Get a good loan deal as well as a great car
First Published - Monday, 14th August 2006
With 179,000 new cars sold this September expected to be bought with showroom finance, a price comparison website is reminding new car buyers that cheaper loans may be available on the internet.
According to uSwitch.com, shopping around for a low rate personal loan over traditional car finance could save motorists £1,171.80 over three years, a combined total of £210 million for all those driving away with a new car and registration come September 1st.
Nick White, head of personal finance at uSwitch.com said: "I can't deny that looking for a new car is far more exciting than searching for the best finance package. Dull as this part of the process may seem, a rushed decision or just taking the finance deal offered by the car dealer could turn out to be a long term financial burden.
"The average interest rate for car showroom finance deals is 11.3 per cent APR - more than double the best rates that are currently available on the personal loans market."
Next News Article:
Parents turn to personal loans to fund private education. 09.08.2006
