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Need advice re credit agte

Guy Sajer · 2017-09-22 16:16:46

Could someone explain "first drawings" in relation to insurance please? I got and accepted a car insurance quote for €800. I just got a letter from the finance company that funded my quote. it says "the total amount payable under the agreement is €1,700..." .."total amount to pay in respect of first drawing of €528 is €575…

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22-09-2017 5:16pm

#1

Guy Sajer

Closed Accounts Posts: 167 ✭✭

Join Date: November 2016

Posts: 158

Could someone explain "first drawings" in relation to insurance please?

I got and accepted a car insurance quote for €800. I just got a letter from the finance company that funded my quote.

it says "the total amount payable under the agreement is €1,700..."

.."total amount to pay in respect of first drawing of €528 is €575 assuming you make all monthly payments on time (which adds up to €800)

Im confused as to whether my insurance is €800 as quoted or €1,700

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