Money Matters
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totaled car...new down payment?
Hello everyone
FI got in a 25 car pile up today and it looks like our truck it totaled

luckily everyone is ok and no one is seriously injured. The exit ramps turned into a sheet of ice within 30 mins. Funny thing is, when we were on my way to dropping me off to work, a black cat ran in front of us :-/
The car was a leased vehicle, so we are trying to figure out if we would have to pay another down payment for a new vehicle (we plan on buying this time) or if insurance would handle that? I know they will pay off the loan for the car, but we are hoping not to have to pay another down payment.
Re: totaled car...new down payment?
I'm sorry that happened and glad YH is okay.
But yeah, you're going to have to pay both your insurance deductible, plus a down payment if you want to buy a new car.

"You know you're in love when you don't want to fall asleep because reality is finally better than your dreams." - Dr. SeussGlad you and DH are okay. Ice is so scary!
If you plan on buying a car, generally it's advisable to buy one with low mileage that is already 2-3 years old. Cars are not assets, so they immediately depreciate significantly as soon as you drive the

"You know you're in love when you don't want to fall asleep because reality is finally better than your dreams." - Dr. Seuss