Cheeky fuckers

[Tom]

I bought a new car a few weeks ago, and got about 4 years finance on it. I refused the option for insurance cover on the repayments if I was ill/whatever, because if I can't work, I have my own insurance anyway (being self employed).

I received a direct debit form a few days ago, that I've just got around to filling in, and just as I was about to put it in an envelope and send it off, I realised that it wasn't the credit acceptance form for the car repayments, but one for the insurance repayments!

No letter of final offer, no last chances, it even displayed the total repayments for the car more prominently than the insurance payments!

What a bunch of wankers! I phoned them up and the guy confirmed it was a 'final offer'. I told him 'yeah nice try mate', he sounded a bit taken aback, and I hung up.

FUCKERS.

 

[throdgrain]

They try anything. The rewards involved in finance companys getting you to insure they're loss are amazing.
As well as the regular commision, which btw is as much as the commision for the actual finance, I get reward points for selling this stuff that add up to at least another grand a year in my pocket.
Last year I sold about 10 payment protection deals in a month, the finance company sent me a bottle of champagne in the post

 

[old.user4556]

Payment insurance is a license for a bank/finance company to print money, it's a total fucking scam but the incentives for customer service advisors to sell it are incredible (in some places). Using the customer fear to sell it makes me sick.

I just aquired a staff loan for my new car (which arrives in three weeks!) and even when I spoke to a colleague they gave me the third degree on why I wasn't interested in "payment protection". I said "I know it's a rip off, you know it's a rip off - I won't be taking it thanks" to which she said "perhaps you should discuss this with a financial adv...." ..... "i said NO thanks" ...... "ok sir".

Besides, it only pays your payments for up to twelve months - what fucking use is that on a 25 year mortgage? Ok, it might free up some funds whilst you look for another job, but for christ sakes it should last longer than 12 months considering how much it costs.

Total scam.

 

[dysfunction]

That is very sneaky indeed!!

I always refuse this type of "insurance". Its a complete waste of money.

 

[Alliandre]

That is very sneaky indeed!!

I always refuse this type of "insurance". Its a complete waste of money.

Unless you happen to go bust. This "insurance" is then used to insure that your insurance is kept on paying.

It can get ridiculous, and you should only need it if your job is insecure and your financing is dodgey, but I suppose it might come in handy one day