Drivers urged to haggle when buying new cars
Published On 11 April 2007
People could be paying too much when they purchase a new motor using car finance deals because they are not prepared to haggle over the price.That's the opinion of Sainsbury's Bank, which has carried out research which indicates that the UK's reluctance to push for the best car deals could cost motorists £612 million in the next six months.
The company found that people could typically save £1,500 on the price of a brand new car by negotiating with the dealer.
Nearly half (45 per cent) of people planning to purchase a new car in the next six months said they would either not haggle at all on price, or only gently try to push for a better deal.
Sainsbury's Bank's research also highlighted the fact that people should shop around for the car finance they plan to use. With 16 per cent of people saying they planned to use a loan to pay for their car, the lender advised drivers to make sure they checked out what deals were available.
"Once you have decided which new car you want, you then need to be prepared to haggle over the price you pay," explained Steven Baillie, the loans manager at Sainsbury's Bank.
"If you are financing the purchase with a loan, you also need to make sure that you shop around to find the right option for you."
Recent figures show that the number of new cars registered in March was up 3.1 per cent compared to the same month in 2006. Overall, 449,287 units were sold in the month.
