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Car loans customers advised 'spend more to save'

Drivers looking to spend their car finance wisely have been advised not to cut back on the extras.

Drivers looking to spend their car finance wisely have been advised not to cut back on the extras.

In an article for the Sunday Times, motoring expert and Top Gear presenter Jeremy Clarkson states that although it may be hard to opt for all the extras that come with a vehicle, it could save money in the long-term.

Having noticed the effects of depreciation on Top Gear co-presenter James May's Porsche Boxster, Mr Clarkson states that in particular, more expensive vehicles are harder to sell later if the buyer has been stingy with the extras.

"When buying an expensive new car, accept, like a man, that it will plummet in value … Accept, too, that unless you spec it up with every conceivable extra there will be nothing to cushion the fall," he states.

He adds that steering clear of "bonkers colour combinations" will also protect car finance customers from unwittingly causing the faster depreciation of their new car.

Earlier this year, Parker's Car Guide listed BMW's Mini as the lowest-depreciating car on the UK market.

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