Due to historically high used vehicle values, today's GAP insurance claims are very favorable, but that could change once supply chain issues are resolved. Learn how this market fluctuation impacts today's costs and why it is crucial to adapt business practices to prepare for future shifts. (Credit: VanderWolf Images/Shutterstock.com)
A new vehicle starts to depreciate as soon as it is driven off the car dealer's lot. According to the Insurance Information Institute, a car's value can go down 20%-30% in the first year and continues to decline over the time of ownership.
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