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Message: <blockquote data-quote="hppants" data-source="post: 1268049" data-attributes="member: 27852">I had a little bit of second guess over the last couple of days. When the finance manager was offering the extended warranty and the Stop Gap Insurance, it was easy for me to explain what they were. Regarding the warranty, it was equally easy for Taylor to pass - after all, it is a Mazda/Toyota and the dealership gives her (in writing) a lifetime powertrain warranty for internally lubricated parts. She struggled with the S/G insurance and at one point, I matter of factly told Taylor that they will not let her take the car unless she makes a decision. As she was showing signs of desperation (Dad - tell me what to do!!!), I did the best thing I could. I told her what I would do.So she passed on the $600.00 policy and 10 minutes later, she's off to the races (God - PLEASE tell her to SLOW DOWN!!!!!!!).The next day I got to thinking. She's got a 60 month note. She did put some money down, but what if (heaven forbid) she totals the car soon? Could she get upside down in the loan under circumstances beyond her control? Unlike her mother and I, she doesn't have any money to bail herself out. Hmmmm......I called someone that I trust in matters of finance. We went over some numbers and it would appear she made the right choice. His GENERAL rule of thumb was that if the vehicle is worth under $40K, putting 10% down should keep you in the black regardless. With today's low interest rates, you are basically paying all principle every month, so the loan takes care of itself. Over $40K can't really be generalized - too many variables to discount.Tootie's coming over for our weekly Sunday lunch. I purposely forgot something at the grocery so we can take a ride together. I just wanna see her face in the driver's seat again.</blockquote>

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