Many people have been hearing about auto insurance with no down payment lately. It seems that companies and agencies have been running ad campaigns that promote these types of programs. Some may think that it is a gimmick but the truth is you can get zero down on your policy, but first you have to learn a few things about what is required for you to attain this type of plan.
What It Actually Means To Get Auto Insurance With No Down Payment
In the quest for low cost car insurance many come across ads or hear commercials that state things like “zero down” and “no down payment”. Can you really get a policy without putting and money down? Many people have pondered this and have hesitated to call or go into that office that is making such claims because they do not want to be a part of a bait and switch type operation. To truly understand this enticing concept you have to understand what it actually means to get coverage with nothing down. In California for instance (many companies here advertise this program) brokers are allowed to charge broker fees when selling policies through certain companies. So most of the time this will mean that they are waving the broker fee or “down payment” as they like to call it. Which in turn means that you still have to pay the first months payment to get started. So lets say your monthly payment is $50 you would only have to pay the first months payment of $50 to get started instead of paying $50 plus what ever they were going to charge you in fees. So it is OK to respond to these advertisements just be sure to let the agent you speak to know that you are interested in this type of payment plan and that you want to know all of the details and requirements.
How To Get Car Insurance With No Down Payment
Now that you have an idea of what it is, you will need to know how you can get auto insurance with no down payment. Some agencies and brokerages will have a disclaimer at the end of their commercial or print advertisement that will say things like “certain restrictions apply” or “must meet program requirements”. It is up to you to find out what these requirements and restrictions are to make sure you qualify. Ask the broker or agent what they are and if he or she does not know ask to speak to a manager. They will usually clarify all that is necessary to get signed up on the payment plan. If they can not provide a clear answer it is best to move on to other companies because chances are that they are running a gimmick. Do not be discouraged because there are plenty of companies out there really do offer zero down. Often they will require that you have a clean driving record which means not having any moving violations or at fault accidents in the last 3 years or major violations such as DUI or reckless driving in the past 10 years. Sometimes to qualify they will want you to sign up for EFT (electronic funds transfer) payments. This means that you would have to have your monthly payments or even your first months payment automatically deducted from your checking account or credit card. The way the carriers see it is that you will likely keep your policy for a longer period of time because you do not have to worry about sending in your premium every month and in return they will offer you to get started for the minimal amount of just the first month.
Where To Get Quotes For Auto Insurance With No Down Payment
2autoinsurance.com has several programs available to get your car insurance with zero down payment. To get free quotes you will need to enter your zip code at the top of the page. Select whether or not you are currently insured and click the “go” button. You will then be prompted to complete a short form that will ask questions about your driving experience, type of vehicle you drive and the coverage that you are looking for. When you view your estimates you will have to pay attention to the rates and payment plans. Many of them will be available to start up with just the first month. If you have trouble locating a no down payment plan you can call one of our licensed agents to get help with finding the most affordable policy.
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