What is Car depreciation?

 

 

 Car depreciation is the reduction in cars’ value which is cause by wear and tear. When you buy your car, as years goes by, your car will be loosing its value like the engine getting older and other parts of your vehicle due wear and tear. That’s the reason why you can’t resale your car the amount you bought it due to the fact it’s has been used and its market value reduced. That is called car depreciation. Depreciation is the main reason why you sell your used cars at lower value per what you purchased it.

 

Auto depreciation is also considered by insurance agencies when filing claims.

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My name is Kingsley Chukwuma and your web tutor, car insurance expert adviser and webmaster. Am so happy to assist you make a perfect plan and decision in buying auto insurance and I do hope you will find the content of this site extremely helpful in making your decision about buying car insurance. Let me quickly state my educational qualifications. Am a Bachelor’s Degree holder in Economics and also a Master of Business Administration. I have attended many seminars and delivered papers on car insurance. in addition, I have also written articles and have worked as an expert in the field. To learn more about me, visit About page. Thank you for your time and enjoy the content of this site.
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