03/11/2009 17:09:41

'British reserve' prevents getting a bargain deal, Sainsbury's reveals

A failure to haggle when purchasing cars will see Britons lose out on millions of pounds, new research indicates.

With some 1.14 million people set to buy a new vehicle between September 2009 and February 2010, Sainsbury's Finance reveals that some 121,000 are not planning on attempting to barter with car retailers.

And although 52 per cent state they are ready to haggle 'very hard' or 'hard', this represents a fall from the 67 per cent who claimed they would do this when questioned in February 2009.

By not haggling, the firm indicates Britons could unnecessarily spend a total of £229 million on the price of new cars.

"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," Steven Baillie, head of Sainsbury's Loans, points out.

He claims that in addition to getting a good deal on a new car, it is also crucial that those planning on using a loan to finance the purchase of a card should shop around for a competitive deal.

Meanwhile, recent figures from revealed the average price that a second-hand car available via online auction sold for fell over the course of last month.