car insurance question

rjh090384

hi

need to buy a new(used) car and spotted one i likethat i can affford to pay for tomorrow but i cant afford the insurance until next week - can i pay deposit and set up a direct debit for car insurance but then call them and say i changed my mind and can i pay it in full? any advice appreciated thanks

flashg67

Yoy'll need to ask them first - I pay mine monthly, and it's done in the form of a seperate credit agreement (loan!) (eg. with a totally seperate credit provider, rather than the insurance provider), so once you've signed, you'll likely need to pay the whole amount including interest, even if you settle early (with the possibility of a small early payment rebate).

Can you not arrange to pay a deposit on the car and collect it when you can pay the insurance too? This might be one of tose times when a credit card is useful and put the insurance on it and pay it all off asap?

forgotmyname

I dont think your likely to save much, Better waiting a week untl you can pay or just leave the installments running.

Unless as mentioned pay on a credit card and then pay that off.

If its less than 7 days and subject to your age and the vehicles age you can get driveaway insurance with a HPI check.

You need to get a quote from AVIVA. As usual terms and conditions apply.

rjh090384

I am a student with no income so can't get a credit card. You save about £350 paying upfront rather than monthly and as a single parent with a baby on way I need all money I can get. I think the person selling would rather take whole amount than take half off be and half in a week. I'm reluctant to pay full amount and leave it sitting for a week too though.

cardinalbiggles

rjh090384 wrote: »

I am a student with no income so can't get a credit card. You save about £350 paying upfront rather than monthly

£350!!!! that's more than my insurance for the year! It was something like an extra 20 quid when I took mine out to go monthly but I pay yearly. When I was younger I used to pay monthly when pennies were tighter as it allowed me to spread the cost and it wasn't that more expensive back then to do it.

rjh090384

They charge a finance agreement apr for paying monthly now is ridiculous. And I'm 27 but have no no claims due to claiming for my car being flooded two years ago so insurance for a low engine old banger is minimum £750

property.advert

They ain't stopping selling cars this week you know !

Wait a week.

rjh090384

I go back to Uni Thursday and need it for next Thursday so I have to get it today or tomorrow.

paddedjohn

shop around for your policy, last Feb i helped my daughter renew her insurance and when we found the best quote for her, £780 odd for a 21yr old we thought that was good, she tried to pay it off in one go but for some reason this would have upped the price to nearer £1100. So by paying monthly she only pays £780 but if she paid it in one lump its £300 more?????????? total madness.