/24-7PressRelease/ - LONDON, UK, August 20, 2006 - As per the latest news reports, motorists in UK may waste as much as 210 million on high-cost loans in the coming autumn this year. The only way to avoid the situation is to look for a suitable loan before actually going to the car showroom.
According to the latest news reports, prospective car owners in UK could spend no less than 210 on the high-priced loan products in the near future.
Research has shown that by choosing a low rate personal loan, people could save more than a thousand pounds over a period of three years. This is a significant fact since the number of car buyers in UK has been increasing over the years. In 2005 alone, over 2.5 million cars were sold in UK.
One way to avoid falling into the debt trap laid by car dealer is to organize a loan much before visiting the car showroom. Planning the finance much ahead of the purchase will help he consumer save a lot on the interest rates.
The average interest rate on a car dealer's finance is more than 11 percent APR. This is more than double of the best interest rates charged by lenders in the personal loan market. Prospective car owners therefore should make a comparison of the rates offered by different online lenders and choose the best deal for themselves. This will save them from the clutches of greedy car showroom financers.
For additional information on the news, that is the subject of this release (or for a sample, copy or demo), contact Webmaster or visit http://www.apply-4-personal-loans.co.uk
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