yogibear47.lee Posted February 7, 2009 Share Posted February 7, 2009 hi i got my insurance in the post and i got a credit agreement in another letter do i need to sign it and send off because i read my insurance and it say if i sign then cancel half way through i still have to pay it off it like a loan i dont know if i can not sign it and just pay like i have on other insurance, this is the only company who sent me it when i have got insurance out Quote Link to comment Share on other sites More sharing options...
TheRecklessEngineer Posted February 7, 2009 Share Posted February 7, 2009 It sounds like you have opted for a pay monthly scheme - the credit agreement will be with a third party. Ring them up and say you want to pay in a lump sum. Quote Link to comment Share on other sites More sharing options...
yogibear47.lee Posted February 7, 2009 Author Share Posted February 7, 2009 i havent got the money to pay it all off Quote Link to comment Share on other sites More sharing options...
Anderzander Posted February 7, 2009 Share Posted February 7, 2009 Check what there APR is - it may well be cheaper to pay back a credit card. If the APR isn't bad - and you don't plan on cancelling your insurance - then you've no problems. Quote Link to comment Share on other sites More sharing options...
waveydave Posted February 7, 2009 Share Posted February 7, 2009 I'm with Adrian Flux. I also pay by monthly instalmants. When i took out the policey it wasnt explained to me it was a third party lender. I suspect it's the same with you also. The biggest and most important factor is if they didnt inform you of the method they farm out the credit they are in breach of FSA regulations and there have mis-sold you the insurance product and more importantly iligaly signed you up for a credit agreement. It is for them to be 100% transparnt with the information you require not for you to find out or do your own research, this include how they work your credit, also if theres an APR attached (as there is with Flux) then they have to go through ALL the facts in a damands and needs staement or there in BIG do do If you have problem contact the FSA, they aint a toothless body they do have the power to fine the living carp out out brokers who miss sell or miss lead client. PS did they even inform you of the FSA ? http://www.fsa.gov.uk/ Quote Link to comment Share on other sites More sharing options...
MrHT Posted February 7, 2009 Share Posted February 7, 2009 find a way to pay in one lump. if you do the maths you'll probably find it cheaper to go with the nfu on a pay monthly. I'm with the flux and it was 180 fully comp but if I paid monthlt it came out at about 300. I know it seems harsh to say find a way, but i'm really getting titssed off with companys at the moment who are making a packet of us mere mortals. recentaly went to the bank to ask about loans and the best they could come up with was 19.5 % and I own a home the woman said that was good and the avarege she had been giving out quotes for recentaly was 24.5% Quote Link to comment Share on other sites More sharing options...
FridgeFreezer Posted February 8, 2009 Share Posted February 8, 2009 I pay monthly with AF and I'm sure it doesn't cost that much extra, FWIW I've found them to be very helpful so far. Insured both my cars with them, the 109 is agreed value and modified and they didn't bat an eyelid. Quote Link to comment Share on other sites More sharing options...
Phil Posted February 8, 2009 Share Posted February 8, 2009 I've used Adrian Flux for a number of years and always had good service and reasonable premiums. I renewed before Christmas but paid the premium in full at the time. I didn't read the 'bumpf' about monthly payments so I've no idea what the arrangement is. If it is the case this option involves a credit arrangement with a third-party then I suggest you follow the advice in the earlier post. Phil. Quote Link to comment Share on other sites More sharing options...
LandyManLuke Posted February 8, 2009 Share Posted February 8, 2009 I'm with AF, had a disco on pay-monthly, it wasn't that expensive, cheaper than i could get a credit card for. I cancelled it after two months, and ended up with a small refund for the last fews days of the month i didn't use. can't ask fairer than that. Quote Link to comment Share on other sites More sharing options...
paintman Posted February 8, 2009 Share Posted February 8, 2009 What have AF said to you by way of explanation? You have rung & asked them haven't you? Quote Link to comment Share on other sites More sharing options...
yogibear47.lee Posted February 9, 2009 Author Share Posted February 9, 2009 they never told me about a third party, im ringing them today because they cocked something up and i will be asking them if i have to sign it Quote Link to comment Share on other sites More sharing options...
suggs Posted February 9, 2009 Share Posted February 9, 2009 been with them for years and a few times used the monthly scheme, wasnt much more to do it, think about £40 or so.. Quote Link to comment Share on other sites More sharing options...
tacr2man Posted February 9, 2009 Share Posted February 9, 2009 NFU and its a mutual as well so the longer you are with them the better it works as profits lead to members getting reduced premiums (no money syphoned off to share holders) Quote Link to comment Share on other sites More sharing options...
Billy Bones Posted February 9, 2009 Share Posted February 9, 2009 Hi if you have your certificate of insurance from Flux and have opted for direct debit monthly payments then it should be accompanied by a TERMS OF BUSINESS document, broker is required by law to ensure you have a copy as per FSA, it will have all the information you require (small print) if you dont want to opt for the monthly direct debit, ask AF for installments over 3/4 months its available! I have been with Flux for years and have had no problems at all, even with off road use and modifications etc, most of our club members use them now and we benefit from a club discount direct debit only puts the yearly premium up by £35-£40 approx on a £225ish policy, but when the pennies are tight well worth it. Quote Link to comment Share on other sites More sharing options...
Stretchie_ Posted February 9, 2009 Share Posted February 9, 2009 I'm with Adrian Flux, it was all explained to me and had the paperwork through so signed and sent off. Also covered for greenlaning too ; ) I have no idea if this a standard on 4x4 insurance Quote Link to comment Share on other sites More sharing options...
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