Forget servicing and fuel costs, vehicle depreciation is the biggest whole life motoring expense. Whether it is a new or used car, most vehicles depreciate at a similar rate. This is not usually a problem unless you are forced into changing your car unexpectedly, as happens if your vehicle is stolen or written off. But because car insurance differs from many forms of insurance and is not a 'new for old' policy they will only cover the value of your vehicle at the time of loss, not what you paid for it and probably not what it will cost to replace. This may leave you a shortfall of £000's to find a suitable replacement.