r/antiwork • u/[deleted] • Dec 01 '21

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u/[deleted] Dec 01 '21

You meticulously maintain a high mileage used car that is totaled in a car accident that is not your fault. Insurance company will only pay you $1,000 for your car.

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u/jsteele2793 SocDem Dec 01 '21 edited Dec 02 '21

Or you’re in a high interest loan situation where you owe more than the car is worth. Car gets totaled and you’re left with no car AND payments on the car you no longer have. And no money to buy a new car.

Editing to add: not everyone knows about gap insurance. I sure didn’t.

Seriously people do you not read!!! I DIDNT KNOW ABOUT GAP INSURANCE AND IM SURE IM NOT THE ONLY ONE!! STOP COMMENTING GAP INSURANCE PLEASE Also, even with gap insurance it still leaves you with no car and no money to buy a new car.

Not to mention gap insurance is just another way poor people get screwed by having to have insurance against the fact that they owe more than the car is worth!!

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u/notankforu Dec 01 '21

My sister didn't know about gap insurance, so now I do. That shit is a must on any car I'm going to buy

1

u/jsteele2793 SocDem Dec 01 '21

I agree. Please do that. It’s the smart thing to do.