Finance deals costing Britons dear

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Finance deals costing Britons dear

New research has found that despite Britons citing value for money as an important factor when choosing a car, only 40 per cent who need finance shop around to find the best deal.

And of those that do opt for finance, 17 per cent go for the pricey car showroom option, which sees charges of around 13.3 per cent APR.

Andy Bayes, Head of Personal Loans at Alliance & Leicester, said: "I urge anyone considering buying a car this autumn to look around for their car finance first, and base their decision on the rate being offered, not just the freebies and discounts on offer from the car showroom."

Many of those looking for finance go for car-showroom option as they see it as easy and convenient, while a tenth are talked into it by the salesman.

So those motorists looking to get a new '55' numberplate are being encouraged to consider all their options before embarking on an expensive car-finance route.

Related News : General finance

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Related News : Alliance & Leicester

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