/24-7PressRelease/ - LONDON, UK, August 19, 2006 - A research from an independent comparison and switching website revealed that people can benefit themselves by opting for a low rate personal loan over a traditional car finance package. Overall, the move could save motorists as much as 1,171.80 over a three-year period.
Personal car loans can be unsecured loans or secured loans and depending upon the individual circumstances, the car loan borrowers may choose their pick.
The website further substantiated the significance of its research by projecting that more than 179,000 new cars were likely to be purchased on car showroom finance this September only. The figures show that around 2.5 million cars were sold in the UK in 2005 with over 415,000 in the month of September alone.
Considering the projected figures, the advice given by website gains all the more importance.
Nick White, head of personal finance at the switching website said that a rushed decision or just taking the finance deal offered by the car dealer could turn out to be long term financial burden. White cautioned that the average interest rate for car showroom finance deals was 11.3% APR - more than double the best rates that were currently available on the personal loans market
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.loans11.co.uk
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