Debt

Would you burn your car to get out of a loan?

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Can’t make your car payment?

Burn it.

No, not the loan statement…..the car.

I read an interesting piece in the wall street journal today about the rise of Insurance Fraud as more and more police are finding burned or abandoned cars in Las Vegas.

Wow.

This is bad. Very bad. If you can’t afford your car anymore…you don’t deserve the car. Work out a payment plan with car maker…most companies really, really, don’t want to repossess your car. It’s costly for them, sometimes a legal liability, and they don’t want your car. So, get on the phone and work something out.

Don’t go all felon and start burning stuff up. That really can’t be good on mother nature either.

Look, your credit score is important. But it’s not worth committing a crime to keep intact. If you lose the car and it gets repossessed your credit is going to take a hit.

Big deal, you should probably be paying cash for stuff anyway.

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  • http://manvsdebt.com Baker @ Man Vs. Debt

    I think he was joking! By the way he did say it was "bad… very bad…"! He's just helping shed light on the extreme measures people will take to get out of commitments!

  • Jocelyn

    I read about that in the NYTimes. They said people really aren't that good at setting their stuff on fire & making it look real because real car thieves will strip all the airbags and all the good stuff out of the car first *then* set it on fire, but these folks are really amateurish and just pour some accelerant, light a match and wait. One guy set his truck on fire and they think he thought it wasn't burning fast enough, so he opened the door, the oxygen created a fireball, and caught *him* on fire. I guess there needs to be a 'Car Arson for Dummies.'

  • Jim ~ mydebtblog.com

    The thing about arson that doesn't make sense is even if you total your car, if the loan exceeds the value, you only get the value. They can't even pay off the loan after burning their car, double burn!

  • Wes

    It's straight up illegal and not worth the chance of getting caught…con's out weigh any pro's involved. Another stupid thing is thinking about having someone steal yoru car…..illegal and very unethical.

  • Wes

    What goes around comes around…that's all I have to say about this subject.

  • http://www.commissionrobotreview.com Malcolm

    I cannot image this happening in Australia…. Crazy times!

  • Wes

    Imagine it. It happends or people pay someone to steal their car. Happends, not a lot but people need to get caught more.

  • preston

    i say it’s ur shit do what u want with it..insurance companies get to rape us on health and everything else, can’t the little people get ahead when they need too? I mean the salesman didn’t worry about how bad he was getting over on you when he made you the deal right.