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uSwitch attacks dealer finance

18-8-2006
The rates charged by dealers for finance deals have been attacked by the independent comparison website uSwitch.
According to its research motorists opting to use dealer finance can end up paying as much as £3,000 more than taking on a loan. It claimed that the average interest rate charged for customers taking on showroom finance packages were over 11 per cent APR, which is more than double that of some cheaper personal loans. uSwitch said with around 180,000 new cars set to be purchased on dealer finance programmes in September, UK drivers could pay an extra £210m.