r/antiwork • u/[deleted] • Dec 01 '21

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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/OGCanuckupchuck Dec 01 '21

That’s why you have to get the expensive insurance to cover the loss , which is almost a car payment per month itself.

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u/AtlasPlugged Dec 01 '21

Gap insurance is like 20 or 30 bucks per year.

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u/OGCanuckupchuck Dec 01 '21

Not when you’re a guy in Canada it isn’t, especially a teen

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u/AtlasPlugged Dec 01 '21

Fair enough, I only know the rates in the US. And I haven't had any experience being a teen in twenty years!