Talk about depreciation! Check out the damage to the car, I would never imagine this would get totaled.

A car insurance firm has left an Arizona motorist thousands of dollars in debt after it refused to pay out on a claim because he paid 60 cents less than he should have for his $60,000 car.

His credit union accidentally sent the dealer a check for $60,517.26, or 60 cents less, but it went unnoticed until November last year when his car was totaled, and his insurer Safe-Guard Products used the discrepancy as an excuse not to pay up.

He still owed $45,000 on the car but the insurance company sent him a check for just the $26,709 it would have been worth at the time of the crash.

They told him the amount charged for the car, and the amount paid, had to match to the penny for the gap policy to be valid, leaving him with no car and an outstanding debt of $18,651.

dailymail.co.uk