17 October 2005
Car buyers are losing millions of pounds each year by failing to shop around and haggle for the best deal, a new survey suggests.
Research into consumers' plans to purchase cars between October 2005 and March 2006 found that 278,000 people plan to buy a brand new car over the six month period, but have no intention of haggling over the price they pay.
According to Sainsbury's Bank, Brits could save around £1,500 each if they negotiate the price of their brand new car, rather than accepting the price they are given. The new figures indicate that new car buyers could overpay during the half-year period by a whopping £417 million and an estimated 453,000 more people prepared to haggle only 'slightly' over price also risk overpaying.
Just over half (51 per cent) of people planning to buy a new car between February and July 2005 said they intended to haggle 'very hard' or 'hard' over the price they paid, while 66 per cent planned to haggle 'very hard' or 'hard' over price between October 2005 and March 2006.
Valerie Wood, car purchase scheme manager at Sainsbury's Bank, said: "Haggling over the price of a new car can save you thousands of pounds so it is very much in your interest to do this. Before buying a car, motorists should have a good idea of what they want to pay and what their limits are."
Car buyers are advised to consult the What Car? Target Price, which gives details of achievable discounts for every car make and model on sale, or use a car purchase scheme to secure the best available price.
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