My 2022 Gladiator burned down... how?

[BearFootSam]

Sad thing about some of this - we were taught in high school about depreciation, vehicle values, the various types of insurance you can get, what replacement cost was as opposed to other insurance and so on.
I read my policies, I asked questions.
It's really sad that schools (or parents) aren't preparing young people for life and finances.
To find so many adults don't know about the various possible insurance scenarios, what declared value is vs. stated value vs. whatever, replacement cost vs. FMV at time of loss and so on.

Schools aren't doing it, has to be the parents. Gratefully my father had me sit in the finance office at the dealer as a kid, go over roofing contracts, do taxes etc. I used to just assume everybody got this sort of education, which they don't. It's a good lesson for parents.

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[MPMB]

Sad thing about some of this - we were taught in high school about depreciation, vehicle values, the various types of insurance you can get, what replacement cost was as opposed to other insurance and so on.
I read my policies, I asked questions.
It's really sad that schools (or parents) aren't preparing young people for life and finances.
To find so many adults don't know about the various possible insurance scenarios, what declared value is vs. stated value vs. whatever, replacement cost vs. FMV at time of loss and so on.

And when you compare the depreciation (which we don't get to choose) to the loan duration it's very disconcerting, considering the average vehicle loan is 5+ years.

It really sucks for first-time car buyers, as there aren't a lot of inexpensive cars today. The cheapest cars are in the $17k-$20k range.

A $17k Nissan Versa, at $1700 down, 48mo @ 8.5% is $420/mo. In Dave Ramsey's fantasy world, a car payment shouldn't be more than 14% of gross income (I read that years ago, don't know if its from Dave or not). That's $3000/mo, or $17.30/hr.

Compared to when I was one, my car payment was 25% of gross. Not terrible for a college kid living at home making between $6-$9/hr at the time.

When I got a full-time gig out of school it became much more affordable.

I wish I still had that small of a payment, though. lol.

 

[Artsifrtsi]

Somehow, I think we won't hear from him again. This thread didn't go the way he wanted it to.

Think it'll be the last Jeep he'll ever buy?

 

[KevinC]

Think it'll be the last Jeep he'll ever buy?

No, I don't. They always come back. Sooner or later Jeep will lure you back into the labyrinth of ThunderJeepDome.

KevinC

 

[ShadowsPapa]

No, I don't. They always come back. Sooner or later Jeep will lure you back into the labyrinth of ThunderJeepDome.

KevinC

Especially those Jeeps with wenches sitting on the front.

 

[Artsifrtsi]

Especially those Jeeps with wenches sitting on the front.

I loves them wenches!

 

[Trippin01]

I also Have Allstate, just moved our Policy back over to them. I pay a little more to have the vehicle insured for its "real time" value, via an appraisal done yearly by the dealership appraiser. I was worried sick about eating the depreciation should something catastrophic happen to it like the OP of this thread. The appraiser takes into consideration local market value as well as all the after market goodies that are add-ons. Upgrades don't count, like shocks, gearing, tires, etc, but winch, rack, RTT do count to up the insured value.

 

[BillUA]

Any update from the OP?

 

[ShadowsPapa]

Last seen over a week ago.......

 

[AstroZombie]

The Red Green Show was hilarious!!

 

[seven30]

I just saw a '23 Gladiator at the dealership with 37's, mopar lift, aftermarket front bumper, winch for $75,000. I'm guessing yours was somewhat similar, meaning all done at the dealership. Allstate is probably looking at a stock Gladiator (whichever model) and saying we can buy one for X so that is what we are offering you as a replacement check. If you can show them yours came with the additional items, from the dealer, I would think they would have to add the cost of those into your replacement check since you didn't buy a "stock" Gladiator.

What is the states tax valuation on the vehicle? And yes insurance companies will use the lowest priced gladiator as a reference. Have your dealer put a value on it. You have to make them find a same year same mileage same condition comparison. Good to know about Allstate too.

 

[Artsifrtsi]

I found a 1975 penny in my front yard…

 

[ShadowsPapa]

I found a 1975 penny in my front yard…

My bet - it's worth a whopping $.001 today!

 

[Artsifrtsi]

My bet - it's worth a whopping $.001 today!

And unlike this thread, it has way more value at this point…

 

[Pauliboy]

Was this a diesel or petrol

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