More Brits Are Haggling For Their New Car
Published: 12 July 2010
By MoneyHighStreet Staff Leave a Comment
Updated: 12 July 2010
Brits are more prepared to haggle when buying their new car, Sainsbury’s Finance has found in new research.
According to the findings, 59% of Brits would be prepared to haggle very hard or hard, for their brand new car in the next six months. In the last study, conducted in September 2009, only 52% of respondents said that they were prepared to ask for a discount.
The tight financial constraints that many families are feeling at the moment is likely to be forcing people to bargain harder for large ticket items such as a new car. However the supermarket bank warns that many car buyers are still losing out as its findings reveal that collectively British motorists could save themselves an incredible £163 million over the next six months, if only they were prepared to haggle on the price of their new car.
This is particularly important if the buyer is looking to arrange a car finance loan for their purchase.
Depending on the car, discounts of up to 50% may be available if the buyer haggled sufficiently hard and effectively. However, whilst haggling the cost of a new car down by 50% is likely to be difficult, according to What Car? the average discount you should be aiming for on a brand new car is around £1,699.
Apparently 453,000 Brits are prepared to haggle only slightly and are paying too much for their new cars as a result.
Steven Baillie, Head of Sainsbury’s Loans comments that: “It is pleasing to see that more car buyers are prepared to haggle than previously – we have been encouraging people to haggle for years but it seems that these recessionary times have finally convinced many to try and get a better deal.”
“With the car scrappage scheme and lower VAT both things of the past, car buyers will need to find other ways to lower the cost of their purchases, haggling is really worth considering.”
Once the new car has been bought, hopefully at a discount, then the proud owner will also need to shop around for the best car insurance, which is also available at a discount with some brokers.
