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nunya
LXI 483
Premium,MVM
join:2000-12-23
O Fallon, MO
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reply to inGearX

Re: Sandy ... mom GAVE AWAY her damaged car :/ help analyze!

It's very unfortunate. There's nothing wrong with driving a 10 year old car and paying to maintain it. Even if you spent $2500 / yr, it would be cheaper than buying a new car and making payments, full coverage, taxes, etc... It's almost always "cheaper to keep 'er".

What really sucks is if you are not in a financial position at this time to replace it (not many people are).

I think your mom did the right thing, and I do not think she got ripped off. I think she got a fair price considering the circumstance.

Here, if water goes over the door sill and entered the vehicle, it is considered "FLOOD VEHICLE" title. If the estimated cost to repair is over 33-1/3% of the value of the vehicle, it is considered "SALVAGE".
True story, my sisters first car was bought at a dealership owned by a friend. When we got home, there was a message on the answering machine from the dealer. They said to bring the car back. It can't be sold in Illinois. It had been in a flood.
--
If someone refers to herself / himself as a "guru", they probably aren't.


BonezX
Basement Dweller
Premium
join:2004-04-13
Canada
kudos:1
said by nunya:

It's very unfortunate. There's nothing wrong with driving a 10 year old car and paying to maintain it. Even if you spent $2500 / yr, it would be cheaper than buying a new car and making payments, full coverage, taxes, etc... It's almost always "cheaper to keep 'er".

i tried telling that to my bank once, it turned into
"why don't you get an auto loan for a new car, and pay that off"
"because i would need full coverage insurance for the life of the loan, as well as it would cost more then most used cars for me to get that insurance"
"but you have to keep putting 1k in your car each year, why would you keep it"
"because i would have to pay 4k a year for the next 4 to get another car, and then another 1k a year for repairs on that car"

this went on for an hour, i hung up on them.
said by nunya:

True story, my sisters first car was bought at a dealership owned by a friend. When we got home, there was a message on the answering machine from the dealer. They said to bring the car back. It can't be sold in Illinois. It had been in a flood.

at least they told you, there were people that tried to sell salvage titled cars from the states up here as "good to go" vehicles.