Purchasing a car can be a bright and shiny experience, signing up for the wrong finance deal can turn the experience into a dull lack lustre one very swiftly. It is for this reason that it is vital to do the necessary research into your finances and the options available to you prior to signing any agreement that could potentially cost you a lot more than the monthly payments.

Assuming that the salesman at the dealership or the advertised bank loan rate is the best financial option for your car’s finance without checking out the alternatives could mean you sign up for a lengthy agreement with an APR that is far from palatable. Take for instance Pentagon’s car finance for those with an unsavoury credit score, their supposedly generous offer of 19.9% APR doesn't look so pretty when you compare it to the high street bank’s APR for those borrowing under £20,000. The APR or sub-prime customers averages at around 12.5%.

The figures show such a vast range of APR’s which no doubt translates to a range of monthly payments as well as a huge difference in the total amount payable for your new shiny car.