The AA is now offering car buyers the chance to find out about a loan by text message.

AA Personal Finance is trialling the service at car sales outlets like auctions and car supermarkets, where low prices tempt buyers – but finance deals are less attractive.

Lloyd East, general manager, AA Personal Finance said: “Huge savings could be made by buying a car through the trade providing you know what you are looking for.”

But he added that: “savings could soon be lost if you finance your car with an instant loan or hire purchase arrangement from the dealer or lender at the site.”

With the AA’s new text system, you can check if their rates are cheaper than those offered at the retail outlet, and possibly save money on both the car and the loan.