/24-7PressRelease/ - LONDON, UK, September 06, 2007 - After home, the second largest purchase that most people make results in a car. But, what is most striking is that one-fifth of the car-hunters spend more than 20 hours flipping through car magazines and viewing cars before deciding on the make and model and just spending less than an hour - if any time at all - in researching how to pay for it.
Many drivers have to borrow to meet this cost. There are several means that can help you in funding the purchase. Personal loans, secured loans, dealer credit, hire purchase, etc., are some of the popular ways.
In hire purchase, the ownership doesn't pass on to you whereas personal loans allow you to become cash buyers - owning your vehicle from the outset. The market for personal loans remains competitive despite rise in the interest rates many a times in the past one year.
Colin Batabyal, underwriting director at Insurance firm esure said: "As a nation we're always out for a bargain and value for money, yet motorists aren't putting this into practice when it comes to buying a new car."
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