Paying for insurance with installments
26 November 2007, 08:44 PM
#1
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Paying for insurance with installments
I had a lowest quote recently for £740 to renew my Scoob.
However, when I asked to pay by installments, the price went up to £1190, with a first payment of £230 and the remainder in installments of £98.
Why is finance on insurance such a rip off? Loan sharks probably charge a lower rate.
Are there any insurance companies that don't charge such a high rate? Even if the initial quote is higher, the full amount could easily be much lower.
However, when I asked to pay by installments, the price went up to £1190, with a first payment of £230 and the remainder in installments of £98.
Why is finance on insurance such a rip off? Loan sharks probably charge a lower rate.
Are there any insurance companies that don't charge such a high rate? Even if the initial quote is higher, the full amount could easily be much lower.
27 November 2007, 11:57 AM
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I'd love to be in a position to do that, but I'm not right now. Thanks for the suggestion anyway. I will be doing that next year though, if I don't pay the whole premium in full, that is.
Looks like I'll just have to be ripped off by another insurance company - again.
Looks like I'll just have to be ripped off by another insurance company - again.
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