It's a fantastic feeling to buy a new car, however, not so fantastic is the fact that as soon as you drive it off the forecourt it starts to depreciate and lose value.
The issue that arises as a result of this drop in value is that your car insurance provider will usually only pay the current market value of the car should you write it off. This means there could be a 'gap' between the payment you receive and how much you still owe on a loan or how much you'll have to pay for an equivalent car.
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