Financing a new
car opens up a lot of potential to pay over the odds, with less
competitive
car finance and
car insurance common in the
market . However, putting your time into researching the market
could make all the difference when it comes to actually purchasing
a
vehicle, experts say.
Repeated studies have reiterated that choosing the most competitive
low-rate unsecured
personal loan on the market could be £1000s cheaper than opting
for
dealer finance . Traditional dealer
finance could result in high monthly
repayment, industry experts claim.
Another reason why
arranging finance prior to purchase can
save
money is due to the bargaining power it could potentially give
to the consumer. With a
loan agreed in principle, getting a comparison with dealer
finance is easier, and with
cash in hand the buyer is in a powerful position.