Liberty has dropped the rate on its prime car loan product by 1%, specifically available to brokers.John Mohnacheff, group sales manager at Liberty, said that within six months of buying or refinancing a property, people will usually change or refinance their car as well.
"Brokers should encourage their customers to talk to them first about obtaining finance before they buy a car.
"The whole thing about cars is once you have decided to make a new purchase – the process happens pretty quickly. We recognise this at Liberty, so we've refined our application process and the wonderful thing is that within an hour of submitting the deal you could have the approval.
"Then it gives the customer a better bargaining chip knowing they have got the finance secured. They can say 'I'm prepared to pay cash here, what's the best price?'"
Liberty's offer runs until 31 August.