11 April 2007
Motorists' failure to haggle on the forecourts could be costing them millions of pounds, new research from Sainsbury's Bank has found.
When it comes to financing a new car many people turn to a personal loan, but by not seeking out the most competitive deal car owners are losing out.
Challenging the asking price of a new vehicle is also important, as the study shows as much as £1,585 could be saved on a purchase.
And with around 16% of a new car being paid for through a personal loan, according to recent research conducted by TNS, the importance of finding the best deal should not be underestimated.
Steven Baillie, Loans Manager at Sainsbury's Bank, explained: "Once you have decided which new car you want, you then need to be prepared to haggle over the price you pay, and if you are financing the purchase with a loan, you also need to make sure that you shop around to find the right option for you."
The latest figures from the SMMT show that the number of new car registrations in March has increased by 3.1% year-on-year.
Sometimes a personal loan is a good choice, perhaps you want to consolidate your credit cards or buy a new car. Whatever your needs, let uSwitch.com help you find one to suit. We're impartial and comprehensive and won't charge you for using our service. Compare personal loans and apply online.
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