cool things with wheels, since 2006
insurance companies are under no obligation to pay more than the vehicle is worth.If youre foolish enough to owe more than a vehicle is worth, thats your problem,I think you can purchase GAP insurance that covers the difference between what the vehicles is worth and what you owe on the vehicle.I have never and will never purchase a brand new vehicle , mostly because of the tremendous depreciation.
You're pushing some animosity this way Dan. Easy on the contempt for us foolish people that can only afford the type of new car that depreciates, because we love great gas mileage, the latest gadgets like back up safety cameras, airbags, and incredible sound systems. We can't afford the new cars that Appreciate in value. Millionares can afford those. Us under 20 an hour people are lucky to get to buy a new car for under 25 thou, and it depreciates exactly at the same rate as we make payments, and never equals the value until it's worth around 4 or 5 thou, about the time it's paid off, and used up, and then we start over so we have a new car with a warranty, and a new car with zero problems. Completely trouble free. Good for 100,000 problem free miles. I've bought a series of used cars too, the kind you constantly have to listen to and feel, expecting every moment to find another problem and broken part that needs replacing. Because that is what used cars are. Problems waiting to be fixed. I've had 2 used trucks, and 5 used cars, working my way up from junk with primer gray paint to my 69 R/T that's ready for a car show, or a drag race. Or just to get groceries for fun. It's only appreciating because it's a 1969 collectible car that's slightly in demand and I bought it for a decent price before things got out of hand.
Someone in Forks Wa. hit three Elk last week, their car looked even worse.Good thing it was a newer model with crush zones,I believe they got away with minor injuries..