Most of us at some time have applied for car finance to help us get the car we really want. It doesn’t matter what company your looking at using this article should insure your not going to be making any car finance claims in the near future.
It doesn’t matter who you took the car finance out with. If it was within the last few years there’s a good chance that you were offered a way of protecting your payments in case you become ill or loose your job.
That protection offered is payment protection insurance also known as PPI.It was offered to make sure you didn’t miss an installment on your loan.
When you took out your car finance you should have been filled out a questionable on behalf of the lenders. This was designed to check your eligibility for a PPI policy. How ever over the course of your loan circumstances may change. For example you find a new partner who would temporarily cover your loan payments if required. Therefore you PPI policy would no longer be required.
Were you made aware that you could choose different providers for your Car finance PPI policy?. Choosing a provider who better fitted your needs and may have even been cheaper. There are plenty of providers out there and you are not duty bound to take out your policy with the suggested provider.
Like all other policies you need to check the small print as it will lay down strict terms. It will have circumstances listed which may lead to payouts. There are usually exclusions listed in the policy so you should make yourself aware of these before trying to make any car finance claims.
Consumers should always be advised to check the small print of car finance policy’s before signing and committing to take out what is a long term financial commitment. Don’t be pressured into signing anything. If you need to take some time before signing the documents no company worth dealing with would pressure you into signing there and then.