Serious accident, safe truck!

Glad you are OK. Trucks can always be replaced.

 

Totally would, but job requires I need reliable transportation asap.

 

she held up well and you're ok; drive safe!

 

That's a heck of a smack.

 

Glad you came out okay on your accident. However, all Gap insurance is good for is paying off the remaining balance of your loan or lease. It does not put money in your pocket. The only time anyone should even consider gap insurance for a purchase is when they don't put any money down on the loan. Now there are other types of riders on auto insurance policies, including new car replacement.

 

Glad you are ok.

Why would you need gap insurance? I thought Tacoma's held their value.

 

Holy shit, that's a wreck. I have wife and daughters and use the Taco as family car. I'm feel so much better considering you've got into an accident with a jackknife trailer.

You and everyone is OK, that's all that matters. Glad things work out in the end.

You can buy the truck back from the ins for cheap and part it out. A chance to make some quick cash too. I did it with my GTI when it first came out. $5000 profit easily.

 

Not all Toyota hold their value as good as tacoma. My wife got into a Prius and she's still owe $16000, car is value at $10,000.
You don't have to buy GAP from the dealer. Your insurance company can also give you that for a few bucks on top.

 

Glad everyone is ok

 

people also sometimes roll negative into their car. you DEFINITELY want gap if you EVER do that

 

What's roll negative?

 

sorry car business lingo. if you have negative equity in the car that you're trading, you can apply that to the loan on the new vehicle. some banks will do up to 120% loan to value. so maybe you are buying the car for 10k, but you can roll 2k worth of negative from the other car and finance that amount

 

Sounds like they are banking on your continued poor decisions. Pun intended. But seriously, if you are upside down on loans, you paid too much and really didn't research the car/truck market before making an impulse decision. I understand everyone gets burned once in life buying too high and selling too low, but people really should learn from their mistakes. The banks just laugh all the way to themselves.

 

Glad your good. im depressed you didn't get to catch some steelies. Are you still gonna go fishing?

 

well and it happens a lot these days people want to put little or nothing down. and when you're financing something for 60+ months you aren't going to pay it down faster than it depreciates. and if you're like most people and you don't take care of your car, that doesn't help either. there are lots of reasons people get into these situations, it's unfortunate, but sometimes it's all people can afford

 

Agreed. But that tells me they should not be looking at a new $40,000 truck.

 

people over extend themselves all the time. i used to collect on accounts over $50k, and I had a guy who made $400k per year and was always behind on his expensive house payment, porsche, and $25k credit card. he made great money but was ruining his credit

 

Good to know these trucks can take a hit! happy you and your crew are safe and sound... Did you get pics of "the other guy"?

 

Sometimes like you said one does what they have to. My friend was upside down in his last car and had to roll negative, but being a traveling copier repairman he must have a reliable car for work. Not an option to get a beater

 

true. i also know people that had to get rid of their car for something less expensive because of job situation, divorce, moving, or whatever. and had to roll negative equity from a more expensive car into a less expensive one to save them money each month overall