Finance Questions

Posts Tagged ‘insurance’

Question: Is It really that expensive to have a car in england ?

I've just been looking around the internet to find good car deals in england, the problem is its bad enough that car prices are relatively high (especially with the economic situation) now add to that the car insurance cover which costs around £3,000 per year for a CITROEN or for any car of that matter ! I was also considering a small loan to help finance my car, and it turns out the best deal was an 8.9% rate and I have to pay almost £300 a month...the road tax is £125 !!!

Answer: To pay £300 a month you're aiming for a pretty expensive car (or a very short-term loan). I guess also that's why your insurance would be £3000 a year. £125 is cheap for car tax I'm afraid.

You could get a small car for around £4000 which would cost approximately £150 a month. If you got a small car like a Ford Fiesta you'll find your insurance is a lot cheaper too, and your car tax.

Once you hit 30, insurance comes right down. Mine's only £350 a year for a city centre address and a gp 11 car.

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Question: If I want to sell small items valued at 100 dollars or less, would insurance companies pay me if the loans go?

If the loans go bad, can I get my money from an insurance company? Like does a policy exist for cases like this? Even if the premium for $100 is ten dollars I could tack that into my costs. Has anyone have any experience in something like this? I am hoping to finance many items possibly 500 items this way so there would alot of insurance premiums to be paid to the insurance company to make it worthwhile for them.

Answer: What loans? Is your business selling, or financing?

And likely, for very small amounts, assuming you're not "prequalifying" the people borrowing money off of you, no, they won't insure this. They can't get enough premium to make a profit at it.

If someone can't afford to buy something for $100, they SURE as heck aren't going to pay the loan off.

Auto Insurance : Single-Premium Auto Insurance