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Brits 'not researching loan options for car purchase'
Nearly one in two drivers do not research the different types of finance available to them when looking for a new car, according to research.
The study by esure revealed that 47 per cent of motorists do not consider the best deals available to them in terms of personal loan APRs and credit card rates.
It also found that 42 per cent of Brits have admitted to not doing any homework before buying a car, with one in ten claiming they would just take out a financial package offered by a dealership.
Mike Pickard, head of risk and underwriting at esure car insurance, said: "Savings are there to be had by driving a hard bargain on the forecourt.
"Shopping around is also key so whether it's the insurance cover, finance package or the price tag of a new set of wheels, motorists should spend a little extra time doing their homework beforehand to make sure they get a good deal."
Johnny Simms of financial advice website LoanSafe recently claimed consumers could use personal loans to build up their credit score.