Comments by "basspig" (@basspig) on "More Americans at risk of car repossession" video.

Here's another money-saving tip. If you pay cash for a used car you don't have to carry comprehensive insurance. In my state that saves about $10,000 a year.
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@Zee06 The decision to insure or not depends on how you value the vehicle and the risk level in your area (hail damage, deer hits, etc). My wife and I recently were at a dealer and compared the cost of buying a car with and without financing. The car was $23K, used, and when we calculated the interest and insurance cost differences, it came out to over $10K savings to buy for cash and get the minimum insurance.
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@Dfgbuiiyyyybb No. We called our insurance agent and asked for two quotes--comprehensive and liability only. Combined with the savings in loan interest, the savings came out to $10,700.
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@Dw_ool0 in our area, those situations are rare. And I don't drive much anymore. I drive older vehicles. The difference in cost means the difference between affording transportation and being home bound.
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