A Tesla Cybertruck owner shares his truck was totaled after it was sideswiped by an E-scooter. However, the insurance company is only offering to pay him a “fair market price” of $77K, even though he paid $198K for the truck and still owes the bank $171K.
This is why you also need gap insurance for anything but the cheapest cars. It exists to prevent this situation.
Or you just don’t spend 200K on a cybertruck if you don’t have that kind of money. What is a cybertruck going to do for you that a 10K second hand truck can’t? Even if your second hand 10K truck burns down after a year, you can still buy a new one every year for 20 years for 200K.
I don’t think a $10K secondhand pickup truck exists anymore.-- At least not one with a working engine.
Wut? My current tow vehicle was $3800, and I’m currently shopping for another pickup at <$2000. Cheap trucks still exist. People are getting too picky about how new it needs to be. Or they don’t want to turn wrenches.