Cars We Drive!

[poorsod]



is there an excellent reason why you prefer to drive instead of cab or subway. It's hard to fathom how much more costly your commute is compared to these other options.

I work in NJ. No public transport where I need to go.

 

[idfnl]



nice looking car inside and out (besides the gross orange color, obviously). Not sure if this is what I'd get with my $100K though.

Very nice looking. Love the treatment on the tail lights.

 

[mike1445]

i saw one of these in white just last weekend. Only saw it from the rear from a distance and had no idea what it was. glad to see this post it bugged me all last week. white looked sharp BTW

 

[horndog]

I still don't understand how Jaguar survives in the market. They've taken bold steps with the F-type, admirably, but damn if every design of theirs has a German counterpart that seems to do it better.

 

[Find Finn]



I still don't understand how Jaguar survives in the market. They've taken bold steps with the F-type, admirably, but damn if every design of theirs has a German counterpart that seems to do it better.

They are owned by TATA.

The XJ is most likely their bread maker

 

[idfnl]

I've always been a full coverage guy, but a friend brought up an interesting scenario with his car which gave me pause, would you get full coverage or liability?

Car is worth about $12k

Annual premium is $1800 + 1k deductible

Liability premium is $380


Is it worth paying that much to insure a car fully or is it worth the risk of liability?

 

[Piobaire]



I've always been a full coverage guy, but a friend brought up an interesting scenario with his car which gave me pause, would you get full coverage or liability?

Car is worth about $12k

Annual premium is $1800 + 1k deductible

Liability premium is $380


Is it worth paying that much to insure a car fully or is it worth the risk of liability?

You cannot (legally) drive without liability so you really cannot drive with liability risk.

 

[whiteslashasian]



You cannot (legally) drive without liability so you really cannot drive with liability risk.

I think what he's saying is going from Full Coverage to Liability coverage only would be a huge money saving on a per annum basis. Considering the relatively low cost of the car, would that saving be worth it?

 

[idfnl]



I think what he's saying is going from Full Coverage to Liability coverage only would be a huge money saving on a per annum basis. Considering the relatively low cost of the car, would that saving be worth it?

Exactly, question is if its worth the risk to save the $1400+ a year. I really don't know what to advise him.

 

[Piobaire]



I think what he's saying is going from Full Coverage to Liability coverage only would be a huge money saving on a per annum basis. Considering the relatively low cost of the car, would that saving be worth it?

Well, he still has no "liability risk" as if he does not own the car free and clear the lender is going to force him to have coverage. If the question is just a straight forward, "He owns the car outright and pays 1.4k for replacement cost of a car worth 12k" I would simply remind people of the reason we buy insurance: to guard against events that would be catastrophic relative to income. If he could not finance or buy a replacement car then insure it; if he can save then 1.4k and effectively he's self-insuring. There is such a thing as being over insured and this guy might be a case of it.

 

[Rumpelstiltskin]

I've always been a full coverage guy, but a friend brought up an interesting scenario with his car which gave me pause, would you get full coverage or liability?

Car is worth about $12k

Annual premium is $1800 + 1k deductible

Liability premium is $380


Is it worth paying that much to insure a car fully or is it worth the risk of liability?

Assuming the car is paid off, just do liability and add vandalism and theft.

 

[UnFacconable]

Agree with Pio. The guy needs to decide if he's willing to pay 8% of the car's value this year to insure it's well-being, and really he'd have to spend $2400 before he gets a dime back. I don't know that I would entirely describe it as paying $2400 to replace the car because collision would protect him in less than catastrophic scenarios as well. I have an old SUV that has numerous dings (they add character right?) that I have never deemed worthy of fixing. He has to decide if he cares about cosmetics and, notably, how likely he is to cause damage to his own car while driving it - which is all that collision covers.

 

[idfnl]



Assuming the car is paid off, just do liability and add vandalism and theft.

The car is paid off. You're not allowed to just insure liability on a car that has a loan.

Agree with Pio. The guy needs to decide if he's willing to pay 8% of the car's value this year to insure it's well-being, and really he'd have to spend $2400 before he gets a dime back. I don't know that I would entirely describe it as paying $2400 to replace the car because collision would protect him in less than catastrophic scenarios as well. I have an old SUV that has numerous dings (they add character right?) that I have never deemed worthy of fixing. He has to decide if he cares about cosmetics and, notably, how likely he is to cause damage to his own car while driving it - which is all that collision covers.

The car is in good shape. Its not pristine, its a daily driver. He's not the kind of guy to fix every mark, but he does take good care of his cars.

 

[Pennglock]

Youd need to have an absurdly high level of risk aversion to justify that policy on a 12k car.

 

[Blackhood]

Not at all.

You crash the car hard and it requires $5,000 of repairs.

Fully covered - $2400 down

Partial Cover - $5,000 down

If you have enough cash flow to drop $5k when needed, then don't insure it. If on the other hand a $5k bill would require a loan to fix, then get the insurance.

Largely insurance isn't about the car, its about how much you are willing to pay to avoid a crippling repair/replacement bill. If the guy is hurting for cash badly enough that he needs the $1400 for other stuff, you can bet that he won't be able to pay for large scale repairs out of pocket without hurting even more.