Why should I shop for my car based on a monthly price?

Why should I shop for my car based on a monthly price?

80% of people buy their new car using some form of finance such as car leasing, hire purchase or a car loan. Most often a car buyer shops around online or visits many dealers to find the best price for the vehicle and they then organise finance with that dealer.  However, this is certainly not the best way to buy with finance because the car buyer has not compared the monthly price that the dealer gave them with the monthly price available elsewhere. Simply converting the price of the vehicle in to a monthly price by adding interest is not what all dealers do.  Dealers might put hidden extras in to a monthly price and some might offer a deposit contribution making it even more difficult to understand.  Therefore, make sure that you always compare the monthly price that you get with another supplier but also look at the total amount that you pay across the finance period.

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