The car finance and personal loans for car finance industry is extremely competitive. The difference between the best deal and the worst can mean thousands of pounds over the life of a loan .

The new ‘57’ number plates, to be unveiled on September 1st, is set to provoke a flurry of new and used car transactions, buying and selling. Consumers in the UK are apparently going to ‘waste’ £175 million on non-competitive car finance deals, most of it from dealership.

The consumer website uSwitch-com revealed the news. In September 2006, the site found, 400,000 new cars were bought. A personal finance expert at uSwitch, Mike Naylor, reportedly commented: Finance deals offered by car dealerships can be expensive, and unwitting motorists could end up paying as much as £1,131 extra for their dream car. Just because a car dealer can offer you the best deal on a new car, it doesn't mean that they will offer you the best deal to finance it.