No one is exempt in wanting to find a cheap car loan especially when their old banger needs replacing. Well for every motorist who has a dream of having a new car parked on the drive - there is help out there. How many people wait in anticipation for their winning combination of numbers to be drawn on the lottery so they can drive a fast Subaru Imprezza or an impressive red Ferrari?

Every day people go online to find a cheap car loan because of the simplicity of it all. You can now apply for credit or finance from your own home to buy the motor you so long to sit behind the wheel of. However, online finance companies that make promises of cheapest car loans - may not be who or what they portray. Promises are made to be broken especially from a loan shark - therefore resulting in the N missing from broken leaving you BROKE. When you decide to apply for a cheap car loan for a new or used vehicle - approach a reputable loaning establishment.

Many motorists duplicate each others mistakes on a car sales forecourt when buying a petrol or diesel motor because - whether it is a family saloon, soft top convertible roadster, or touring camper van - they sign an agreement before reading the small print, (bad move). Your car may be your livelihood i.e. transport back and too from work, so be careful when asked to sign on the dotted line by a dealer in the motor trade.

The AA states that over 50% of road users looking for a cheap car loan go to their bank manager. They also state that a quarter accept the first loan deal the showroom offers, 18.4 billion is loaned annually in personal loans. Calculation on average states the motorist spends £6,000 on a new or used motor only to queue up in a congested traffic jam of which is a danger to the environment, high emissions.(The mind boggles) Six grand is a large sum of money so be careful. Bear in mind when looking for a cheap car loan that the figures total up to a staggering £3.8 billion on wasted expensive loans. So the bargain you thought you had from the car lot - can leave you with major debts.

Huge savings can be made if common sense prevails. Think before rushing in at the deep end, especially if a car sales member of staff tries to strike up a deal with you on the spot. If you are lucky enough to be in a position where you are in no need of a cheap car loan and can afford to pay cash for a brand new four wheel drive Mitsubishi or the economical Nissan Micra, then better still because you are now in the drivers seat - so as to speak i.e. for bargaining: Money talks - so barter for a discount. Consider leaving a deposit using a credit card for the motor. This is a safety precaution which gives you extra legal protection for fear something goes wrong at a later date. Your binding contract with the credit card issuer means they are obligated to share responsibility to sort matters.

Motorists find it is easy to get finance organised for them through the help of their bank or building society. If the money you are looking to borrow is not a cheap car loan and is for a driveway, garage, haulage depot or to start up an MOT station then no need to worry because bank loans cover tasks as such. Lending rates differ, so do your maths. Personal loans i.e. 'unsecured' means - monies loaned is normally on the strength of credit worthiness where you will not be asked for a guarantee, (your home), as we see it "The shirt off your back". Good deals come from shopping around. Depending on credit history there will be clauses, higher interest charges etc. If you have a bad credit rating you can still apply for a cheap car loan. Through bad credit - drivers are tempted to borrow from loan sharks - bad move.

When using or applying for a credit card with appealing offers on introductory rates, be careful because, all good things come to an end just like those appealing introductory rates.