How To: Calculate Your Car Depreciation

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[TheRideshareHub]

If you enjoyed this video, please, give it a THUMBS UP 👍🏻 Thank you!

[pongoellis]

Uber actually made an 8 thousand dollar error on my 1099, I made 8 grand less then they reported. I wasn't expecting that type mistake from them. Great video thnx much!

[mariajones]

Thank you so much for making this video. I'm new at ride sharing. I've been picking my brain on how to figure this out. Also to figure out if I'm actually making any money after the depreciation. I'm gonna do my calculation. Keep the videos coming please.

[HigherStandardsKY]

The car depreciation is calculated using either a flat line depreciation of 20% for 5 years, 25% for 4 years or you can use accelerated depreciation or depreciate the total cost of the vehicle using tax section 179.

[ghostrider]

When my friend needed to go number 2, he would tell me his butt was going to throw up.

[johndough]

Its more about the age of the vehicle rather than mileage. Mileage is how car dealers fake customers into paying more. This is why you never want to buy any car newer than 2 but 3 years better for RS. The older the better actually. But if you avoid the depreciation wave in the first few years the rest is minor. I have a Prius and my car's value has gone up despite adding miles. i paid correctly and it gets 50 mpg so people want it. I also have a van which I paid similar and has already lost most of its value anyway. The dif between the 75K on it now and 175k in a few years will not matter for dick on the resale value (it will suck). It could have 100 or 175 won't make a bit of difference.

[PicoFromTX]

Hey man, I have a 2016 Mazda 3 S touring I got used last year with about 45k miles.
Have you had any major issues while hitting that 120k ?
I'm almost at 58k after doing rideshare, but I only do it part time.

[DimMyPrp]

Unfortunately you've forgotten to bring in maintenance costs and repairs.
8000 $ loss + ? $ maintenance + repairs / 80, 000 mi = ???

If you had bought an much much older car (or with more milage) for 2, 000 $ therefore spent 2, 000 $ or more on repairs every year, you would have had nearly the same costs.

At least so far and with no outstanding repairs I don't think 0, 10 $/mi are that bad?!

...Well, converted and compared to costs in Germany (0.054 €/km + maintenance)

[ocrideshare]

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[steverz]

Is 44, 600 miles considered allot of miles for an August 2017 Ford Focus car??