Cutting 1% off your APR could pay for 7 months of fuel

• Consumer spending on car finance reached more than £36 million in 2018
• Drivers could fund thousands of miles worth of fuel by opting for APR rates just 1% lower
• Research reveals shopping around for your loan can result in significant savings
• Admiral car finance helps drivers find big savings with new APR comparison tool

Brits spent £36.9 million on car finance in 20181, but drivers could save hundreds of pounds by finding an APR just 1% lower.

Admiral Car Finance has launched a new APR comparison tool to highlight the dramatic financial benefits of shopping around for car finance, by revealing the difference an interest rate just 1% lower can make.

Input a loan value, loan term and interest rate into the tool and it calculates the potential saving of an equivalent loan that has an interest rate – or APR –just 1% lower. The results reveal how much extra fuel drivers could afford with the money saved.