Car finance deals confuse drivers

Thu, 21 Feb 2008



According to a new report, the variety of car finance deals on the market are confusing consumers, who don’t do enough research into financing their car to get the best deal possible on vehicle finance .

A report by insurance company eSure indicates that just 65 per cent of consumers would negotiate to purchase a new vehicle, whilst 2.3 million drivers wouldn’t bother to check on the current market value of their existing vehicle when thinking about making a part exchange .

Furthermore, the insurance company found that 30 per cent of motorists would spend under an hour choosing how to pay for their new vehicle. The head of risk and underwriting at eSure, Mike Pritchard, reportedly commented: "We're known for being a nation of bargain hunters and are always out to get the best deal - but when it comes to buying a new car so many motorists are failing to put the theory into practice."

He reportedly continued: "It's crucial for all motorists looking to buy a new 08 plate to do their homework, shop around for the best deals and be both confident and clued up in front of a salesperson - or else pay the price."
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

 

Advice section: Pros & Cons | Finance Tips | Running Costs | Payment Options
newsnews rss
Car Finance news
Car company will develop model - Fri, 16 May 2008
Car dealers escape huge VAT bill - Thu, 15 May 2008
FSA final warning for car finance company - Wed, 14 May 2008
More News
Car finance partners
Car Loans