I have made it through another week. October has been a rough month financially with a bunch of unexpected expenses but it looks like we will make it through.
I am paying off my car today which is huge. My car was costing me $216.67 a month. I am going to pay $221.40 today and I never have to think of it again. That will take some pressure off next month, especially with upcoming dental and optical expenses. While I didn't have the cash at the time to just outright buy the car, and I needed it in order to work, I am very glad to be done with that bill. We financed at 0% for this one which is why we didn't pay it off early when we had the money to do so. It is easier on the mind to have a bit of backup money. The car was going to cost what it cost if we paid it off early or spread it out. Works for me.
I am back and forth on if I should drop the coverage or not. Right now I have full coverage on it. It's a 98 with 170,000 miles so it isn't exactly worth that much. Still, had I not had the coverage when I hit a deer in May, that would have put us in a serious financial crunch. Of course, I was working at the time and my income was vital at the time. At this point it would be an inconvenience more than anything else. It's something to think about anyway. I have a feeling that my savings would outnumber potential outpay within a couple of months.
Now, who wants to wager that the minute I pay that bill the car dies? That is, afterall, my luck with vehicles.
**Both kids: field trip to the apple orchard for apple and pumpkin picking**
Instant Pot Christmas Roast
6 years ago
In terms of full coverage, you need to look at what they would give you if your car is totaled and what the difference is between comprehensive and liability only.
ReplyDeleteAn 11 year old car can be totaled for anything. If you hit a deer again and the costs to fix it exceeds the cost to repair it, the company will call the car a loss and cut you a check for what the car is worth.
What I would probably do (if could afford such a thing) is to set aside the difference each month between the cost of comprehensive and liability insurance for out of pocket repairs.