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Old 03-17-2005, 00:15   #1 (permalink)
Scott en Aztlán
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Re: Mustang versus Vette

On Sat, 26 Feb 2005 20:47:11 -0500, ZombyWoof <Zomby-Woof@Zappa.net>
wrote:

>>>> Take a 2005 Mustang and add $18k worth of modifications, drive it for
>>>> two years and then try and sell it for more than $20k-$25k.
>>>
>>>Depends. I never buy a car to sell. I think that is a very moot point.
>>>If i put 18k into a car for performance upgrades, i amkeeping it till the
>>>bloody thing falls apart, or i die

>>
>>Here's hoping you never lose your job, have your car stolen, or suffer
>>any number of other unexpected events which will leave you with a car
>>where you spent/owe more on it than you could sell it for/recover in
>>an insurance settlement.
>>

>That is why there is this wonderful thing nowadays called gap
>insurance.


Gap insurance only covers the difference between what you owe on your
car and what your insurance company gives you on your claim. It will
NOT cover the $18,000 in performance upgrades (for which you paid
cash).

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Old 03-17-2005, 00:16   #2 (permalink)
ZombyWoof
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Re: Mustang versus Vette

On Sat, 05 Mar 2005 19:47:53 -0800, Scott en Aztlán
<slothkills@NOyahooSPAM.com> wrote something wonderfully witty:

>On Sat, 26 Feb 2005 20:47:11 -0500, ZombyWoof <Zomby-Woof@Zappa.net>
>wrote:
>
>>>>> Take a 2005 Mustang and add $18k worth of modifications, drive it for
>>>>> two years and then try and sell it for more than $20k-$25k.
>>>>
>>>>Depends. I never buy a car to sell. I think that is a very moot point.
>>>>If i put 18k into a car for performance upgrades, i amkeeping it till the
>>>>bloody thing falls apart, or i die
>>>
>>>Here's hoping you never lose your job, have your car stolen, or suffer
>>>any number of other unexpected events which will leave you with a car
>>>where you spent/owe more on it than you could sell it for/recover in
>>>an insurance settlement.
>>>

>>That is why there is this wonderful thing nowadays called gap
>>insurance.

>
>Gap insurance only covers the difference between what you owe on your
>car and what your insurance company gives you on your claim. It will
>NOT cover the $18,000 in performance upgrades (for which you paid
>cash).
>

I was speaking to the "owe" portion of the equation. Dumping 18k in
performance parts is nothing different to the thousands of dollars
worth of stereo equipment some people dumb into their cars when it
comes to theft or other complete loss scenarios. Anyone who dumps 18k
CASH into his/her car isn't going to have to worry about making the
payments now are they?
--

"Maybe worshiping the cross and the painful death rather
than the well lived life really has distorted our sense
of who we are and what life is about." -- Author unkown
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Old 03-23-2005, 08:01   #3 (permalink)
Scott en Aztlán
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Re: Mustang versus Vette

On Sun, 06 Mar 2005 02:33:33 -0500, ZombyWoof <Zomby-Woof@Zappa.net>
wrote:

>>>>>Depends. I never buy a car to sell. I think that is a very moot point.
>>>>>If i put 18k into a car for performance upgrades, i amkeeping it till the
>>>>>bloody thing falls apart, or i die
>>>>
>>>>Here's hoping you never lose your job, have your car stolen
>>>>
>>>That is why there is this wonderful thing nowadays called gap
>>>insurance.

>>
>>Gap insurance only covers the difference between what you owe on your
>>car and what your insurance company gives you on your claim. It will
>>NOT cover the $18,000 in performance upgrades (for which you paid
>>cash).
>>

>I was speaking to the "owe" portion of the equation.


That's fine, but you'll still be faced with an $18,000 loss.

>Dumping 18k in
>performance parts is nothing different to the thousands of dollars
>worth of stereo equipment some people dumb into their cars


Freudian slip?

>when it
>comes to theft or other complete loss scenarios. Anyone who dumps 18k
>CASH into his/her car isn't going to have to worry about making the
>payments now are they?


Actually, that $18,000 worth of upgrades was undoubtedly financed
using high-interest credit cards.

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When are you people going to wake up to the fact that rebates are a SCAM?
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