Overhaulin'

car insurance quote?

i want to go ahead with a car insurance company and i got a yearly quote online with them,as i want to pay direct debit monthly i phoned up to see what the monthly amount was with interest charged. i just want to check that this is accurate. the yearly amount quoted was £353.95 making it £29.50 per month . they charge 8.5% interest on any direct debit or credit card payment adding the 8/5% interest they then caluclated my monthly amount to be £34.81 yet it thought that :- 8.5/100 * 353.95 = £30.09 interest 353.95 + 30.09 = £384.04 total to pay £384.04 / 12 = £32 per month is this right? i know its only £35 per month, obviously im looking for the cheapest deal possible! but i just wondered why it was a different amount? help??? ta x

Public Comments

1. 8 % is quite high take it you have checked all the others elephant tesco compare confused .com ??????
2. Did they say how many monthly payments you would be making? Last time I paid for car insurance in monthly instalments I had to pay 11 instalments. In your example, £353.95 plus £29.50 interest gives a total of £383.45. Dividing this by 11 would give monthly payments of £34.86. so, this could be the reason for the higher payments, but check with the insurance company.
3. Under your circumstance,I suggest here for you to have a visit.http://car-insurance.online-tips.info/car-insurance-free.htm