Can you/your hubby fix your car if you crashed it?
or..Could you buy another car out of savings (for $2000 say) if you wrote yours off?
If so why have collision coverage?
Frank
Unfortunately neither of us has any skill at car repair. This is something I hope to change in the future, but at this moment, definitely no.
To your other question, yes, we do keep enough cash on hand that we could buy a beater car outright or at least finance something reasonable. My thinking is that there is still many thousands of dollars of value in the Accord right now and if it were say stolen from my apartment complex one night I would just be out money. I wouldn’t feel too bad about losing $1k or even $2k, but I think at the moment it’s worth more. This is what’s stuck in my head at least, whether it’s right or wrong.
I don’t mind being challenged in this assumption if in fact it simply makes more sense to drop it.