Oct 28 2007, 10:38 AM
QUOTE(lunacy @ Oct 28 2007, 01:35 AM)
anyone here know when u buy a new car , u wish to have 0 donwpayment , SA actually willl markup the car price , which is higher price. Just to cover the price of your buying car . But , at the same time , you also need to pay innsurance premium for the markup price ?
For example , u buying a 37 k car . they markup the price to 40 k . The premium u paid is actually refer to 40k price , which in turn paying more premium. Is that true ? Anyone know about this ? Correct me if i am wrong
Not necessary, it depends on the financier. Most hav their own insurance panel and u r required to buy from them for the 1st year. The insured amount should be at least equal to the loan amount.For example , u buying a 37 k car . they markup the price to 40 k . The premium u paid is actually refer to 40k price , which in turn paying more premium. Is that true ? Anyone know about this ? Correct me if i am wrong
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