1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Passed my test!

Discussion in 'Motors' started by Phoebs, 20 Mar 2008.

  1. K.C. Leblanc

    Sgarrista

    Joined: 13 Sep 2003

    Posts: 8,126

    Location: Glocestershire

    I've never had to do it, but I don't see why they shouldn't just refund you, although they'll probably make you wait. Bare in mind when you agree to do insurance monthly you are effectively getting a loan from the insurance company.

    It also has the advantage that if you were to miss a payment you get a snotty letter from the bank and a fine instead of having your insurance cancelled.

    I relise it's not worth the effort for you because the saving would only be about £30. But when your insurance is in four figures and the insurance company are charging 20% the saving will be £200.
     
  2. InvaderGIR

    Capodecina

    Joined: 14 Jul 2005

    Posts: 17,615

    Location: Bristol

    Having an accident where a claim is against you (if you claim or someone else does) though means you still pay the rest of the monthly payments...as I found out.

    As for burning etc. the card...it is a possibility, but to be honest it doesn't matter a great deal, I have a placement coming up for a year on like £14k+ so will be paying off either as one lump if I can straight up, or monthly to start off with and then the rest when I can...I don't like being lumped with monthly. May think about a card when it's closer to the time I'd need it. :)

    InvG
     
  3. Jez

    Caporegime

    Joined: 18 Oct 2002

    Posts: 32,619

    I cancel policies ALL the time. They refund instantly on a daily rate plus a small cancellation fee, this fee is the same regardless of whether you are monthly or not. All paying monthly is is a high rate loan.
     
  4. GT3

    Sgarrista

    Joined: 18 Oct 2002

    Posts: 9,205

    Location: Chesterfield

    6.5% with quin direct, hardly high rate??
     
  5. Jez

    Caporegime

    Joined: 18 Oct 2002

    Posts: 32,619

    Thats very good, thats not the norm. Its still rubbish compared with the 2% you can get via balance transfer though.
     
  6. K.C. Leblanc

    Sgarrista

    Joined: 13 Sep 2003

    Posts: 8,126

    Location: Glocestershire

    Anyway congratuations Pheobs.
     
  7. Meatball

    Soldato

    Joined: 12 Jun 2005

    Posts: 6,296

    Location: St Albans

    Ok, I'm very concerned now. I'm with Quinn Direct with my Peugeot 206 (1.1Ltr LX, 5DR, X-Plate). The premium was £1000 (inc windscreen and breakdown recovery) Will my premium go up as well when I pass (next couple of months hopefully)? :(
     
  8. InvaderGIR

    Capodecina

    Joined: 14 Jul 2005

    Posts: 17,615

    Location: Bristol

    Most likely...what's even better is if you are male it'll go even higher than you want. :)...damn insurance companies. :(

    InvG
     
  9. [TW]Fox

    Man of Honour

    Joined: 17 Oct 2002

    Posts: 156,932

    Monthly insurance is a loan. It is debt.
     
  10. InvaderGIR

    Capodecina

    Joined: 14 Jul 2005

    Posts: 17,615

    Location: Bristol

    Yes Fox but I'm talking about bank account status/level. :)

    Anyway, my finances really don't help this thread ;)

    InvG
     
  11. Meatball

    Soldato

    Joined: 12 Jun 2005

    Posts: 6,296

    Location: St Albans

    I can barely afford the insurance atm, man that sucks!
     
  12. Vonny

    Gangster

    Joined: 13 Dec 2007

    Posts: 145

    Well done on passing tho mate, I have my 1st test in a couple of weeks:eek:
     
  13. Clarkey

    Capodecina

    Joined: 18 Oct 2002

    Posts: 18,114

    indeed it will, a lot. I was another one who was given a very favourable rate by quinn with a provisional, they wanted about 40% more after I passed iirc :/
     
  14. Meatball

    Soldato

    Joined: 12 Jun 2005

    Posts: 6,296

    Location: St Albans

    just ammended the quote I got online using my provisional insurance to as if I've passed and it looks like I'm going to be paying a minimum of £2,000, double the price :(.
     
  15. unknown79

    Gangster

    Joined: 13 Jul 2005

    Posts: 192

    Location: Wigan

    Another one here who was screwed over when i passed. Went from £1200 on my provisional to £1900 on a Rover 25 1.4 :(