1w ago

My Tesla Cybertruck Got Totaled After It Was Sideswiped by an E-Scooter. All-in, I paid $198K, but Insurance is Only Offering Me a “Fair Market Value” of $77K. I Still Owe the Bank $171,500

www.torquenews.com My Tesla Cybertruck Got Totaled After It Was Sideswiped by an E-Scooter. All-in, I paid $198K, but Insurance is Only Offering Me a “Fair Market Value” of $77K. I Still Owe the Bank $171,500

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.

My Tesla Cybertruck Got Totaled After It Was Sideswiped by an E-Scooter. All-in, I paid $198K, but Insurance is Only Offering Me a “Fair Market Value” of $77K. I Still Owe the Bank $171,500

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164 comments

TL;DR: man does not understand how Insurance works; that vehicles are depreciating assets.
What kind of fucking idiot does not understand that a vehicle is a depreciating asset!?
Yeah, the minute you buy a vehicle for $200,000 and you drive it off the lot, it is now worth $135,000.
Furthermore, insurance does not give you back "what you paid" you get "replacement value". So if you were stupid enough to pay $200,000 and it's depreciated to $70,000, that's what you get, because that's what it cost to replace your stupid toy.
Why is this even an article
- This is like ragebait mixed with an ad for gap insurance
  But it's schadenfreude nonetheless
- Why is this even an article
  Because it's designed to make us feel good at the cost of a fool's misfortune.
  Just like 50% of the "news" out there.
- Because the level of depreciation of the Cybertruck is unusally high compared to other cars.
- It was never even worth $200k they paid an extra $50k to get it earlier.
- Why is this even an article
  Rage bait. It got you to interact with it
  
  Rage bait? Read like a feel-good story to me.
  
  Righteous-indignation-bait, equally as common. "Breaking news: person you don't like experiences bad thing as result of what you dislike about them; more confirmation bias at 12"
  
  It got me to comment on lemmy, I'm not dumb enough to give them my eyes.
  The headline alone is revelatory that it's ignorant and designed to make people stupider while cashing in on negative feelings towards that facist guy.
  It's the same thing on the space community. Everyday there's multiple posts about how water is found in space like okay we already fucking know that. But it constantly appeals to uninformed people that want to fantasize about aliens.
- Yup i used to sell insurance and so few understand even that basic part

164 comments