“The actual cash value is the cost of the vehicle minus depreciation. Since your vehicle is brand new, its cost will most likely be based on the manufacturer’s suggested retail price (MSRP).
The insurance company will need to determine the amount of depreciation and subtract that from the MSRP. And yes, the Tucson has lost some value, even after just one day.
Since your vehicle is financed, the biggest concern will be whether the actual cash value will cover the amount remaining on your loan. Since you made a down payment—and if you got a good deal on your Tucson—you may be less likely to owe more on your vehicle than it is worth.
If you have gap insurance
, this would protect you in the event that the value of your vehicle is worth less than what you owe.