a situation in which someone buys a Bugatti Veyron, and then, totals it, but does not have insurance because they cannot afford it due to the extreme cost of a Bugatti Veyron.
Ricky: dude did you hear about Luke?
Ricky: he totaled his new Bugatti.
Nick: doesn't he have insurance?
Ricky: no,blew he blew it all on the car.