Protect yourself when you pay out for a posh car (5)
I believe the answer is:
parry
'protect yourself when you pay' is the definition.
I can't judge whether this definition defines the answer.
'out for a posh car' is the wordplay.
'out' means one lot of letters goes inside another.
'for a' becomes 'pay' (I can't explain this - if you can you should give a lot more credence to this answer).
'posh car' becomes 'rr' (short for Rolls Royce).
'pay' going around 'rr' is 'PARRY'.
Can you help me to learn more?
(Other definitions for parry that I've seen before include "Duck" , "Ward off - English composer, d. 1918" , "Block - deflect" , "Block or counterpunch" , "Jerusalem's composer" .)