poor S4

[Michael Riebs / Audi V8]

That's what "bridge insurance" is for. If your loan is more than the value
of the car, the "bridge insurance", which you either buy from the finance
company when you close on the loan (the cheapest way), or through your own
insurance company, will pay the difference. Then you just go down and buy a
new car, and get a new loan - the old one being paid in full...

Michael L. Riebs
Grand Rapids, Michigan

'90 V8Q
'98 A6QA

www.1stchoicegranite.com

----- Original Message -----
From: "Mark L. Chang" <mchang at ee.washington.edu>
To: <quattro at audifans.com>
Sent: Monday, April 29, 2002 6:57 PM
Subject: Re: poor S4


> On Mon, Apr 29, 2002 at 06:19:58PM -0400 or thereabouts, Brett Dikeman
wrote:
>
> > I don't see what the guy is all broken up about(he looks ready to
> > burst into tears)...it's what insurance is for; he's getting a 2002
> > or 2003 S4 thanks to that tree.
>
> Not necessarily. My wife used to work at a body shop. The saddest story
> was a young man purchasing a brand new Beetle and then wrecking it about
> a month or three later. He paid, say $20k for the car, $18k loan, $2k
> down. Insurance appraises car at like $14k after depreciation. Since he
> didn't "own" the car (the bank does), the $14k goes to towards the loan.
> Now, really sad kid (he loved the car) has a $4k loan and no car, plus
> is out $2k on downpayment.
>
> Either way, Mr. S4's car has depreciated, and that's all he's getting
> from the insurance company. If he has big loans, he could be paying for
> a car he doesn't even have.
>
> Of course, there are policies out there from companies like Met Life
> that have some sort of "grace period" in which you can total your car
> and they just get you a new one. If I were without such a policy (and I
> am), then I'd look quite distraught too if my S4 got beaten down by a
> tree.
>
> Mark
>
> --
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>