P - Payment protection insurance

Monday, June 05, 2006

Payment protection insurance - If your circumstances change because of ill health or unemployment and you can't make that car loan repayment, payment protection insurance can come to the rescue by making the payments while you can't.

Be careful to read any policy through carefully. Usually you need to have been unemployed or unfit for a full month before the cover kicks in, and don't expect payments to be met if you resign or take voluntary redundancy.


Glossary

Want to know the difference between your APRs and your PCPs? Our Glossary will guide you through the minefield of car-buying terms.