Shop around and save €2,500 on a new car

CAR buyers can save over €2,500 if they shop around for the best finance deal when purchasing a new motor vehicle, according to the Financial Regulator.

Finance experts also found that car buyers who opt for hire-purchase loans can pay more in payment protection insurance than they do in interest alone.

The regulator compared hire-purchase deals offered by 10 banks and discovered consumers faced a raft of complex deals that can add up to €9,500 to the forecourt price of a car.