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-   -   Finance Rates (https://rennlist.com/forums/997-forum/1128582-finance-rates.html)

ttreat 03-06-2019 01:09 PM

I don't know if I would go as far as only covering liability full time on my 997 but there are definitely insurance savings when you don't have a lien. This doesn't apply to companies like Lightstream where they are giving you a title with an unsecured loan. For one, Insurance companies provide some level of gap insurance which costs you, especially required if you are buying a new car. This isn't such a big deal on a 997 as the depreciation doesn't create a gap in the loan value. Secondly, like some others I park my car in the winter months. During this time I drop my collision coverage which saves me money. Even though you are not driving the car a loan requires you to have full coverage 100% of the time.

workhurts 03-06-2019 08:29 PM

I don't think not having a lien has ever made me want to take comprehensive off. The spread just had never been enough to warrant it.

For me, comprehensive and liability with 300 or 500k limits is about a grand a year. Without comprehensive it's probably half of that? Would need to check.

I'd consider self insuring if the spread was as big as yours. There's always a number when it makes sense to take the risk.

As as for insurance companies giving you some additional discount for not having a lien. Haven't seen that.

Big Swole 03-07-2019 10:20 AM

No full coverage is madness!

With as many accidents and Hit & Run I work / worked, there's NO WAY I'd never have full coverage.

groovzilla 03-07-2019 12:17 PM


Originally Posted by Big Swole (Post 15686372)
No full coverage is madness!

With as many accidents and Hit & Run I work / worked, there's NO WAY I'd never have full coverage.

Hit and run is fully covered with liability only coverage.

Someone backed into my Mercedes sedan hood a few years ago at parking spot on the street - All damage repairs covered as well as a rental car which added up to $3500 and I had my liability only policy on that car.
Like I said, I've enjoyed the $60,000 in savings over the part 30 or so years by having liability coverage only.
While it's not for everyone, it is a no brainer especially if you don't use your car as a daily driver and have funds in the bank to repair your car in the event you did damage it.
I have full coverage on my Land Rover because I use it more frequently, drive in snow and tow my Airstream with it.

doclouie 03-07-2019 12:33 PM


Originally Posted by Big Swole (Post 15686372)
No full coverage is madness!

With as many accidents and Hit & Run I work / worked, there's NO WAY I'd never have full coverage.

It is all a matter of how risk adverse you are. Some cars I have do have full coverage on and some have only have liability. Makes sense for some people and others it does not.

groovzilla 03-07-2019 01:56 PM


Originally Posted by doclouie (Post 15686689)
It is all a matter of how risk adverse you are. Some cars I have do have full coverage on and some have only have liability. Makes sense for some people and others it does not.

**Another aspect of our insurance discussion which I believe important to mention is that in the state of Washington, we have Uninsured Motorist Coverage as part of the Liability policy.
See in Socialist Seattle, you don't need to get your car inspected or prove insurance coverage in order to get your yearly licencing tabs or registration.
So any liability policy holder who has damage/vandalism or theft caused by non-insured or under-insured motorist will have full replacement value coverage on their vehicle.

Thru my Allstate broker, several years ago I was able to put my car in suspense several times during the year which was handy and saved $ - I could put it on for 30 days than in suspense - One year I did this many times.
Allstate changed their rules and now I can only put car in suspense one time per year.

Big Swole 03-07-2019 02:27 PM

Well I'm certainly glad it works out for some of you folks. No point in making the insurance companies much rich.

But for the Non-Rich folks like me and doing what I do for a living (and living in the Atlanta Area), I just can't chance it.

Cheers to those that can and can afford to gamble. Maybe if I hit the lotto someday, I'll go this route. lol

pv355 03-07-2019 05:59 PM


Originally Posted by ryangambrill (Post 15629319)
Awaiting PPI. Starting to research finance rates/terms.

Good Credit here @ 825+

Short List of places I plan on checking out:
- PenFed.org
- Lightstream
- nihfcu.org
- ffcommunity.com

I got 2.85% for 3-year used car loan in Jan 2019 at my hfcu.org.
I bought a truck. Still have the 08C2S @ 128k miles. I worry about taking it on long trips.


Originally Posted by Balr14 (Post 15631312)
What you say makes a lot of sense, but I lack your confidence in investments, or have the wrong ones. I still haven't recovered from the losses I took in 2008 - 2009.

I feel the same way. Personal finance is exactly that, personal. I don't pay cash for everything either. A 20-30% down payment on most of my loans works for me, and I sleep well at night. I have friends that run a tight debt/eq budget and it doesnt phase them. Then I know others who are reckless and they worry sometimes.
whats the saying? 'whats better than owning a boat? having a friend that owns a boat,'

doclouie 03-07-2019 06:23 PM

Insurance unfortunately is a necessary evil in my opinion. That is why everyone who reads this post is worth more dead than alive, just like me.


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