The Car Accident Saga Is Over [View all]

Yesterday, I received the settlement from the insurance company.
Because the car is nearly an antique (1998 Sebring convertible with 140k miles), parts to repair can't be found.
So, they paid me the fair market value for a dent in the door!
Thing is, the settlement amount is exactly $260 less than I paid, out the door, in June of 2020.
So basically, my cost to own has now dropped to $3.94 per month.
I'm just going to drive it with the dent until I start having issues, but now I have an extra 5 grand on hand to add to the cost of a new car in a couple years. If I pay cash I get $5000 more car. If I borrow, I have a lower principal so a small payment.
I can't believe that this worked out so favorably.
Of course it requires an owner who cares so little about what the car looks like. But, I'm on of those guys.
Instead