Drivers in Britain are set to squander a large collective amount of cash on new registration cars when they hit dealers next month, it has been claimed.

According to uSwitch.com, £175 million will be spent on ’57’ plates when they go on sale on September 1st 2007.

The company pointed to figures from last year to support its claim, as more than 400,000 vehicles fresh from manufacturers – a fifth of all new cars in 2006 – found owners during the corresponding month last year.

But those purchasing will have to factor in car insurance and road tax, as well as any added extras.

Mike Naylor, personal finance expert at the firm, commented that people should consider how they will pay for a new car before buying.

“The message couldn’t be simpler – don’t pay more for the finance on your new car than you have to,” he said.

Meanwhile, a report from the Guardian this week claimed that more people were buying cars because they were cheaper than ten years ago.

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