i usually pay all in one go but this year I'm pretty skint. they want 620 quid for the year.

what are my options? ideally id like to pay about half of it now and the rest around april is this possible? company is tesco.

or...

do i have to pay a deposit (is this agreeable) and then pay installments up until when i can afford to pay the rest off and then just clear it whats left?

anyone know what I'm getting at?

hey man, i was in the same situation about 3 months ago! ideally i wanted to pay upfront but i couldn't afford the full payment! with elephant i pay it by direct debit and i had to put down the first months payment as deposit! it does work out a good £100+ more in the long run but at the time it was my only option! I'm not sure what the case will be with tesco's I'm affraid! I'm paying about £70 a month!

Edited 8 January, 200719 yr by rossco86

I pay in installments, always have. Generally I have found that you get charged interest on top of the premium if you do this, but this year I went with Virgin Insurance, and the premium was the same whether I paid all up front or in installments. And they were the cheapest.

Dan, most insurance companies will charge you a percentage if you spread the payments. The best way to avoid being shafted is to get a credit card that offers 0% on purchases for 6-12 months. Pay your insurance on the credit card, and then you wont pay a bean extra.

Ps make sure if your card is only 0% for 6 months that you cut up the card/cancel it and transfer the balance onto another card till you've paid it off. This is where most credit card companys make their dollars as after 6 months the apr will shoot up to 15+%. Well worth doing matey as its basically getting a free loan.

cheers ben i might do that!

Dan, most insurance companies will charge you a percentage if you spread the payments. The best way to avoid being shafted is to get a credit card that offers 0% on purchases for 6-12 months. Pay your insurance on the credit card, and then you wont pay a bean extra.

Ps make sure if your card is only 0% for 6 months that you cut up the card/cancel it and transfer the balance onto another card till you've paid it off. This is where most credit card companys make their dollars as after 6 months the apr will shoot up to 15+%. Well worth doing matey as its basically getting a free loan.

A mate of mine always swears by that method for credit too

Haha. card jumping, I know people who make a living by doing it, and they get good credit rating because no matter what, the creditor is always paid off within the 6 months. Can also be a risky game and will lead to larger and larger debts, as already said, if you intend to do this, cut the card up before you put anything else on it.

ideally id like to pay about half of it now and the rest around april is this possible?

I'm with RAC Insurance (pretty much Norwich Union but cheaper), you can pay with 2 installments (half at the start of the policy then half in 6 months).

get a really good loan, pay off the insurance in one go, and pay off the loan. its usually cheaper, dpeneding on how you do it, and helps build a good credit rating.

JB