Car insurance quote?

Question

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

Answer 1

Under your circumstance,I suggest here for you to have a visit.http://car-insurance.online-tips.info/ca...

Answer 2

8 % is quite high   take it you have checked all  the others

elephant

tesco compare

confused .com

??????

Answer 3

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.