I recently purchased a new vehicle in Florida not too long ago and I have a question regarding credit life insurance for a car loan.
First, is credit life insurance mandatory? I would imagine policies vary from bank to bank. But I already know my lesson on credit life insurance: Never buy credit life from a dealership.
Now on to the facts.
I financed my new car through my bank (and I did it at the bank (no financing at the dealership) by getting preapproved before I went shopping - that way, I know what I can spend and what payments can fit my budget). Today when I received my loan papers I noticed that my payment was a lot larger than what I expected.
So, I plugged in the numbers - amount financed, rate and number of months - into a loan amortization calculator I have on my computer. (I won't show you actual numbers as this is a public forum and the potential for being personally identified is risky). It turns out that my payment is much lower than the payment that is shown on my loan paperwork.
So, to make a long story short, I had credit life insurance sneaked into my new car loan without my consent which has sent my monthly payment higher than what I expected. I like my new car and I intend to keep it and make the payments on it of course but I do not want to be forced to have to end up selling it privately so soon.
Do I have any legal recourse as to the credit life insurance being sneaked into my car loan without my permission? Any response would be greatly appreciated.

