Reclaim Your Car Loan Insurance Costs
We specialise in helping clients retrieve money lost
through unsuitable insurance products, unfair lending
actions, and inflated superannuation charges. Here’s how
we make it simple for you:
✓ We carefully examine your information
✓ We submit all necessary claims for you
✓ You get the refund directly
✓ We submit all necessary claims for you
✓ You get the refund directly
Why Should You Think About Car Loan
Insurance?
Car loan insurance is designed to provide
extra security when you finance a vehicle.
It helps protect your loan repayments if
unexpected situations occur, such as
accidents, serious illness, or job loss.
This insurance offers peace of mind by
ensuring your loan remains covered when life
throws a curveball.
There are three main types of coverage
available:
- Death or Critical Illness Cover: This
pays off the remaining loan amount if
you pass away or are diagnosed with
major illnesses like cancer, stroke,
heart attack, or serious heart surgery.
- Disability Cover: If you become
permanently disabled after the policy’s
waiting period, this cover takes care of
your loan payments until you recover or
the policy term ends.
- Involuntary Unemployment Cover: If you
lose your job without any fault of your
own, this benefit begins after a waiting
period and covers your loan repayments
for up to 120 days or until you secure
new employment.
You can tailor your policy by combining
different options such as:
- Death & Critical Illness + Unemployment
+ Disability
- Unemployment + Disability
- Death & Critical Illness + Disability
- Disability only
- Death & Critical Illness only
At Refund Helper, we guide you through the
options to help choose the best insurance
coverage for your car loan, giving you
confidence and financial protection.
Why Should You Think About Car Loan Insurance?
Car loan insurance is designed to provide extra security when you finance a vehicle. It helps protect your loan repayments if unexpected situations occur, such as accidents, serious illness, or job loss. This insurance offers peace of mind by ensuring your loan remains covered when life throws a curveball.
There are three main types of coverage available:
- Death or Critical Illness Cover: This pays off the remaining loan amount if you pass away or are diagnosed with major illnesses like cancer, stroke, heart attack, or serious heart surgery.
- Disability Cover: If you become permanently disabled after the policy’s waiting period, this cover takes care of your loan payments until you recover or the policy term ends.
- Involuntary Unemployment Cover: If you lose your job without any fault of your own, this benefit begins after a waiting period and covers your loan repayments for up to 120 days or until you secure new employment.
You can tailor your policy by combining different options such as:
- Death & Critical Illness + Unemployment + Disability
- Unemployment + Disability
- Death & Critical Illness + Disability
- Disability only
- Death & Critical Illness only
At Refund Helper, we guide you through the options to help choose the best insurance coverage for your car loan, giving you confidence and financial protection.
Typical Cases of Mis-Sold Car Loan
Insurance
Refund Helper Pty Ltd has observed
common situations where customers are sold car loan insurance
under misleading or unfair conditions:
- Rushed Sales: Buyers are often
pressured to commit quickly,
without enough time to review
contract details or compare
other products.
- Undisclosed Dealer Commissions:
Many customers don’t realize
that dealers receive hidden
commissions from finance
providers linked to the loan.
- Incomplete Information: Sales
staff sometimes fail to clearly
explain important aspects such
as ownership terms, commission
structures, interest rates,
repair responsibilities,
contract length, final payoff
amounts, and types of agreements
available.
- Limited Financial Options:
Instead of being offered a
variety of financing solutions,
customers often see only a
narrow range of products, which
may not be the most suitable or
cost-effective.
- Unaffordable Payment Plans: Some
customers enter into agreements
with repayment schedules they
cannot realistically meet
throughout the contract period.
- Low Mileage Limits: Contracts
frequently include annual
mileage caps set too low (e.g.,
8,500 km), even when dealers are
aware the customer will likely
drive much more (e.g., 17,000
km), resulting in large excess
mileage charges.
- Excess Mileage Costs Not
Reflective of Actual Loss:
Charges for going over the
mileage limits often do not
fairly represent the reduction
in the car’s value.
- Contract Misunderstandings: Many
customers do not fully
comprehend the contract terms,
for example, inadvertently
moving from a three-year PCP to
a four-year PCP to benefit from
lower monthly payments but
unaware of the longer
commitment.
- Confusion Over Finance Types:
Some buyers mistakenly believe
they are selecting one type of
financing, such as Hire Purchase
(HP), but end up with PCP,
leaving them reluctant to
question or dispute the deal.
- Rushed Sales: Buyers are often pressured to commit quickly, without enough time to review contract details or compare other products.
- Undisclosed Dealer Commissions: Many customers don’t realize that dealers receive hidden commissions from finance providers linked to the loan.
- Incomplete Information: Sales staff sometimes fail to clearly explain important aspects such as ownership terms, commission structures, interest rates, repair responsibilities, contract length, final payoff amounts, and types of agreements available.
- Limited Financial Options: Instead of being offered a variety of financing solutions, customers often see only a narrow range of products, which may not be the most suitable or cost-effective.
- Unaffordable Payment Plans: Some customers enter into agreements with repayment schedules they cannot realistically meet throughout the contract period.
- Low Mileage Limits: Contracts frequently include annual mileage caps set too low (e.g., 8,500 km), even when dealers are aware the customer will likely drive much more (e.g., 17,000 km), resulting in large excess mileage charges.
- Excess Mileage Costs Not Reflective of Actual Loss: Charges for going over the mileage limits often do not fairly represent the reduction in the car’s value.
- Contract Misunderstandings: Many customers do not fully comprehend the contract terms, for example, inadvertently moving from a three-year PCP to a four-year PCP to benefit from lower monthly payments but unaware of the longer commitment.
- Confusion Over Finance Types: Some buyers mistakenly believe they are selecting one type of financing, such as Hire Purchase (HP), but end up with PCP, leaving them reluctant to question or dispute the deal.
- Mileage Allowance Confusion:
Customers might agree to low
mileage limits (e.g., 8,500 km)
while dealers know their actual
usage will be closer to 17,000
km, leading to excess fees that
can exceed $2,500.
- Unfair Excess Mileage Penalties:
The fees for extra kilometres
driven often don’t match the
real depreciation caused.
- Lack of Clarity: Contracts are
sometimes signed without
customers fully understanding
consequences, such as longer PCP
terms offered in exchange for
slightly lower monthly
repayments.
- Difficult Decision-Making: The
complexity and unclear
differences between financing
options can result in customers
accepting terms they didn’t
intend, often due to feeling
embarrassed or unsure about
questioning the dealer or
lender.
- Mileage Allowance Confusion: Customers might agree to low mileage limits (e.g., 8,500 km) while dealers know their actual usage will be closer to 17,000 km, leading to excess fees that can exceed $2,500.
- Unfair Excess Mileage Penalties: The fees for extra kilometres driven often don’t match the real depreciation caused.
- Lack of Clarity: Contracts are sometimes signed without customers fully understanding consequences, such as longer PCP terms offered in exchange for slightly lower monthly repayments.
- Difficult Decision-Making: The complexity and unclear differences between financing options can result in customers accepting terms they didn’t intend, often due to feeling embarrassed or unsure about questioning the dealer or lender.