Bell Direct 14 day cancelation fee charges: What will I pay?

notanewuser

And can't/won't back out because "I've told everyone I'm getting it now".

(FTR I drive a 400+bhp modified car. However, I worked my way up to it and got it at 27. Insurers were happier because I hadn't jumped straight into it, and first year's insurance on it was £1k.).

Car_54

And can't afford to run or insure it for the next four months.

Foxy-Stoat_3

chicoe wrote: »

I don't no, but if I did have an accident which wasn't my fault, I assume, I wouldn't need to pay the remainder yearly policy in one go, espcially since I did not cause the accident, and the insurer and myself would be claiming off third party?

You dont "no", you can't afford the £600 a month or you dont "know" you can afford the £600 a month?

If you had a total loss then the insurer will probably deduct the remaining insurance premiums from your payout, less the excess.

If you had an accident were the car was repairable then your monthly installments will continue as normal but you would be unable to get a refund on your policy, ie if you stop the direct debit then they will pursue you for the premiums.

If it wasn't your fault you would not be able to claim the cost of the insurance from the third party.

Shall we will wait for a reply after 3:30pm

LOL

Herzlos

chicoe wrote: »

I don't no, but if I did have an accident which wasn't my fault, I assume, I wouldn't need to pay the remainder yearly policy in one go, espcially since I did not cause the accident, and the insurer and myself would be claiming off third party?

Assuming you can claim from the 3rd party and your insurer doesn't get involved at all.

This sounds like a terrible idea - why not just buy the car in January and do it properly?

Edit:
thinking about it a bit more it's a really terrible idea. I assume that the transaction your doing (take out seriously high premium insurance and cancel within 14 days) flags up for fraud investigation, as it's most likely being used to get an insurance certificate or tax., especially if you still own the car. It might not flag if it was a £200/year annual policy but most definitely would on a £7000/year policy.

Further to that, you're spending a huge amount of money on a car you're not going to drive for 4 months - flights to Aberdeen, overnight accommodation, fuel to get back, 4 months repayments on the £11k loan. Your payments aren't going to go down much either in January, so you can forgive us for assuming you're trying to do something dodgy (none of what you're doing is novel, just ill-advised).

Maybe it's a good deal on the car, but you're potentially better off paying £1500 more for a local one when your insurance drops.

But really, paying 75% of the cars value in insurance annual is nuts. Why do you need the R32? Almost no-one will notice the difference between that and a GTI apart from car-buffs and they'll understand "£7k insurance for the R32 though" as being a perfectly good reason.

OddballJamie

I hope they've pre-approved you for the insurance finance too as having a recent £11,000 loan and then another £7,000 in finance for the insurance may cause some problems.