car insurance by DD

mum2one

Have you tried the AA, they offered me the 12month payment, the interest they quoted was £26 for the year. (the policy with legal cover was £234.00). x

BLT_2

They are actually far more cunning than just charging you interest. In many cases in addition to charging you interest on the payments they also remove online discounts. This is why in the case of many a initial quote of around 600 pounds can rise to almost 800 pounds by the time you finish. The interest rate I understand, the removal of online discounts is galling.

mikey72

BLT wrote: »

They are actually far more cunning than just charging you interest. In many cases in addition to charging you interest on the payments they also remove online discounts. This is why in the case of many a initial quote of around 600 pounds can rise to almost 800 pounds by the time you finish. The interest rate I understand, the removal of online discounts is galling.

They have to phrase it that way.
If they admit it's all a finance charge, (which it is in reality, as the insurance is paid up front, you then pay off the loan), not many people would go for an APR of from between 75% to 200%, and the insurance company would probably end up on Watchdog again.