plate number, a lot of information about the car can already be retrieved, so you don't have to enter it manually. This makes it easier to provide a good estimate of the car's current market value.
Calculate a car's current market value by make and model
Don't have the car's license plate number handy? You can also calculate the current market value without the license plate number. However, you'll need to know the year the car was manufactured, as well as the make and model.
Calculate the current market value of a used car
Are you considering buying a used car and want to find out what its current market value is? The ad often already includes much of the information you need to calculate the current market value. Calculating the car’s current market value gives you more insight and puts you in a better position to negotiate.
The Value of Your Car and Insurance
If you want to purchase auto insurance, it’s a good idea to take the current market value into account. For a car with a low current market value, you’ll often choose a less comprehensive auto insurance policy than you would for a car with a high current market value. This means you’ll pay a lower premium.
Insuring a Car at Replacement Value
If you have a (relatively) new car, you won’t settle for the current market value in the event of a total loss. After all, you can’t buy a new car for that amount. Insurers offer a replacement-cost coverage option for this situation.
For a certain period (between 1 and 3 years), you will receive the car's replacement value if it is declared a total loss.
Insuring a Car at Its Purchase Value
When you buy a used car, you can insure it for the amount you paid for it (up to a maximum of €50,000). If you have an accident or the car is totaled, you’ll be reimbursed the purchase price—rather than the current market value—for a certain period of time. The purchase price is usually higher than the car’s current market value.
When comparing car insurance policies, you may want to consider whether to include the replacement cost coverage or the new car value coverage . In the event of a claim, these coverage options can make a significant difference.
Calculating Current Market Value in the Event of Damage or an Accident
If your car is damaged, its current market value is important. Usually, damage to your car is repaired. But if the repair costs more than the current market value, your car will be declared a total loss. You will then receive the current market value as compensation. That’s why it’s good when the current market value is high.
Determining the Current Market Value in the Event of an Accident
In determining the current market value is based on the estimated value immediately prior to the accident. Determining the current market value is not an exact science. An expert estimates this amount. Do you have recent photos of your car? These can certainly be helpful in determining the current market value.
In this regard, attention is paid, among other things, to the following factors that determine value:
The list price. What was the car worth when it was new?
Age of the car. The older the car, the lower its current market value.
Make and model. The rate of depreciation for a car can vary by make and model.
Mileage. A car with high mileage has a lower current market value.
Accessories. Accessories you’ve added yourself can also increase the car’s current market value.
Overall condition of the car. Did the car already have damage before the accident, and how well has it been maintained? This can make a big difference when determining the current market value.
Frequently Asked Questions About Your Car's Current Market Value
How is the current market value of my car calculated?
The current market value is determined based on factors such as make, model, year, mileage, maintenance history, accident history, and accessories. Market supply and demand also play a role. This provides an up-to-date estimate of what your car is worth today.
Why is the current market value important in the event of damage or theft?
In the event of a total loss or theft, the insurer will usually pay you the current market value. That amount represents the estimated value of your car immediately before the incident. It therefore determines how much you can recover from your insurance.
How quickly does a new car lose its value after purchase?
The market value decreases immediately after purchase. A car that costs €25,000 may already be worth €22,500 at the time of registration. Depreciation is greatest in the first few years, after which it levels off.
Is the current market value of my car the same as its resale value?
Not always. The market value is an objective estimate of the car's worth, while the sales value can vary depending on negotiations, a trade-in, or a sale to a private individual or dealer.
How does the current market value affect my auto insurance?
The market value often determines the type of insurance. If the market value is low, you’re more likely to choose third-party liability insurance, while a high market value justifies third-party liability plus or comprehensive insurance. The premium is also tied to the car’s market value.
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