By Jennifer Hill

LONDON (Reuters) - The new "57" registration plate is with us and showrooms are buzzing with new car hunters.

But while they may have thought carefully about make and model, they could pay through the nose if they haven't done their financial homework as well.

While a fifth of car-hunters spend more than 20 hours flicking through car magazines and viewing cars before choosing a make and model, a quarter would spend less than an hour -- if any time at all -- researching how to pay for it, according to research by insurer esure.

More than 40 percent of 1,000 people surveyed say they would not find out a car's insurance group before signing on the dotted line and 35 percent would not think to get an insurance quote to gauge the cost and whether they are insurable.

Meanwhile, 11 percent say they would not haggle over the actual purchase price.

Colin Batabyal, underwriting director at esure, says: "As a nation we're always out for a bargain and value for money, yet motorists aren't putting this into practice when it comes to buying a new car.

"Being shrewd and shopping around for the best price, finance and insurance deals could slash hundreds, if not thousands, off the cost of driving away in a new '57' plate."

Buying a car remains the second largest purchase most people will make -- behind a house -- and most drivers have to borrow to meet the cost.