Hard-up Brits 'more willing to haggle'

03/09/2008

Some Britons are using the credit crunch to develop a new skill - haggling over prices.

According to CreditExpert.co.uk, 57 per cent of UK adults now feel more willing to negotiate a discount on goods and services than did so a year before, prior to the onset of the credit crunch.

When asked the most likely places they would barter, 47 per cent identified retailers and 16 per cent said that they would haggle on a loan or financial product.

Jim Hodgkins, managing director of CreditExpert.co.uk, commented: "The credit crunch appears to be having a significant effect on our haggling behaviour and as our wallets feel the pinch, we are less willing to settle for the advertised price.

"As many people don't understand financial products in the same way they do consumer goods, they lack the confidence and know-how to be able to get a better deal."

He added: "Reviewing and understanding your credit status can put you in a stronger position as lenders will sometimes give the top rates and deals to those with the best credit ratings."

Tags; Budgeting Advice, Young Family Finances, Credit Card Lifestyle,

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