Car buyers 'miss out on £1,500 through failure to haggle'

24/09/2008

Britain's motorists are paying much more than they need to for their car - due to their failure to haggle.

According to Sainsbury's Bank, 19 per cent of people planning to buy a new motor between now and next February will not negotiate at all with the dealer on price.

However, the financial firm also said today that an average of £1,468 can be saved on the price of each car through haggling.

Apart from property, purchasing a new car is the biggest one-off payment faced by consumers.

Many take out regular-repayment loans to cover the cost - often at high rates of interest.

Therefore, saving money off the initial price can save even more for people who don't buy the car with a single payment.

Steven Baillie at Sainsbury's said: "In the current economic climate and the fact that fewer people are looking to buy new cars, this is one of the best times to haggle over the price you pay."

Sainsbury's also found that 60 per cent of people plan either to haggle "very hard" or "hard" when they buy their car over the months to come.

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

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