Your Comments: Electric Cars, Charities, Rental Car Rip-offs

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Money Talks is a two-way street: We welcome your comments, suggestions, stories, and advice. Here are a few comments on some of the articles we published last week.

Clint via Facebook about 5 Reasons NOT to Buy an Electric Car

Though I do agree with some of the statements in this article, I would like to point out that this is the future of driving and there absolutely HAS to be some early adopters.  If not, it’ll never come to fruition.  This is basically what happened when GM introduced the electric car.  People sat and talked about how there were so many problems with the infrastructure and few people tried.  Now, gas prices are over $4 a gallon and it’s finally hurting people.  I mean, seriously, I’ve heard people say that they can barely afford food because it costs them so much just to drive to work, which is supposed to be for affording food, clothing and other costs… not just to afford gas so that they can keep driving to work.

I see the issues in this article as being minor… well, except the initial cost.  However, adopting electric will result in the infrastructure being built, the costs will go down and gas will become cheaper for other things like producing electricity.  We use so much for commuting that it drives up the cost for other things like heating and producing electricity…Those costs will go down for consumers eventually…

Andrew  via Twitter about When You Donate to Charity, Are You Donating to a Bank Too?

Very good article. My only comment is about when you say “write a check.” That is actually one of the most costly versions of giving to a nonprofit because of the staff time involved in opening the mail, entering the gift and depositing the check. It calculates out to more cost in time than a 3-7% credit card and services fee. Online donations allow for convenience for not just the donor, but in the data management efficiency within large and small nonprofits alike. I encourage donors to give extra in order for the full amount of their intended donation to make it to the organization. In a perfect world, Visa/Mastercard/Amex would donate at least a portion of their fees to nonprofits in order that their credit card fees could be closer to 1% instead of 3%. Thanks.

Jim via email about Car Rental Rip-Offs: 6 Things to Watch For

Your article on rental cars the other day was correct as far as it went. Being in the insurance business we are confronted with idiots on a regular basis. I mean what I said when I said “IDIOTS” so let me expand.

When one rents an auto from any rental company today and does not opt for their “collision waiver” and has an accident no matter whose fault the following happens. The rental company immediately maxes out your credit card until they are sure your auto insurance company will pay for the damage if need be. If the accident is your fault and your insurance company will pay collision damages on the rental vehicle, when the auto is fixed the rental company demands down time because they could not rent the vehicle while it was under repair. This claim is not covered by the vast majority of insurance companies so the renter must pay this amount which, depending on the severity of the damage and how long it takes to fix the auto, can run into a substantial amount of money as they always say they could have rented the auto every day while it was under repair.

Rental companies will also charge for diminished value of the auto because it has been wrecked which can also run into thousands of dollars depending on the type of auto rented.Insurance companies also will not pay for diminished value of the rental auto.

The above can be avoided if one buys their “collision waiver” which I admit is expensive especially if one rents an auto for more than a few days but the downside can be a nightmare because these companies are ruthless to say the least.

When you read an article here, let us hear from you: Add a comment after the story or on Facebook. And if you have story ideas, fire away! Money Talks isn’t just another website about money – it’s a community where we can all learn from one another.

Stacy Johnson

It's not the usual blah, blah, blah

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