I don't take him at his word. I try to present it more as: This is what Phil said, this is how stupid you would have to be to invent what Phil said, this is how stupid you would have to be to have actually had that happen.
Phil is a compulsive liar. It makes me laugh hearing him say "The air-bag melted ALL the skin off half my face."
Sometimes Phil's been in 2 car accidents, sometimes 3, sometimes many. He's told the high school one many different ways, his latest iteration combines 2 older stories he told. Sometimes the maniac drove behind him at 100 mph, sometimes the guy swerved in front of Phil and made him crash. . .and as Phil tells them they all sound like really dumb lies, and if any of them happened like Phil tells them they make Phil sound like a really dumb guy.