Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
NJ is right. The blue book on a twelve-year-old TL, even a well maintained one, is about $2500. There is probably $5k of damage to the passenger side of the vehicle.
I'm not allergic to a car note as such, but I have several older cars in good condition, paid for, and don't particularly like current production, so I don't think I will be carrying a car note any time soon. Of course I wrote off "current production" in 1973, and was pleasantly surprised by the cars of the late 80's, so it's possible there will be new cars that appeal to me at some future time.
But, hey, if you have limited mechanical skills, or just want a new car, and you can get a good low interest loan on it, particularly if you have the money to pay it off, but can get more interest on it in investments than you pay on the loan - what's wrong with that?! Getting more interest than you pay seems to me to be a very frugal thing.
Former Californian...sorry about the accident but glad that you are well enough to post. Couple of things here from when I interned a summer with an insurance claims office: some insurance stipulates that the claimant can actually demand a car (same make/model with similar mileage) instead of the cash payment. That might be a good alternative for you if you are not in a position to spend $$ on a new car right now. You can stipulate that the insurer find you the same car but that you will only consider vehicles with a clean CARFAX (never been wrecked/flooded/etc...). And another point..... as a Christian, I never encourage dishonesty or untruthfulness but there is a systematic formula for claimant payments. The property damage is pretty cut and dried. It isn't fair that, due to no fault of yours, you are now in a position to have to go into debt to provide transportation for your family. Insurers kind of bank on the fact that claimants will automatically "run up" the medical expenses to make up some of the gap from the property loss. I don't like the system but that is the way it is. Personal injury payments are typically 3x total medical bills. At least that was the expectation and formula 20 years ago. Hope the information helps you some....good luck.
I haven't had a car payment since the late 80's, but I finally put my 30YO car up for sale after my last repair, after it took so long getting parts, and my mechanic telling me of the difficulty and expense in locating older parts. That put a scare into me!
I still have my 27YO Toyota Supra, and I hope to keep that running as long as possible.
But the temptation has always been there to buy a new one. I'm very fussy about looks, and some day, if the looks are there and price is right, I may cave in.
The Mini Cooper is right there at the top for a temptation! And that new Fiat!
Former Californian...sorry about the accident but glad that you are well enough to post. Couple of things here from when I interned a summer with an insurance claims office: some insurance stipulates that the claimant can actually demand a car (same make/model with similar mileage) instead of the cash payment. That might be a good alternative for you if you are not in a position to spend $$ on a new car right now. You can stipulate that the insurer find you the same car but that you will only consider vehicles with a clean CARFAX (never been wrecked/flooded/etc...). And another point..... as a Christian, I never encourage dishonesty or untruthfulness but there is a systematic formula for claimant payments. The property damage is pretty cut and dried. It isn't fair that, due to no fault of yours, you are now in a position to have to go into debt to provide transportation for your family. Insurers kind of bank on the fact that claimants will automatically "run up" the medical expenses to make up some of the gap from the property loss. I don't like the system but that is the way it is. Personal injury payments are typically 3x total medical bills. At least that was the expectation and formula 20 years ago. Hope the information helps you some....good luck.
We are all fine. No injuries thanks to our seat belts.
We can afford to purchase a new car without taking on any debt. I just don't want to do it because I honestly hate driving, and we have better things to do with our money than buy another stupid car. Unfortunately, one of the risks of living a car-dependent lifestyle is exactly what happened tonight, and now we will bear the consequences. It sucks, but it's life.
Thanks for sharing your experience with insurance. I will take your suggestions under advisement.
We are all fine. No injuries thanks to our seat belts.
We can afford to purchase a new car without taking on any debt. I just don't want to do it because I honestly hate driving, and we have better things to do with our money than buy another stupid car. Unfortunately, one of the risks of living a car-dependent lifestyle is exactly what happened tonight, and now we will bear the consequences. It sucks, but it's life.
Thanks for sharing your experience with insurance. I will take your suggestions under advisement.
I'm so sorry!
You're very probably going to be sore tomorrow. If it doesn't ease up quick, see a doctor just to be on the safe side. I was hit years ago, and a lawyer customer scared me half to death over the things he'd seen after accidents..... and I felt much better after the doc confirmed I was okay. But it really is best to not take chances.
its not a fun process for me. but im going to do the negotiating and running around without my wife present. that will make it easier for me to walk away from the deal when they try to screw me.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
