So, I've been talking to a friend who owns a car dealership, and he tells me I want to get my car written off.
Now, this sounds bizarre to me, but he explains.
I bought my car (2003 Mits Galant ES) for $14k. Average price for ones with similar milage (65k) is over $10k.
Since write-off price is based on *replacement* cost, not Blue Book (well, in Canuckia it's called the Black Book) value, I'd get about $10k. Given I
still owe $2k on my car, I can pay that off and get a 'newer' used car (probably a 2007 compact or 'intermediate') for $15-18k, meaning
although I'd still have to pay a monthly payment (and not be done with it as I would be in March), I'd get away with a *far* lower payment, and likely
superior gas milage (since the Galant does about 19mpg in city).
Fun. Now I just need the fscking ajuster to CALL me so I can figure out how my life is going to work out. Freaking insurance people.
Now, this sounds bizarre to me, but he explains.
I bought my car (2003 Mits Galant ES) for $14k. Average price for ones with similar milage (65k) is over $10k.
Since write-off price is based on *replacement* cost, not Blue Book (well, in Canuckia it's called the Black Book) value, I'd get about $10k. Given I
still owe $2k on my car, I can pay that off and get a 'newer' used car (probably a 2007 compact or 'intermediate') for $15-18k, meaning
although I'd still have to pay a monthly payment (and not be done with it as I would be in March), I'd get away with a *far* lower payment, and likely
superior gas milage (since the Galant does about 19mpg in city).
Fun. Now I just need the fscking ajuster to CALL me so I can figure out how my life is going to work out. Freaking insurance people.