Be wary of car finance salesmen warns Alliance and Leicester

Wed, 24 May 2006



"Be wary of car finance salesmen" warns Alliance and Leicester .

Those considering financing the purchase of a motor vehicle with a loan should take a moment to examine their options, says Clare Alvey of Alliance and Leicester .

By proceeding with a motor loan on the advice of a "persuasive salesman", it is easy to miss the key opportunity to shop around. Alvey warns that this is happening due to "a number of reasons", primarily free gifts and extras convincing the customer to buy without thinking. It appears that many consumers feel that they may get a better part-exchange price if they accept credit from the dealer.

Free gifts such as satellite navigation or metallic paint serve to close the deals, warns Alvey, with "almost one in ten [saying that] they were talked into taking out [the car finance] by a persuasive salesman". The current car finance market is saturated with options for the car buyer which should be examined before rushing into a purchase.
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