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Ask Dave

Fender Bender

Dave tells James to not file a claim but to bust out the emergency fund after his son gets in a fender bender.

QUESTION: James has a 16-year-old son who hit someone with his car. It will cost $1,000 to fix it, and cost another $800 over the next three years if he files a claim. He has that much in his baby emergency fund. What should he do?

ANSWER: Fix this car with cash. Don’t file a claim ... just pay for it.