Car insurance on interest free credit card?

Nealmason1986

Ok i am due to renew car insurance and been looking for quotes

Found an amazing price on elephant

works out as £870 a year which is about 72 quid a month

Well i rang them and they told me that if i paid on installments it will be more expensive and told me 94 a month

now that 22 pound more expensive

Well this is my question

I obviously cant afford that up front. and as well as this my credit card no long has its interest free time running on it so im going to do a balance transfer.

Sooooo.

If i paid the £870 on my credit card and then get a virgin credit card and do my balance transfer i will then have 15 months interest free on my transfer

this means i can pay the credit card off over the 12 months and pay 72 a month to the credit card rather then pay 94 for the same thing to elephant?


Is this a good idea?

Shimrod

The cost of your insurance will go up to £896 after adding in the balance transfer fee.

It's a good idea as long as you can get the virgin card. I'd apply for the card first before you get the insurance on your current credit card, otherwise it may prove a lot more expensive.

Have you used the insurance comparison websites to make sure the Elephant deal is the best price?

McKneff

Have you checked that your insurance company dont charge for paying with a credit card - lots do and its up to 4% of the amount.

Nealmason1986

its by far the cheapest quote

nearly 300 pounds cheaper

even with a 4% balance transfer and 4% credit card its still cheaper

however i dont think there is a credit card charge

thanks for the advice

How important is the address of my employer. I work for greater manchester police and im not sure what address to put down

do i put the address of head office in manchester and if so jus the general address?

freaky_stuff

sorry i cant really give you any advice on credit cards as i always pay in full or monthly.

But i just wanted to make you aware that elephant automatically renew for you when your insurance expires and you will have to cancel otherwise they will charge it to your card.


Elephant were the cheapest for me last year, but this year my insurance is £200 higher. So i am looking elsewhere

Nealmason1986

thanks for that freaky

do u rate elephant then?

ill remember to cancel it when it comes to 12 month

freaky_stuff

well i havent had a claim with them so i cant really say how well they treat their customers and how efficient they are on that side.

However, i did have to change a few details when moving house and that was straight forward and efficiently dealt with. But i only went with them after talking to a family member who when had a n accident whilst they were his insurers they were prettu good. So if they were the cheapest for me again i would go with them - so yes i do rate them.