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Cheap personal loans may well be a useful asset for prospective car owners trying to strike a favourable price in their attempt to purchase a car.

This was the advice given by Alliance & Leicester which reports that obtaining a cheap loan can be a effective bargaining tool for motorists looking for a brand new set of wheels. By having the cash ready in hand, which a loan allows you to do, it was pointed out that people might be able to haggle with care salesemen quickly and effectively as they are now able in a position to make an instant purchase and drive the automobile off the forecourt on the same day. This could also mean that not only do people negotiate a significant saving on the price of the car but the financial services firm said it may also assist to land ‘extras’ for their car such as cruise control, an mp3 player or extended warranty.

In fact, not only would a cheap car loan assist drivers to purchase the vehicle of their dreams, the additional financial assistance which is provided by borrowing in this way may also assist people to keep tabs on other constraints on their spending.

Mark Boyle, personal loans manager for Alliance & Leicester, commented: "Having the money to hand means motorists can concentrate on buying at the best price, without being enticed into taking out pricey vehicle dealer finance that can see them lumbered with double-digit interest rates. It might also swing things in the buyer’s favour when thrashing out a deal for part-exchanging an old motor. Getting finance arranged before going shopping for cars is essential if you want to hold the balance of power in negotiating a good deal."

He went on to assert that as a motor vehicle is probably one of the most expensive items they will purchase, it is good practice for buyers to carry out some "research before heading to the showroom and be prepared to haggle when you are there. It could save you hundreds of pounds or more". The personal loans manager additionally reminded that those on the lookout for a vehicle may well be possibly going to find themselves in "a battle of wills with the salesman", as the car salesman will be wanting to sell at the highest price, whilst it is necessary for the buyer "to side-step the patter and make sure they do not pay over the odds".

Additionally the financial services firm urged those looking for a brand new vehicle to make sure that they keep an eye open for any hidden costs - such as number plates, administrative costs and delivery charges - which they may have to meet. Taking the car for a test drive was also recommended to ensure that there are no problems with the car before signing on the dotted line.

Those wanting monetary help for financing a new car might want to consider getting some car finance allowing them to bargain with car salesmen on getting a great deal on their dream car. Additionally, in obtaining a cheap loans, buyers may find that they are left with easily affordable repayments to make. This could be particularly helpful for women after a recent Experian study showed that 40 per cent of females consider the initial spend required is a major consideration when buying a new vehicle.

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In the current economic climate, it is necessary for consumers to avoid placing unnecessary pressure finances.

This is the claim of the Post Office which recently released a report showing that consumers appear to be missing out on billions of pounds by placing money into savings schemes that under perform. And during this period of high food costs and inflation, in addition to reduced access to credit, it was claimed that it is more important than ever to choose attractive deals. Findings from the firm showed that by placing money into accounts that offer lower interest rates than the Bank of England's base rate, savers may well be missing out on about 8 billion pounds each year.

Overall, 30 per cent of consumers seem to be completely unaware as to the rate of interest their savings account attracts, with a further 39 per cent reporting to have no idea if their supplier has changed interest rates on such financial products over recent months. Meanwhile, consumers who live in the north-east were shown as having the least understanding about the rate of interest they receive on their account. Here, some 37 per cent claimed to not know what the amount of interest gained on their saving schemes was. On the other hand, a little more than a fifth (22 per cent) of people from the east Midlands were shown as being unaware of the interest provided on their savings account.

On top of saving money inefficiently, it is quite plausible that people discover that their financial situation in later life is not as strong as they once believed. This could well mean they struggle to meet spending demands such as loan repayments, the cost of house repairs or bills more expensive than previously thought they would be when they are older.

Richard Norman, director of savings at the Post Office, said: "It's time savers started to take care of their savings by choosing a home for them wisely - especially in the current economic downturn. There are hundreds of poor-paying accounts, so people need to avoid them. If you don't know what interest you are currently earning, contact your provider. If it is paying a low rate and you want it to earn more then move it. Although it might be tough to put money away at the moment, it is more important than ever to make sure your existing savings work as hard as they can for you."

He also said that those consumers looking to open up a new account should take the time to check the amount of interest they will generate on their savings and if they will be able to access their cash without penalty.

For those consumers who appear to be bothered about their capacity to put money away for the future, taking out a debt consolidation loan may be recommended. By choosing this kind of loan it is possible that borrowers will be able to merge numerous constraints on their spending into a single low cost monthly repayment. In turn this could leave them with more disposable income, money which could then be invested into a savings scheme.

In May research by Birmingham Midshires shown that 77 per cent of Britons saved some money over the preceding three months. The typical amount invested was shown to stand at 938 pounds, a rise from the 910 pounds noted it was in may 2007.

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Despite Britain’s six largest energy suppliers increasing the cost of their tariffs only a few months ago, consumers could be set to find themselves coming under further financial pressures, it has been suggested.

