New Deal Check Set to Save Motorists Thousands

MANCHESTER, January 12 -- The Co-operative Bank and What Car today (12 January 2006) officially launched Deal Check, a free valuation service that could save motorists thousands of pounds every time they change their car.

The unique Deal Check, which is available online or via the telephone, not only tells would-be car buyers the target price of the vehicle they wish to purchase but also how much they should expect to get for their trade-in. Deal check then calculates the all-important balance between the two so the car buyer knows exactly what it should cost to replace their motor.

Deal Check is driven by the What Car database which holds the target price on hundreds of makes and models of new cars and the trade-in price of just about every used car in the UK.

All buyers need to do is log on to www.whatcar.com/dealcheck or call 08000-939-639 armed with the details of their existing car and the model they are thinking of buying.

The site is sponsored by The Co-operative Bank, which, for each car loan taken out, makes a donation to the environmental organisation Climate Care to help tackle global warming, and has links to its sister organisation Co-operative Insurance Society (CIS), one of the UK's leading motor insurers.

David Newman Director of Marketing Management for The Co-operative Bank and Co-operative Insurance said: "Many people use What Car to find out the guide price for their new car but they ignore the other side of the equation - what they should receive for their trade in.

"Deal Check covers both vehicles and so buyers will be well placed to get the best price because they will know exactly how much it should cost to change cars. We all know that car prices are loaded but without the relevant price information it is very difficult for the motorist to negotiate the best possible deal."

Robert Frumkin, Publishing Manager of What Car said: "We are delighted that The Co-operative Bank and its sister organisation Co-operative Insurance Society are sponsoring Deal Check.

"We know that it is important that sponsorships deals of this kind work for our corporate partners but we are confident that the readers of What Car who are in the market for both car loans and motor insurance will make full use of this important service."

Car buyers can borrow between GBP2,000 and GBP25,000, from The Co-operative Bank with a rate of 6.9 per cent APR typical. Loans can be repaid over one to seven years. The Co-operative Bank's famous ethical policy also gives customers the peace of mind of knowing exactly who the Bank does and does not do business with, as well as reducing the environmental damage caused by cars through the free Climate Care donation.

Note to Editors

Loan applicants must be UK residents, aged between 23 and 69, have a minimum annual income of GBP10,000 and either be a homeowner or hold a debit, cheque guarantee, store or credit card. Credit facilities provided by The Co-operative Bank p.l.c. (Registered No. 990937), or P.O.Box 101, 1 Balloon Street, Manchester, M60 4EP are subject to status. The Bank reserves the right to decline any application or offer a loan at a rate that differs from those advertised. Interest rates are correct at time of going to press 01/06. Calls may be monitored or recorded for security and training purposes. The Co-operative Bank is authorised and regulated by the Financial Services Authority (No 121885), subscribes to the Banking Code, is a member of the Financial Ombudsman Service and is licensed by the Office of FairTrading (No.006110).

For further information contact: Dave Smith, Co-operative Financial Services Press Office, Tel: +44-(0)161-829-5397, Fax: +44-(0)161-829-4590, e-mail: david.smith@cfs.co.uk