Sainsbury's Bank finds people wasting thousands on cars

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Sainsbury's Bank finds people wasting thousands on cars

Sainsbury's Bank has warned that the average British Motorist could be throwing away more than £3,000 by not haggling with dealers when buying a new car.

British motorists are spending £490 million more than they need to by refusing to haggle over the price of their next car, Sainsbury's Bank has found.

Over the next six months 377,000 people plan to splash out on a brand new car - but are set to miss out on an average saving of £1,300 per person by not bargaining.

On top of this, another 267,000 consumers are only prepared to 'slightly' haggle, meaning they are also likely to pay too much for their new car.

“Haggling over the price of a new car can save you thousands of pounds but our research shows many people are reluctant to do this,” said Valerie Wood, car purchase scheme manager, Sainsbury's Bank.

She also revealed that while 51 per cent of those planning to buy a new car over the next six months say they will haggle "very hard" or "hard", almost one in three (29 per cent) do not intend to haggle at all.

Sainsbury's points out that by haggling consumers can save as much as £3,500 on the list price of a new car.

What Car?'s online Target Price system allows people looking for a new car to find out exactly how much they should be getting as a discount on that make and model, and promises that if a local dealer will not offer this level of discount they will find one that will.

Target Price uses a team of mystery shoppers to find out an achievable discount for every make and model on sale.

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