Upon inception of your policy it is a typical requirement by the finance provider that your first instalment is taken at the first available date after the start of your policy. Direct debits are run on the 1st, 11th and 21st of each month. For example, if you policy incepts on 5th June your first instalment will be taken on the 11th of June. The reason for this is that the finance provider will not loan your premium monies until your first instalment has been taken successfully.
When will my first finance payment be taken from me?