Experts are warning consumers that if they need a loan, they will need to do some searching in order to get a cheap unsecured loan. It is all too easy to end up paying too much if a consumer does not do their homework and find the best cheap unsecured loan before signing the paperwork. By searching, it is estimated that consumers can save a tremendous amount of money by picking a cheap unsecured loan.
“Paying over the top for finance is one expense that can be easily avoided. Consumers should search for a competitive deal with best buy unsecured personal loans starting from just 7.4% typical APR, 2.77% lower than the average car dealer finance at 10.17% typical APR. This really is a case of ‘act in haste, repent at leisure’ as a loan from the dealer could cost the consumer as much as £1,000 extra in interest. Having the money available before choosing a new vehicle can also add to your bargaining power when on the forecourt - you may find you are able to drive down the cost of the car as you strike an immediate deal,” said Simeon Linstead, Head of Personal Finance at uSwitch.com.
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