Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Getting rid of that SUV
Old 06-10-2006, 06:57 AM   #1
Full time employment: Posting here.
Arif's Avatar
 
Join Date: Jun 2005
Posts: 761
Getting rid of that SUV

Saw this on MSN about how people got rid of their SUVs so they wouldn't be "upside down."

Vehicle arson has had a long and occasionally humorous track record over the years. In Texas, a car salesman was arrested after offering his customers what he called a "rotisserie program." He would have their cars torched; then, after they collected on the insurance, he sold them a new car. In another part of the state, two students were arrested after they torched their high school teacher's car in exchange for passing grades.

Heres the entire article:
http://money.cnn.edmunds.com/advice/...4/article.html
__________________

__________________
You take the blue pill - the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill - you stay in Wonderland and I show you how deep the rabbit-hole goes.
Arif is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Getting rid of that SUV
Old 06-10-2006, 08:25 AM   #2
Full time employment: Posting here.
 
Join Date: Dec 2004
Posts: 714
Re: Getting rid of that SUV

Think "gap insurance" on this one ... otherwise, doesn't work quite so well.
__________________

__________________
Craig is offline   Reply With Quote
Re: Getting rid of that SUV
Old 06-10-2006, 09:41 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Re: Getting rid of that SUV

Hmmm...one of my neighbors just had his truck stolen out of his driveway, keys in it...
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Re: Getting rid of that SUV
Old 06-10-2006, 09:42 AM   #4
Thinks s/he gets paid by the post
maddythebeagle's Avatar
 
Join Date: Jun 2005
Posts: 2,450
Re: Getting rid of that SUV

Quote:
People become desperate during financial hardship," Rowe observed. "It's not because they are bad people; they just get pushed into a financial corner and they make poor decisions. There are ways out of it but people want a quick fix."
In my book, doing something like this makes people "bad" .
__________________
- Hurry! to the cliffs of insanity!
maddythebeagle is offline   Reply With Quote
Re: Getting rid of that SUV
Old 06-10-2006, 10:39 AM   #5
Thinks s/he gets paid by the post
2B's Avatar
 
Join Date: Mar 2006
Location: Houston
Posts: 4,330
Re: Getting rid of that SUV

The value of used SUVs have fallen based on all of the methods used by insurance companies. The insurance company will only reimburse a policy holder for the "value" which is almost always less than what it would bring in a sale. By torching their cars, they not only commit a crime when filing an insurance claim but they are reducing the amount of money they would get if they sold it outright.

Dumb and Dumber must have thought this up.
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
2B is offline   Reply With Quote
Re: Getting rid of that SUV
Old 06-11-2006, 10:31 AM   #6
Full time employment: Posting here.
 
Join Date: Dec 2004
Posts: 714
Re: Getting rid of that SUV

2B, having gap insurance fixes that little problem. Not honest, but unless you're caught, it can work.

And, I would agree, these people become "bad" with such "solutions" ... known as "moral hazard" in the business.
__________________

__________________
Craig is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Getting rid of the land line and 911 cube_rat Other topics 18 10-14-2006 06:09 PM
How to get rid of a time share Kitty Life after FIRE 11 10-05-2006 08:07 PM
Got SUV Guilt? Buy Some Peace Of Mind REWahoo Other topics 8 08-16-2005 11:42 PM
"I got rid of all the excess in my life." dex Other topics 0 06-15-2005 08:32 PM
Get Rid of the Vinyl? Hyperborea Other topics 10 11-09-2004 06:00 PM

 

 
All times are GMT -6. The time now is 11:03 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.