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new insurance - pay lump sum OR monthly?

BartGirl
BartGirl Posts: 510 Forumite
in Insurance & life assurance
I'm pretty new here, and the time has come to renew my car insurance for April.

I intend to go through Quidco, but would like advice; i usually pay monthly on my car insurance. Would this affect my Quidco cashback? Or is it advisable to pay the lump sum?

Thanks!
CC1: [strike]1,500[/strike] CC2:[strike]£830[/strike] Vanquis [strike]£1500[/strike] £2000 left
S.Elec: [strike]£258[/strike] £ 0
CT [strike]1734.52[/strike] £ 0
Ebay £ 10.00 /MystShop £ 17.00/Quidco £ 0 so far!

Comments

  • lisyloo
    lisyloo Posts: 30,113 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I don't think it makes any difference to the cashback but check out the APR, often the interest you are charged is quite high.
    So if you have the money available or can easily get it cheaper then it may be worth paying it up front.
    For example AMEX are doing a 5% cashback deal for the first 3 months, so if you have a cashback credit card, or 0% card then use that.
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