Car just exploded, insurance company won't do a thing to help and I still have a year to pay it off

Car just exploded, insurance company won't do a thing to help and I still have a year to pay it off.

Cheer me up or kick me while I'm down. Dealer's choice.

How did it explode

Cars don't explode.

Lying faggot.

Car just exploded, hmm your fault or no fault of your own?

He probably worked out some huge plan to get out of debt with his new tangled car exploder

>loses car
>doesn't get insurance money

If video games have taught us anything, someone must have sprayed some bullets at the car's gas tank

wasnt that the picture from the news when note 7 "destroyed" someones car?

>buy good insurance
>don't buy new
>don't buy on credit
>if you're dumb enough to buy on credit, buy gap insurance

inb4 "wahh, I'm too poor to pay cash for a car, nobody does that! Everyone buys on a car loan! You're stupid!"

"Poor" is often a misnomer, it's more accurate to say that they're stupid. "A fool and his money are soon parted."

Buy a used Jap economy shitbox (think 10 year old Honda Civic or Toyota Yaris), as they're generally fucking indestructible, and get good insurance. Start saving the money you would have been spending on a car loan and put it into a money market or high-yield savings account. When you have enough money, sell the shitheap and buy a nice car.

Bring on the hate, faggots
>user is a fag who doesn't understand deficit finance
>must be easy to tell others how to spend their money
>I bet he's a Republican

Stay poor, retards. Remember: in a huge majority of cases, poverty is a symptom of the real problem: stupidity.

>cancels comprehensive insurance
>torched car for insurance money

Winrar

Says the guy who frowned upon my gambling problem

aww someone took a dave ramsey class and thinks he knows shit about shit

Once shortly after changing his fuel filter my cousins Geo Metro fucking exploded
It began to breathe fire from the dash while he was driving and a few minutes later it had fucking exploded
I had always wondered what must have went wrong?

You don't need to take a Dave Ramsey class to figure this stuff out. It's common sense.

KEK! Obviously the filter was leaking, or had some malfunction, or he installed it wrong (was probably loose on the block, if you had fuel coming out of the dash). Not the piece of shit cars fault.

Consumer debt is like selling yourself into slavery. If everything you need to live is owned by someone else, you're basically a slave to them. What happens if you stop making payments? Or lose your job?

Now, please extol the virtues of willfully becoming a slave because you wanted a bigger truck to compensate for your tiny, permanently flaccid penis.

You've gone too far the other way faggot. You aren't a slave for having debt. When you buy something using debt, you still own that something even if there is a lien against it.

Don't take on debt to buy stupid shit because it's financially stupid, not because of some bizarre slavery analogy.

never understood why people buy things on credit
always seemed counter-productive

Most people don't have $15000 to lay down on an automobile

>fuel filter
>Geo Metro
That filter was worth more than the whole car

Depends on the thing you are buying and why you're buying it on credit. Sometimes it makes sense.

Then don't buy a $15000 automobile.

no fuck you i'm buying the $36,000 car i cant afford

Buy a new car and make America great again.

that's where you're completely wrong. you don't own shit. your creditor owns it until the debt is repaid. you think they won't repossess your car if you stop making payments? you think the title for the car is in your name?

sure is, especially when that investment depreciates in value.. not just slowly over time.. but rapidly.. depending on the vehicle.

I disagree. most people are fucking retards and don't want to live within their means.

if you aren't able to save $15,000, what makes you think you can afford to make payments on a $15,000 loan?

>2010+
>Not getting a vehicle loan that has a lime written in saying if the car is undriveable you don't have to pay the remainder
This is literally standard in any non shady cat deal.

catalytic converters can catch fire, I have a friend who has a limo business and has just lost a car to the cat catching fire .

I literally just bought a new 2017 Camaro 2SS on a loan. The vehicle I got the vehicle down to 42 with taxes here in Texas. I am only financing 25k. Honestly. I love credit and buying stuff with it.

>value depreciation
some cars lose half of their value the minute the leave the lot!

>you don't own shit
Yes, you do. You have the rights to it.
> you think they won't repossess your car if you stop making payments
It's called a lien.
>you think the title for the car is in your name?
Cars are a specific case where you might not be the legal owner, but that does not apply to debt in general.

Totally true. No one has any business buying a new car unless you're making an excess of 50k a year in a flyover state or 100k a year in a high cost of living state. And if you can't buy your car entirely with cash, you're fucking up. That monthly car payment will fuck your shit up financially.

I owned nothing but 1000 dollar decade-old jap beaters for the first decade of my work life and they treated me just fine. I've only just now got a car I actually like.

But lol at someone making 25k a year who thinks they can afford to buy a 10k car on credit.... that's how you wind up as an adult working 40 hours a week but still living at parents, only to get it repoed when you have some big disaster and can't scrounge up the 500 buck payment you owe per month....

