What will you do with your refund?

May be also known as Loan Protection, Mortgage Protection or Personal Loan/Credit Card Protection Insurance. This is insurance covers you if something happens to you that affects your ability to meet the payments of your loan or credit. Covering situations like death, unemployment and sickness. CCI in essence is not bad product, although many policies have been mis-sold to consumers by incorrectly applying a policy to a loan without your knowledge or without asking the correct upfront questions first, making these polices worthless.

May also be known as Motor Equity Insurance. This insurance policy helps cover the gap between the amount you owe on your car loan and the payout amount from your motor insurance company, in the event the car is written off in an accident or stolen. Many Gap Policies were not only sold without consumers knowledge but also over sold too! Insuring above and beyond what you actually need to cover the cost of the gap, but still charging you for the higher premium. This amount as with any extra add on, will attract interest to your loan, possibly adding $1000s!

If you have a loan that you have missed payments or you're struggling to repay there might be a chance your lender failed to completely assess whether the loan was suitable for you at the time of application.
Irresponsible lending is, if the Financial institute lends money to a borrower and the borrower is clearly unable to meet their financial obligations due to an inaccurate affordability check.
Lenders must adhere to responsible lending guidelines by checking if the applicant can repay the debt on time without falling behind or defaulting on their existing commitments.

These ‘Warranties’ are usually sold alongside your used car purchase. Although they are not to be mistaken for a New Car Warranty which the manufacture supply. They often come with a range of exclusions and conditions most people would be unaware of, these range from no cover for pre-existing issues to extensive service requirements or only cover a certain few parts! Not to mention Discretionary warnings which could void your cover, Totally worthless. If this was added on to the loan without your consent or you were pressured to buy this, you could have been mis-sold.

Meets the cost of repairing or replacing a vehicle’s tyres and rims if they are punctured or suffer a blowout.