Car loan without insurance

Car insurance purchased on credit, it has become a requirement of many banks. To get car loans to buy a car, the borrower must take out insurance Hull in the UK which is in partnership with the bank. On the one hand, this is a good thing: the creditors are closely monitoring the state of affairs in the selected insurance company, as the first beneficiaries are they. And most of the UK in the list of the bank is not one, but several. The only problem is that the insured credit car on Hull cost much more than the same car, but without credit. Many motorists question arises: is it possible to get a loan without insurance auto-Hull? And what will happen if you do not make out insurance on a car loan at all?



Car loans without car insurance
It turns out that a number of banks have developed and applied the program "Car loans without insurance car", on which you can buy a car on credit without insurance . True, the borrower is required to pay a pretty big down payment and interest on auto loans without insurance is higher than with a mandatory insurance. In addition, the list of cars that can be purchased under these conditions, has some limitations: most new cars is not more expensive than a million rubles. How to find a bank? You can use the links on this page or search the site (left panel), and you can type in the Google search phrase "Loans without insurance" and see what there was on the part of car loans.

The more profitable loan for a car without insurance
Loan for a car that does not oblige to buy insurance is good that insurance premiums can be saved. You can find an insurance company with low tariffs, but you can do without a car insurance for credit, since she is not required. That is, the borrower is completely decoupled hand in choosing the insurance conditions, and no one will force him to draw on the credit insurance car. A benefit of this, I must say, significant: sometimes more profitable to go to the high interest rates on bank loans than on expensive insurance.

Another definite plus is that the ratio of the UK will be different than the compulsory insurance . For example, if an insured event, the next year, the insurance company will almost certainly significantly increase the insurance premium. If the car is purchased on credit with compulsory insurance, the car owner to go nowhere special. But if the car is purchased without conditions on it, the policyholder can not easily enter into a contract for next year. Knowing this, the insurance companies are much more liberal than those who bought a car without compulsory insurance.

What are the disadvantages are auto loans without insurance cars?
The main drawback of auto loan without the insurance requirements of the machine - the payments to the bank. Interest on the loan will be certainly higher than with comprehensive insurance, and if you do not count the savings and expenses, you can be a loser. Even if the interest rate is not very high, there may be some loan conditions or penalties which would negate all the benefits from the absence of insurance.

If the savings on insurance premiums amounted to no more than 1 ... 2% of the value of the car loan, it is best to buy insurance. Think about it: the difference in payments is not so great, but the car will be insured. It should be clear where to go for insurance payments: in the auto repair or to the bank to repay the debt. In practice, most often the second option, because the beneficiary is a bank.