Admiral Group APR

[Magic Johnson]

Anybody know what this is? Pretty sure last time I did my insurance they ramped it up another £160 overall because I chose to pay it monthly.

Just come in to a bit of money and think the best way I could spend it is by paying it off in a oner.

 

[EllD90]

I'm with Bell and they removed all my online discount and added on extra interest for the policy, if I wanted it monthly. Worked out stupid.

 

[Magic Johnson]

Hmm, ok, my question has changed. Less specific, what is the APR overall most insurers charge?

I know this might seem stupid in the long term but if it saves me £100 over the year then that's a bonus, definitely.

 

[theduck]

Pretty sure last time I did a quote it was over 30% apr. Just do an online quote and it will tell you.

EDIT:

Anything between 0% (Virgin) and, well then the skies the limit, but normally not more than 40%.

 

[Magic Johnson]

Pretty sure last time I did a quote it was over 30% apr. Just do an online quote and it will tell you.

I did, all the common ones said 'Call for more details'.

 

[theduck]

Thats because your lazy and used a price comparison site, go on the insurers sites and it will tell you

 

[EllD90]

Why don't you ring and ask them? Or get 0% credit card if you don't want to pay it all off.

 

[Beef-Mc]

Very few places are doing 0% credit cards for long term deals

 

[Magic Johnson]

^ Beef.

That's why I'm thinking along these lines. I just wondered if anybody knew as opposed to waiting 10-15 minutes to speak to an Indian who probably won't know.

 

[AlanHod]

I had the same issue so I rang them up, spoke to a really helpful lad at admiral who cleared things up. The interest i thought i was being charged was well over the 8.8% (if i can remember) that was on the back of the cover note so i asked what it was all about. When paying in full for a policy you also get an upfront payment discount which was between 18 and 23%. When i worked everything out it was correct and an upfront payment was saving me 18%.

I paid in full on credit card so it works out a lot cheaper! I paid it off within a couple of months as i can afford a lot more than the monthly payments admiral would have wanted.

Hope this helps.

 

[Magic Johnson]

Thanks very much pal. :approve: