Motorists urged to 'haggle' over new car purchases
Now is a good time to buy a new car, Sainsbury's Finance advises.
British motorists have been urged to shop around for the best available new car finance packages as part of a strategy to reduce the cost of their purchases.According to Sainsbury's Finance, car buyers are heavily favoured in the present market, although the company warned that they will only secure the best deals if they put in some leg-work.
Most importantly, buyers are advised to haggle before they commit to a purchase as the reluctance of Britons to negotiate over price is costing them millions of pounds every year.
Research conducted by the new car finance provider shows that, of the 1.14 million people planning to buy a new car in the next six months, 121,000 do not plan to haggle at all.
This represents 11 per cent of car buyers, with a further 37 per cent saying they are only willing to "haggle slightly".
Meanwhile, the number of people willing to haggle hard over their car purchase has fallen in recent months, with 44 per cent of those polled in August saying they were ready to negotiate aggressively with a dealer, compared with the 36 per cent who answered similarly in the most recent poll.
"The car industry is still going through a difficult period, [and] from the buyer's point of view this means that now is a good time to negotiate a significant discount on the price of a new vehicle," commented Steven Baillie, head of Sainsbury's Loans.
"Our research suggests that with stereotypical British reserve, many of us don't haggle hard despite the big savings that can be made, so we'd urge car buyers to give it a go."
Mr Baille added that further savings are possible on new car finance through the seeking out of the best cheap loans.
Meanwhile, an impact can also be made in the used car finance market in light of research form autoquake.com which shows second hand vehicle prices are also falling.
Written by Barbara Wintergreen
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