RE: Sounds like you made a good decision paying premiums

Sep 25, 2020
4:49:46pm

TheLost Truly Addicted User

No.. Software developer.

But i've seen enough crazy insurance scams on CB to know people like to skirt the law when it comes to car insurance 🙂

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TheLost

Bio page: TheLost
Joined: Jun 30, 2017
Last login: May 4, 2024
Total posts: 19,114 (281 FO)

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Messages

Author

Time

How many of you actually save for your next car? I decided to put away a car

LaserCoug

9/25/20 12:23pm

I opened a separate brokerage account about 6 years ago for this exact purpose. I invest 2 car payments per month into

Pimpin4Paradise

9/25/20 12:26pm

I do the same thing..

TheLost

9/25/20 12:32pm

We've purchased our last 2 vehicles and motorhome in cash. We started

Sandy Lyle

9/25/20 12:30pm

Sometimes it doesn't make financial sense to buy cash. You might be leaving

El Fuego

9/25/20 12:32pm

I am more of the opinion that what's best for your money isn't necessarily what

EEcougar

9/25/20 12:36pm

If someone saved up to buy cash, they should have no problem paying it off in 6

El Fuego

9/25/20 12:48pm

Sometimes this is true, when purchasing from a dealership I had them

Sandy Lyle

9/25/20 12:37pm

Why would you ever pay cash for a car?

TheRealU

9/25/20 12:30pm

I don't like to have debt and liability only insurance is nice.

Sandy Lyle

9/25/20 12:31pm

Why? I have never understood the fear of debt.

TheRealU

9/25/20 12:35pm

There is value in not being a slave to debt

9/25/20 12:42pm

This could come back and bite me, but I also only pay liability only for my

Sandy Lyle

9/25/20 12:42pm

Very good point. I don't gamble on my car insurance.

El Fuego

9/25/20 12:50pm

I also have only purchased used and haggle the price. I know it's not

Sandy Lyle

9/25/20 12:33pm

I am with you there - I am all about buying the 2 year old car/toy

TheRealU

9/25/20 12:36pm

An asset is anything that puts money in your pocket. A liability is anything

9/25/20 12:39pm

So I don’t have to pay for full insurance coverage

Acorn

9/25/20 1:18pm

So you don't get full coverage on a $30-40k car? Seems like a gamble.

TheLost

9/25/20 1:39pm

Everyone should have as large a deductible as you can afford.

Acorn

9/25/20 1:53pm

Your math doesn't add up..

TheLost

9/25/20 2:13pm

Insurance math. It isn’t what you think

Acorn

9/25/20 4:02pm

RE: Insurance math. It isn’t what you think

TheLost

9/25/20 4:32pm

Sounds like you made a good decision paying premiums

Acorn

9/25/20 4:47pm

RE: Sounds like you made a good decision paying premiums

TheLost

9/25/20 4:49pm

Collision nor comprehensive are statutory requirements

Acorn

9/25/20 5:03pm

I set aside a little money each month

Virginia Ute

9/25/20 12:31pm

I did that. Several years ago I decided to lease a car. I only had it about a year but kept the direct deposit

kccougar

9/25/20 12:31pm

I bought used for myself last time because no payment. I would be the same as

Idahofallsblue

9/25/20 12:32pm

I just save. Then I use that money when I want for what I want. Also, I never spend a lot on a car so the need to save

Baron

9/25/20 12:33pm

I don't plan on ever getting a car loan again.

Sea Chicken

9/25/20 12:33pm

Nah, interest rates are so low that I just finance and don't look back

cougarblue

9/25/20 12:34pm

We bought our last car with cash. We haven't been saving, but probably will at

cougaman

9/25/20 12:36pm

I knew what I wanted in a car, had cash in the bank to buy if I bought a lo mile

Tarbo

9/25/20 12:39pm

I saved and then double how much I really wanted to buy to fit in with neighbors

ordinary tri guy

9/25/20 12:46pm

I saved up for a new truck several years ago

CBaass

9/25/20 1:03pm

This is a great example how people's car spending delays their retirement substantially.

Baron

9/25/20 1:07pm

Yep. You can sacrifice cars, vacations, toys, etc and cut some years off of

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