Plan ahead for car finance, buyers warned

Fri, 04 Apr 2008



Car finance news this morning reveals that consumers looking to finance the purchase of an 08 car should plan ahead for how they will afford it, and the affect buying it will have on their finances . Moneyfacts.co.uk say that choosing the right car loan should take up as much time as deciding on the make and model.

Surveys by the site indicate that the cost between the most expensive and the cheapest car finance loan could be as much as £3000, for a vehicle with an asking price of £15,000.

A spokeswoman for MoneyFacts was reported as commenting: "It may seem easier to opt for the forecourt finance that's offered at the garage, but checking out what's on offer on the rest of the market could see you making significant savings . Don't be swayed by incentive gimmicks such as free breakdown cover - usually these loans are much less competitive and the saving you make will more than pay for separate cover elsewhere."
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