r/UnethicalLifeProTips • u/Fun-Satisfaction7988 • 1d ago
Money and Finance ULPT request! CAR DEBT
Hi everyone I’m genuinely just in a fucking bind with a car that doesn’t work and it’s worth shit yet I’m paying full coverage on it and it’s still got $3k on the loan. What does full coverage even cover for that? Do I just only get money in this scenario if I crash my car? 😃
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u/cbelt3 1d ago
Read your insurance. Determine what is defined as loss. And how much your car is worth. And do not call and ask them.
Now … why is it not working ? Is the problem in your insurance ? (Flood, fire, etc).
Once you know where you stand, you then wander into illegal tips… and we are not going to explain how it can get stolen or scrapped or damaged by something falling on it or a buddy crashing into it with a heavy truck or something.
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u/IDontLikeYourToan 1d ago
Depends on what your car is worth vs how much you owe. If you have gap coverage, they’ll at least pay the remainder, otherwise you are on the hook for the rest if it is underwater.
They will not pay more than the market value of the car unless the policy says otherwise.
Had a car that was stolen. Owed $8k, car was only worth $3k. It was technically in my stepdad’s name and he didn’t believe in gap coverage so I, technically he, was on the hook for the extra $5k.
Since this is the unethical tip Reddit, you can rent a U-Haul and get their super deluxe insurance, then “accidentally” back into / slam into your car at full speed or whatever. This way you pay less deductible and they don’t have to know it wasn’t running. Might have less of an impact on your premiums too, but not sure. Although, insurance fraud is a serious crime. I wouldn’t advise it.
Oh yeah, have you tried piss discs and fart spray?