Drivers Advised To Get A Loan Before Buying A Car

A cheap personal loan may well be an effective tool for drivers bargaining on getting a favourable price when trying to get a new set of wheels.

Such is the assertion of Alliance & Leicester which states that getting a cheap loan can be a effective bargaining tool for motorists requiring a brand new set of wheels. By having the required cash ready in hand, it was suggested that people might be able to barter with care salesmen quickly and effectively as they are now able in a position to make an immediate purchase and drive home with the car that very day. This could also mean that not only do people negotiate a significant saving on the price of the car but the financial services company commented it might also help to land 'extras' for their vehicle such as an extended warranty, higher spec or other goodies.

Indeed, not only could getting a quick car loan help motorists in purchasing the vehicle of their dreams, the financial assistance which is provided by borrowing in this way could also help people to keep tabs on additional constraints on their spending.

Mark Boyle, personal loans manager for Alliance & Leicester, said: "Having the money to hand means motorists can concentrate on buying at the best price, without being enticed into driving out pricey vehicle dealer fund that can see them lumbered with double-digit interest rates. It might also swing things in the buyer's favour when thrashing out a deal for part-exchanging an old motor. Getting finance arranged before going shopping for cars is essential if you want to better placed when negotiating a good deal."

He went on to say that as a motor vehicle is usually one of the most expensive items they will purchase, it is a good idea for consumers to carry out some "research before heading to the showroom and be prepared to haggle when you are there. It could save you hundreds of pounds or more". The personal loans manager additionally reminded that those on the search for a car may well be likely to find themselves in "a battle of wills with the salesman", with the garage dealer said to be wanting to sell for the highest price possible, whilst it is important for a consumer "to side-step the patter and make sure they do not pay over the odds".

Furthermore the financial services firm advised those on the hunt for a brand new vehicle to make sure that they keep an eye open for any undisclosed expenses - such as number plates, administrative charges and delivery charges - which they may have to meet. Taking the car for a test drive was also recommended to ensure that there are no problems with the car before signing on the dotted line.

Those wanting monetary help for financing a new car might want to think about getting some car finance allowing them to bargain with car salesmen on getting a good price on their dream set of wheels. And in getting a cheap loan, buyers may find that they are left with repayments that are nice and easy to make. This might be particularly helpful for women after a recent Experian study identified that 40 per cent of females think that the initial spend needed is a major consideration when getting a new car.

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