Americans have a whole culture of buying shit they can't afford on credit and it *always* fucks them in the ass. Moral of the story is if you can't afford it today, you likely can't afford it tomorrow, so you just don't fucking buy on credit.

I have no credit card and I never will, it's a fucking scam. Eventually those credit dumbasses get the point that there minimum credit payment is literally their entire paycheck so they simply have to pay the minimum which cleans their bank account and then they can *only* buy things on credit, rinse and repeat next month.

first, don't buy a $15000 car
second, just don't buy things you couldn't afford in the first place

no it doesn't

>I have no credit card and I never will, it's a fucking scam
Only if you're clueless, which admittedly a lot of people are. If you aren't clueless, it's literally free money (for you).

>be me
>been using credit cards for over a decade
>never paid one cent in interest

If your car exploded, you can clearly sue someone. Likely you got a faulty model car that has quickly develops cracks in the tank or something like that. Look up a class action suit for that model, surely there's something. Or maybe your local mechanic did some fuel pump work or something and botched it.....

I guarantee if you play your cards right you can *at least* get the car paid down, but likely be up about 10k...

Cars don't just explode for no reason and if your's did, someone is liable. Even if you wrecked it, they should be engineered not to explode.

>no it doesn't
Yes, it does. It's called leverage and diversification.

>But lol at someone making 25k a year who thinks they can afford to buy a 10k car on credit... only to get it repoed when you have some big disaster and can't scrounge up the 500 buck payment you owe per month....

This. So much this. People don't save for a disaster. I experienced two catastrophic incidents in the same month which resulted in medical bills and vet bills... totaling nearly $7,000. It killed a bunch of my savings, but i still have a small emergency fund left. What happened to me would financially break most people for years.

>consumer debt
>diversification

debt is not an investment, you gaping fuckhole.

this.

Hint: Mortgages.

Debt actually is an investment from the lender side. From the borrower side, it isn't an investment, but it can be a tool for investing.

If you sink the bulk of your net worth into a house and then the house is destroyed, guess what? You're fucked.
If you sink a portion of your net worth into a house and then the house is destroyed, guess what? Less fucked (assuming a non-recourse mortgage, which most are).

From an investment standpoint, you are getting leverage to be able to generate more profit. There's a reason the banks do this themselves.

Sounds like you weren't properly insured. Sorry you're too stupid to read an insurance policy.

you are aware that mortgages generally aren't considered "consumer" debt, right?

mortgages, and debt that generates revenue are in an entirely different class.

Consumer debt is shit like cars, TVs, laptops, vacations, etc.

Consumer debt is NEVER an investment, and it's a good way to fuck yourself into paying too much for goods and services, and a good way to ruin your life if you're fucking stupid (and most people are)

This, bro. Cars don't explode and if yours did, someone is responsible.

Need more details, did you wreck it or how did it explode. Due to the fact that it *could* have killed you, you honestly might be able to get the equivalent of a year's pay out for this disaster.

Only way you could *not* get paid for this is if you did some shoddy work on the fuel lines or fuel pump or something like that. Otherwise, either the car manufacturer or some mechanic (who did bad work) owes you. They owe you big.

>you are aware that mortgages generally aren't considered "consumer" debt, right?
Considering the original comment merely said credit, that's irrelevant.

>From an investment standpoint, you are getting leverage to be able to generate more profit

translated: from an investmen stantpoint (meaningless filler) you are getting leverage (the bank lends to you) so that you can make more money on the investment.

No. The bank lends to you to make a fucking profit for itself.

Don't play bullshit bingo here

The bank lends to you to make a fucking profit for itself.
You borrow from the bank to make a fucking profit for yourself as well.
Win-Win.

well then i guess you win by technicality. clearly your information is highly relevant to the common man, and is completely representative of the types of debt the average person will incur.

btw, do you huff your farts in public? or only in private? i bet you sniff them from a wine glass, you prick.

That's why you've been driving that rust bucket? Bc Obama never told you not to

>high yield savings accnt
>high yield money market
You're a moron

The common man tends to look at getting a mortgage. They aren't usually doing it to get leverage, but it's still relevant.

>You borrow from the bank to make a fucking profit for yourself as well

Like when you borrow to buy a car? when you sell that honda shitbox after 10 years for the profit?

>high yield savings accnt
>high yield money market

Yes, srsly, moron detected.

You're either a troll or a retard. Cars are depreciating assets that don't (typically) generate revenue. Houses tend to appreciate in value and can be rented out.

Stupidity. It makes anything seem possible, especially when the tv tells them so

no, actually, it's fucking not. if they're not buying the house as an investment (i.e. they're buying a place to live, which is what MOST people do) it's not relevant at all.

