FinanceAcar Launches World's First Car Finance Comparison Engine

LONDON, August 11, 2010 - UK car finance specialist, www.FinanceAcar.co.uk, announced today
that it has launched the world's first car finance comparison engine. It
fills an estimated GBP11.5 billion gap left by traditional comparison
websites in the UK, such as Moneysupermarket.com, that only compare car
finance prices based on car loans. A car loan is just one form of car
finance used by less than 1 in 5 car buyers in the UK and the size of the
comparison gap in the US and Europe is proportionately similar. FinanceAcar
solves this problem as it instantly compares all car finance options
(car loans, hire purchase and car leasing -
www.financeacar.co.uk/car-leasing) and empowers car shoppers with
information that has never been available in one place before by answering
the question: "What is the lowest monthly price I need to pay to drive the
car I want?"

According to the Finance and Leasing Association and Keynote, at least
80% of all car shoppers use car finance - www.FinanceAcar.co.uk - for
the average 2 million new vehicles acquired each year in the UK (market of
circa GBP19 billion/year) and, until now, most of it could not be compared.
FinanceAcar allows a user to select their preferred new vehicle by make and
model, by budget and/or by car type and then it tells them the cheapest
monthly price to finance that car. Importantly, it is not just a comparison
website but also an ecommerce website. A user can choose their car, select
their finance and insurance deals, complete a credit check and application
and have the car delivered to their front door.

Founder Mark Peatey, who launched itv.com and grew it to become one of
the UK's largest websites, says, "Our product fills a huge gap in a massive
market. There are many different and confusing products and until now there
has been no way for people to compare all monthly finance prices for each
individual car. We democratise car shopping by putting all the finance
options and their prices for any selected car in one place for the first
time."

Co-founder Nadim Saad added, "Our intention is to use FinanceAcar to
reinvent the way people shop for cars and thereby change car ownership. A BMW
1 series can be financed on a car lease -
www.financeacar.co.uk/car-leasing - for as little as GBP220/month and
after 3-4 years you can have a stress free new upgrade much the same way as
your mobile handset. The traditional alternative is to pay GBP600/month to
buy the car and keep it. However, because it is tough times and people can
drive a better car for less money per month, we believe that with full
product comparison a lot of people will trade up to a better car while
trading down from ownership."

Market Data Source - Finance and Leasing Association, Keynote

About FinanceAcar

FinanceAcar (www.financeacar.co.uk) is a UK car finance
specialist. Its new product was selected by Microsoft as its "startup of the
day" and it was recently voted by Seedcamp (one of Europe's largest groups of
tech investors) as one of the top 5 products (out of 200) presented to London
Seedcamp. Its product is the world's first comparison engine that compares
all car finance - www.FinanceAcar.co.uk - products for new cars (car
leasing - www.FinanceAcar.co.uk/car-leasing, hire purchase and car
loans - www.FinanceAcar.co.uk/finance) in one place making it
comprehensive in car finance compared to other comparison engines such as
Moneysupermarket that only compare car loans. The website compares finance
from top UK lenders for 6,000 vehicles and offers more than 1,000,000
different prices. The site now allows car shoppers to choose their car by
make or budget and within seconds it presents the best finance product and
best UK monthly price for that car based on the monthly cost of ownership.
Once the user obtains the best monthly price, they can get a full
personalised quote, obtain a credit check, apply for finance and have their
chosen car delivered to their door. FinanceAcar's team and partners combine
more than 30 years of UK car finance experience with more than 30 years of
blue chip media, internet and technology knowledge. They draw on experience
from launching one of the UK's largest websites (itv.com) and several
international businesses.

Media contact: Mark Peatey, Tel: +44(0)7-932-656-523, press at FinanceAcar.co.uk