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I want to go ahead with an insurance car and has an online offer every year with them, because I i want to make the monthly payments called to see what was the monthly interest amount. I just want to verify that it is correct. the annual amount was quoted £ 353.95 £ 29.50 that month. they entitled to charge interest at 8.5% on direct debit or credit card payment, plus interest 8 / 5% then the Amount of my monthly payments to £ 34.81 but they thought – 8.5/100 * 353.95 = 353.95 Interest £ 30.09 + 30.09 = 384.04 EUR Total to pay £ 384.04 / 12 = € 32 per month that is correct? I know her for only € 35 per month, of possible during the search for the best agreement! But I wondered why it was a different amount? Help? ta x
Did they say how many monthly payments would you do? The last time that I paid for car insurance monthly installments, I have 11 installments are paid. In your example above £ 353.95 £ 29.50 interest for a total of EUR 383.45. 11 would be divided by the monthly Payments of € 34.86. If so, this could be the reason for the higher payments, but check with the insurance company.
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