Jesus Fucking Tap-Dancing Christ on a Cracker! you are one stupid motherfucker! in fact, you're SO FUCKING STUPID that i'm now convinced you actually work in the financial sector.

I laid 15k down on a 60k. I def didn't have 60k.

>being broke
>sueing
Someone watches a sure lot of television

>it's not relevant at all
Yes, it is, as it still provides diversification so all your eggs aren't in one basket.

>high yield money market
Reading is fundamental.

What the matter? you think sub-5% (or sub-1%) isn't high yield? your money stays liquid! saving and investing are two different things.

it's not diversification for the average person because the average person doesn't buy property as an investment.

>I have no credit card and I never will, it's a fucking scam.

then you have a sub 600 FICO credit score and you also won't ever own a house. You need credit to have credit. I just don't believe you that you have a decent car. you HAVE to buy a car and make payments on it to get a FICO score in the 700s or up. It's just how it is. you could have 10 million dollars cash on hand and you'd still have a credit score in the 500's if you don't have and use a credit card, have and make on-time car payments, etc.

The house is still an asset even if it isn't being used as an investment. It's part of your net worth and the cash that you've sunk into it is cash that you can't put somewhere else.

but if he had 10 million dollars cash in hand, he wouldn't need a mortgage, either... so your point is completely moot.

If it's an open/shut case like his car exploding, most lawyers would take that for free (for a set percentage of the winnings).... not to mention if it's a year/model of car that already *tends to have these problems* there's likely a class action lawsuit going on that he simply has to sign off on.

Poor people love to sue, a lot of them make a career of it. For many things like this lawyers will take the case for a 25% cut of the winnings, a 33% cut if it has to go to court... but something like this probably won't go to court, the threat of a lawsuit and the fact that they'd obviously lose usually means an instant settlement.

>Cars are depreciating assets

no, a depreicating asset is one that's been placed as an asset on your balance sheet. It is depreciated as time passes.

If you buy a car with financing, it's just something you bought. A reoccuring cost, a liability.

Stop using language you have no clue about.

Who still buys insurance pleb

Thinking like a poor nigger right there. Though the house thing IS true. I'm just not a big fan of buying things with jew-money.

Lol at thinking a credit card and car payments are necessity. America is truly fucked.

wrong. You need a decent credit score to even have a checking account at most banks. To get auto insurance. To get homeowner's insurance.

Also, if he had 10 million in hand and wanted to "live off it" he'd need a decent credit store to be able to invest it in any sort of a brokerage account.

Everyone. Its state law except New York

Just Empty Every Pocket

Serves you right, homo.

I'm a repo man, and I confirm all of this.

Buy new, though. Dumb niggers, Cadillacs, and big words said niggers can't understand have kept my bills current for years.

This is 100% false. A bank/credit-union doesn't care about the "drivability" of your car. That's between you and the seller/manufacturer and whatever warranty they offer.

Why does this happen? So that companies (not individuals) can smooth out thier earnings. Taht's what depreciating assets are about. So the fucking income statement does not that a huge hit one year and then bounce back the next.

financial retard

Repo man again, and this is also confirmed. Banks don't give a shit about the car, they just want the money. Repossessed cars typically go to auction earning a fraction of the original loan.

>trying to use accounting treatment in a financial discussion
kek

A car is an asset.
Cars depreciate in value over time.
Therefore, cars are depreciating assets.
If you buy a car with financing, it is still a depreciating asset, even if you do not treat it as such for accounting purposes.

>financial retard
Nice comeback.

no, nigger thinking is getting the fanciest car you can get credit approval for and having a big flat screen in your shitty ghetto 600 square foot apartment.

You can pretend you don't need credit all you want, but your credit score is based on several things - among them are available credit, payment history, diversity of credit, credit age, etc. If you've simply "never missed a payment" because you don't have any credit accounts, you'll have F grades for available credit, Credit diversity (i.e. car payment, mortgage, etc) and credit age. You'll have an A in payment history. so your credit report will be like F F F F A F and that equals a score in the 500's. Establish some credit history, pay your shit off every month on time and it will jump to mid-600's. It's not jew money if you make your payments on time. in fact its the opposite - they literally GIVE you free shit like airline miles. Ive got somewhere around half a million miles and I've never paid a cent in interest. I paid for my entire undergrad degree on a credit card, instead of directly via payments. It took discipline to make the payment every month, but now I have a gold credit rating and I'll never pay for another airline ticket in my life. All just for paying the same amount of money (not a penny more) than I would have to pay for college anyway.

yep, nigger thinking alrite

and? your point being? if it wasn't purchased as an investment, the fact that it's an appreciating asset is just a happy accident.

the average person doesn't use their house as part of a financial strategy. they don't rely on its value for retirement (and shouldn't because the only thing worse than being homeless and being old and homeless). for most people a house is literally just a place to live and a mortgage is a bill to pay.

sure, it's an asset. sure, if they decided to not buy a house they could put the money in some other investment. but the average person does not buy a house expressly as a hedge against loss in some other market, and the average person does not count on selling their house to use its value, especially in retirement.

They actually do care. They worry about the condition because some people will not keep paying a vehicle if it's broken or totalled. Dumbass. Seriously. Ask anyone who works at a bank

>You need a decent credit score to even have a checking account at most banks. To get auto insurance.

Completely fucking fraudulent. I've had no trouble opening checking and getting car insurance. See, they know I'm not an idiot nigger buying shit he can't afford so I can keep my insurance payments current and keep a positive payment in my account....

those credit fucking jews have got all you idiots swindled into thinking paying a premium to spend your own money is how life should be lived. You guys are morons.

But hey, enjoy your 500 dollar car payment and fucking assrape APR all the while I have 46k in my account and am spending my own money without paying to use it.

Why the fuck do you even need a 15k car to begin with? Mine cost 4k plus around 600-700 in repairs and getting through the 4-year check to keep it, served me through 50000 kilometers so far and still does totally fine. A family obviously won't fit into an Opel Corsa but you can get a larger car for the same money to serve your family, I dob't get why you'd want to buy a car that loses you literally 7.500$ in the first year.

>You need credit to have credit.

so in order to get credit, i need to have credit
but if i need to have credit to get credit, how does one acquire credit?

the cost of insurance of all types ... auto, home, business, etc ... is now increasingly dependent on your credit score. WHY? Because stupid fucks with sub 650 credit scores make WAY MORE claims for damage than the rest of the population. WHY? They drive they same way they manage the rest of their life ... not giving a shit about things they should. Makes perfect sense that they are a greater risk and should pay more.

>cash in hand
>checking account

which is it?

>If you buy a car with financing

you don't own it until it's paid off...it's not your asset, it's the banks'. Use ur fucking brain.

I'm telling you, as the guy that takes the cars from these monkeys, the actual asset or it's condition is irrelevant. The contract your bound by is worth more than the metal and plastic.

>your point being?
The point being that it can make sense.
>but the average person does not buy a house expressly as a hedge against loss in some other market
You got it exactly backwards. You buy a house with a mortgage to hedge against losing the house. It's exactly because they aren't using the house as an investment that they don't want to put too much of their money into it.

by using credit, duh.

The thing is your car is still losing value, the higher the price the more you lose. There's no reason to pay for luxury if you can't easily afford it, it's literally throwing money out of the window for minir conveniences (not saying you should go so low your car doesn't even have AC).


The less you spend on your car, the less money you lose and the less you'll likely spend on repairs compared to new models, as long as you have the slightest fucking clue on what you're even buying.

But that's the problem, now the bank will have to find a way to get their return back if you just stop making payments on it. Why do you think they force you to get full coverage on the vehicle while you make payments on it?

BTW - why did you set your Jeep's interior on fire? Clearly that's a fire centered in the interior cabin space, started win an accelerant (gasoline probably). The fuel tank/pump area in the rear - not on fire ... the engine where the injectors and assorted fuel lines are - not of fire.

You are a dumb fuck ... of course the insurance company isn't gonna pay your arsonist ass. Next time, pour gasoline all over the engine and light that. At least try to make it look like a mechanical failure you stupid fuck.

You have the rights to it and can sell it. The car is an asset and the loan on the car is a liability. You are not leasing.

If you're talking about buying (outright) a second-hand car over a new one, shiit, yu preching to the choir.

financing anything is bullshit if you can buy it outright.

you apply for a credit card and probably co-sign with your parents or some other financially responsible person willing to lend you some of their credit equity. Make your payments on time and pretty soon your score will go up. Buy the things on the card that you would normally buy anyway, like gas or groceries and then pay the total off in full every month before your due date. in less than a year you can add 100 points to a credit score. but fuck up once and you will lose 150 points.

>You buy a house with a mortgage to hedge against losing the house. It's exactly because they aren't using the house as an investment that they don't want to put too much of their money into it.

This makes no sense at all. Incur a 30 year liability to hedge against a loss? Are you high?

Insurance is it's own racket with it's own rules and end-game. I'm not as knowledgeable about insurance laws as I am repossessions, but I will tell you that post-repossession, you're still required to repay whatever remaining balance is owed on the loan after auction (except certain circumstances, like bankruptcy). If not, kiss your credit goodbye. You'll only be financed through places that'll GPS or kill switch "your" car, or places that'll have you paying ridiculous interest.

>This makes no sense at all
It makes perfect sense.
>Incur a 30 year liability to hedge against a loss?
I would recommend a 15 year one instead.
>Are you high?
No.

kek