propchef wrote:Huntindog wrote:Lantley wrote:So, your financed stuff would get fully paid for by insurance?
I don't think I would be any worse off than if your cash paid truck and RV were totaled by an uninsured driver or natural disaster.
Yes there is insurance,there are also deductibles, personal items, depreciation, loss of use etc..
Would you be made 100% whole by your insurance .. I doubt it.
Much in the same way my investments could sour.
I doubt the investments would sour to zero. I doubt the claim would pay zero.
But both scenarios could suffer a loss.
I don't think there is anything wrong with paying cash.
My point is paying cash does not guarantee the best deal,
it is not foolproof, it does not mean you will RV happily ever after
vs. a financed purchase.
As always the devil is in the details.
The End.
I can tell you it won't. This actually happened to my brother. His financed car was totalled. The insurance paid. He still owed money on a car he no longer had.
If your brother had gap insurance he'd be fine.True, but Gap ins. did not exist back then...And that just means another expense eating away at your investment return if any.
Your obsession with risk is yours to own. Nothing in life is risk-free. Even cash. Your cash is worth less now than it was last year. If you had investments you could have avoided that.When did I say I did not have investments?
I bought a home in Florida in 2005. I lost my behind because of the housing crash. I kept making my payments then. It is paid for now, and worth many times what I paid. You only lose your behind when you sell into a down market anyway.I bought a house in CA in 2017. The increase in value will pay for my next home.
Maybe. The CA housing runup in prices is showing it's age. It will end at some point.
Walking across the street is risky. Cash is no longer king.I doubt that.
