The average vehicle will lose about 60% of its original value after 60 months, according to Kelly Blue Book. However, some cars, trucks and SUVs can outpace this average and retain more value down the road. In the case of a total loss, an insurance settlement is based on the car's actual cash value, which factors in depreciation for age, mileage, physical condition and other factors. The vehicle's true value can also have an effect on GAP insurance payments for those with that coverage. Currently, GAP insurance writers are experiencing a favorable claims environment and loss ratios are positive. This is due to supply chain issues slowing automakers' production as well as higher demand for vehicles because of stimulus payments, enhanced tax credits and low interest rates, according to AmTrust Financial. "As long as new car production lags behind, supply will not meet consumer demand and used car values will remain high leading to strong GAP loss ratios," writes Frank Amendola is senior vice president, underwriting, for AmTrust Warranty and Specialty Risk. "However, we know this is not sustainable. It is a fair assumption that in 2022 or 2023, chip production, and correspondingly, car production, will move closer to pre-pandemic levels. As that occurs, used car values will come down, which will drive insurers' settlement amounts to be lower and GAP payments will rise sharply." The above slideshow highlights the current-year makes and models that are expected to best retain their value over a five-year period, according to Kelly Blue Book. Related: |

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