Pointing towards Centrica’s recently-released interim management statement, uSwitch claimed that two further rounds of price increases could be set to take place over the coming months. In its report Centrica pointed out wholesale gas and power costs have been rising due to a shortfall in imports from continental Europe and rising demand from countries in Asia for liquified natural gas. Record oil prices in Britain were also shown to have played a dominate role in the future of energy costs. As such, it asserted that month-ahead prices for power and gas currently stand at 100 and 92 per cent above respectively figures recorded during the same period of time in 2007.

Following on from increasing utility bill costs, it may be possible that Britons find themselves coming under more pressure when managing other constraints on their finances in areas such as credit and store cards, personal loans and mortgage repayments.

Despite the average energy bill already increasing by 15 per cent - or 136 pounds - so far this year, the price comparison site stated that a further rise of ten per cent (105 pounds) could be introduced by the end of the summer. Meanwhile, a price hike of 15 per cent was reported to be likely to take place in the early stages of next year.

Tim Wolfenden, head of home services for uSwitch, said: “If Centrica - the parent of British Gas, Britain’s biggest supplier - is feeling such acute pressure over pricing then it’s safe to say that others are feeling it too. Suppliers have been holding firm, but the cracks are beginning to show. It’s pretty clear that something has to give and that household energy prices are going to be shooting up again this year.

“Suppliers usually give consumers breathing space by introducing a couple of smaller price increases rather than hitting households in one fell swoop. The pressure they are under shouldn’t be enough to change this pattern, but it could be enough to force their hand sooner.”

If such increases take place Mr Wolfenden stated that the typical energy bill could rise to stand at 1,327 pounds. Such a figure, he reported, will result in utility costs surging by 46 per cent over the course of this year. He went on to assert that in a period of energy bills becoming evermore expensive, those people struggling with their money management could be set to look towards a fixed-rate deal due to the security which they offer.

For those consumers who are concerned about how they will organise their finances with the prospect of rising energy bills, taking out a debt consolidation loan might be recommended. By selecting this type of loan, borrowers may find that they are able to merge numerous constraints on their spending into a single low-cost monthly repayment.

In a recent study, the Motley Fool reported that those consumers who move into a new home will find themselves transferred on to an energy provider’s deemed tariff - a deal which is an average of 25 per cent more expensive the most competitive offers available. It was also reported that the average three-bedroom household has an average gas and electricity bill of 1,400 pounds.

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In the face of volatility in the financial markets and the continued impact of the credit crunch, it is important for motorists to take steps in reducing pressures on their spending.

Such is the claim of Which? where in its Money Saving Handbook guide it suggested that driving at slower speeds can result in significant savings for Britons. By going at 50 miles per hour instead of 70 miles per hour, it was pointed out that petrol expenses could be cut by 30 per cent. In addition, the consumer publication advised drivers to ensure they regularly check pressure levels within their tyres. Having tyres which are under-inflated was indicated as adding another eight per cent on to an annual fuel bill and resulting in uneven wear and “premature” car failure. This, it was stated, could lead to “extra expense” following on from higher repair bills.

Following on from higher than necessary motoring costs, it may be possible that consumers develop furthered difficulties in managing other demands on their spending. Such areas could well include bad credit loans, credit and store cards, utility bills and council tax repayments.

Meanwhile, switching off air-conditioning was put forward as another way in which costs may be cut. By keeping such a system on constantly, it was purported that up to ten per cent could be added on top of fuel expenses. In addition, changing gears at the right time was also recommended. By doing this efficiently - not driving a motor vehicle in too low or too high a gear - petrol bills could be reduced by a quarter. Furthermore, Which? reported that roof and bike racks should only be used when essential. By constantly having a fully-loaded rack, some 30 per cent could be added on top of petrol costs.

Tony Levene, author of Money Saving Handbook, a Which? essential guide, said: “There are some fixed costs involved in driving a car that you have to pay whether you drive 2,000 miles or 20,000 miles a year. But if you can reduce your fuel bill by a couple of pounds each journey by making a few simple changes to the way you drive or use your car, why not? With petrol costs rising and people feeling the pinch, those couple of pounds could make all the difference at the moment.”

For those people concerned about their capacity to manage their finances as 2008 progresses in the face of rising costs taking out a loan may be advisable. By doing so borrowers could find that they are able to meet various demands on their spending and make major purchases effectively. One such area in which a personal loan may be particularly recommended to be used is for buying a car, as it may see consumers be able to purchase the vehicle of their dreams quickly and effectively. The additional assistance from a loan, whether it is a personal loan or otherwise, could help drivers to purchase a comprehensive insurance policy. Last month, uSwitch reported that motorists should take their time when selecting their insurance as those who automatically choose the deal offered by their motor manufacturer would pay an extra 26 per cent compared to the most competitive deal on the market.

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