Purchasing car insurance, anyone that I dont have to pay a deposit with?

Soldato
Joined
1 Dec 2004
Posts
21,964
Location
S.Wales
Hi,

Im shopping around for car insurance. I was just wondering though, is there many cheap companies out there at the moment which just ask for monthly payments and not an upfront deposit?

Would help me out alot this month if I didnt have to pay the last payment on my current policy, then another £100+ quid for a deposit on a new policy.

Have far too many outgoings this month :(
 
Soldato
Joined
25 Feb 2004
Posts
16,707
Location
Portsmouth
Get yourself a credit card with a long 0% on purchases - I expect you could find one that still exists, and put the insurance on that and pay it off over the year!
 
Soldato
OP
Joined
1 Dec 2004
Posts
21,964
Location
S.Wales
Get yourself a credit card with a long 0% on purchases - I expect you could find one that still exists, and put the insurance on that and pay it off over the year!


Examples?

I already have an Egg card with a £400 credit limit, but thats maxed out :(
 
Soldato
OP
Joined
1 Dec 2004
Posts
21,964
Location
S.Wales
Halifax, bank of scotland doing 9 months deals at the moment!

So its 0% interest for 9 months on purchases, then after 9 months you start paying interest?

What about cards that offer 0% on balance transfers for 12 months or would it be better to stick to purchasing on credit card?
 
Associate
Joined
17 Oct 2002
Posts
2,157
Location
London
Can't help you on the policy front but maybe you could get your bank to temporarily create/increase your overdraft.

The big danger of a second CC is you'll end up maxing that too. Seen too many people that :(
 
Associate
Joined
15 Aug 2006
Posts
1,735
Location
Leicester UK
Hi,

Im shopping around for car insurance. I was just wondering though, is there many cheap companies out there at the moment which just ask for monthly payments and not an upfront deposit?

Would help me out alot this month if I didnt have to pay the last payment on my current policy, then another £100+ quid for a deposit on a new policy.

Have far too many outgoings this month :(
A lot of companies take a deposit and 10 further months of equal payments. If you go with one of those, you wouldn't have the overlap problem again.
Also, you could probably get any credit card and the standard interest rate would be cheaper than what the insurance companies usually charge.
 
Soldato
OP
Joined
1 Dec 2004
Posts
21,964
Location
S.Wales
Can't help you on the policy front but maybe you could get your bank to temporarily create/increase your overdraft.

The big danger of a second CC is you'll end up maxing that too. Seen too many people that :(

No way I can get an extension on my overdraft

If i get a 0% credit card, just pay for my insurance for the year, decrease my credit limit after I have payed, or simply cut up the card.
 
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