I have just been accepted for a 60 month loan of 11500 to put towards a new car. Despite being assured that payment protection was optional I have been sent a form to sign saying that monthly payments are 269. It also says that the payment for the actual loan is 231 of this and the apr is 7.9%. So it looks like the insurance is costing about 40 which sounds like a lot considering it has a 180 day excess on it. Anyway there doesn't seem to be anything on the form to specify you don't want it but the terms say you have
30 days to cancel it and all premiums will be refunded. Should I go with it and then cancel it in a week or so or ring them to tell them and risk them withdrawing the loan offer?- posted
19 years ago