uSwitch slams car dealer finance offers

Mike Naylor, personal finance at uSwitch.com said: Finding a competitive loan and having the money ready to buy the car immediately will not only ensure that people get cheaper finance but it also gives them more bargaining power to get the best purchase price. Just because a car dealer can offer you a good deal on a new car, it doesn t always mean that they will offer the best deal to finance it.

Toby Clark, senior finance analyst at Mintel, the consumer market research company, hit back at the claims, pointing out that late payments and a few defaults could put the cheapest personal loan rate out of the car buyer s reach.