How to Calculate Vehicle Depreciation Costs and Who to Claim From?
3 Answers
Vehicle depreciation cost is calculated using the following formula: {〔Vehicle Price (RMB) × Mileage (Km)〕/1000} × n%. The usage compensation coefficient n is determined by the manufacturer between 0.5 and 1 and is explicitly stated in the warranty certificate. If the other party is fully at fault, the repair costs for both vehicles will be covered by the insurance company of the at-fault party. The involved party can file a claim with the insurance company by providing the accident liability determination certificate issued by traffic police, mediation agreement, copies of the driver's licenses, vehicle registration certificates, and compulsory traffic insurance of the involved vehicles. Additional Information: 1. Physical Depreciation Rate: The physical depreciation rate of a motor vehicle, also known as the obsolescence depreciation rate, refers to the ratio of the vehicle's current physical condition to its brand-new state. The physical depreciation rate reflects the degree of wear and tear or performance degradation of the vehicle, indicating its level of obsolescence. 2. Newness Rate: The newness rate of a motor vehicle refers to the ratio of the vehicle's current physical condition or performance state to its brand-new state. The newness rate indicates how new the vehicle's overall condition is, serving as an indicator of the assessed vehicle's level of wear and tear.
I've been driving for over ten years and have encountered vehicle depreciation costs a few times. Generally, calculating depreciation involves considering the car's original price, years of use, current market value, and the impact after an accident. For example, if your car was originally worth 100,000 yuan and depreciated to 70,000 yuan after 5 years of normal use, an accident might drop its value straight to 50,000 yuan—this difference is the depreciation cost. Who should compensate you? Typically, it's the at-fault party in the accident. If they're fully responsible, they or their insurance company should cover it. I recommend first getting the other party to admit fault, then obtaining a professional appraisal report and keeping repair invoices and photos as evidence. If the other party refuses to compensate, you may need to take legal action, possibly hiring a lawyer to help with the lawsuit. In daily life, regular car maintenance can reduce the risk of accidents, saving you the hassle of dealing with these issues. Remember, safe driving is always the top priority, and after an accident, don’t rush into a private settlement to avoid getting shortchanged.
I had a minor accident not long after buying my car, and calculating the depreciation cost is quite a headache. Simply put, depreciation means the car is worth less after an accident, so how should it be calculated? I looked up some information online, and many use the vehicle's age, mileage, and damaged parts to estimate the loss amount. When seeking compensation, the first step is to determine who is at fault. If it's the other party's fault, you can directly claim from them; if they don't have insurance, you can pursue personal liability. I also consulted the 4S shop, and the technician said it's best to follow the insurance company's process—submitting an accident report can initiate the compensation. It might be overwhelming the first time you encounter this, but don't be afraid of the hassle. Gather evidence and handle it promptly. By the way, a reminder: new drivers should study traffic rules more to reduce the chances of such incidents.
