It's possible the truck guy does not have insurance. Or he doesn't own the truck. Tell your agent you want to start the process and get quotes for the work.

If this guy doesn't have insurance you will be stuck with your own deductible.

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I don't know if I'm misunderstanding your question, but I can't possibly see how anyone except you would be in a position to answer this, especially since you've given us zero data on which to even do some math on your behalf.

Isn't it as simple as which is the cheaper of the two ways to pay for public transportation? Can you estimate how much "using public transportation a lot" translates to in dollars of tickets? And how does that compare to what it costs to buy the transit pass pre-tax? The only tricky thing is that since paying full-fare is with post-tax dollars, you'd have to figure out your overall tax rate to know what that would be in pre-tax dollars.

Yes, over time the evidence is quite strong that index funds outperform managed funds when adjusting for the risk taken.

The expected return of a managed fund is the return of the market minus costs - even if there are indeed managers out there who can consistently outperform the market, why would you think your ability to identify them is better than your ability to identify the stocks that will outperform?

And if your ability to do so really is that good you probably should either be working for fund company in hiring or open your own.

this is a confusing question but if you're planning on spending the money anyway, you're always going to save money pre-tax vs. post-tax.

for example: if your pre-tax income is $1000 and you spend $100 per month on public transportation for whatever reason (and assuming 20% taxes):

• using the commuter benefits pre-tax
  you'd be paying 20% on your income minus $ you save for commuter benefits
  $1000 - $100 = $900
  paying total of $900 * 20% = $180 in taxes
• if you forgo the commuter benefits and just pay out of pocket
  you'd pay 20% tax on your income of $1000
  paying total of $1000 * 20% = $200 in taxes

it'll always be in your best interest to decrease your overall taxable income to save money in the long run.

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Absolutely you want to be paying that down towards the premium, but you also never want to miss a payment so I just wanted to make sure you weren't counting on those "91 days ahead" as a fall back option if you can't pay any month

Awesome and to answer your previous question it will be stored in the middle of a field way out in the country at my grandma's house. Far away from anything.

I’m going to look into it, currently have a job lined up at a ramen place but it doesn’t pay well

Check with your lender for what is allowed, you may be able to change the insurance policy to a "storage only" policy in that case.

That seems like a good plan

How long am I required to have full coverage, is that something that would have been worked out with the dealership and the loan company?

The big problem right now is just the current amount I have to pay per month, 500 is pretty insane for me to be able to cover with the conversion rate and a part time job, but knocking it down will make it easier for me to deal with

Thank you very much for this breakdown!

I applied my extra payments towards principal.

My loan term is 48mo, forgot to mention that.

Today, I called Hyundai, and they said they could apply the “three months I am over-paid” (91 days) to my principal. Which would bring my account balance to be “current”.

Seems to make sense.. chopping down the principal is best over anything else in the long term.. right? Any reason this ever wouldn’t be the case, if my goal is to pay the least amount of interest on this loan, and as early as possible?

I don't have an estimate yet, but yeah, I imagine the cost will be close to the deductible.

I'm going to wait a week or 2 and see what happens with the other insurance company. At a certain point, I'll need to make a determination on if I go through mine then. Thankfully, it's quite a minor crack in the bumper, so the car is perfectly drivable, so I have the luxury of time

Ah, great idea. Thanks.

Yeah definitely not. Just happened to think I needed a car at the time little did I know I could live without one.

I appreciate the info. I'm pretty sure I have to graduate boot camp and be stationed first tho.

Money is fungible. So it doesn't start/stop anywhere. What your aggregate income between the two sources is is the sole determining factor.

But it was in the contract that I maintain full coverage?

That’s true. I guess since it is just a bumper, the deductible might be pretty close to the whole cost huh?

I’d maybe ask how long you can keep that option open. If the other insurance company starts dragging their feet (like they need more time after this month) I’d get your own insurance involved however you can. They should be advocating for you even if their own money isn’t on the line. But I guarantee they will if it is their money.

Call your broker and have them explain the product and it’s value. If you really want to see if they’re trying to give you a poop product tell them you’re not sure and you think you need advice and then see how the advisor treats you/what they say to you. Should give you a good sense of what’s up.

Of course I know that after a bad recommendation from someone I trusted. I totally agree, was a really bad move.