Brits haggle "hard"

Are we turning into a nation of hagglers? According to new research analysis from Sainsbury’s Bank Loans, more people are haggling over the cost of cars. The findings reveal that 65.3% of those people looking to buy a car in the next six months from September of this year will haggle "hard", compared to just 56.7% of those planning to do so during the same period five years ago.
 
The figures, from analysis of Sainsbury’s Bank’s Car Buying Index which has been running for over a decade, reveal that 94.9% of people looking to buy a car in this six month period will haggle.  Five years ago, this figure was 86.6% with far greater numbers of car buyers unprepared to haggle.
 
Sainsbury’s Bank is encouraging anyone planning to buy a car to haggle. With car showrooms trying to ensure they make monthly sales quotas, there may be some room for negotiation, especially in the quieter winter months.
 
The research shows that men are most prepared to haggle, with over two thirds of them (69%) prepared to haggle hard, compared to just 57% of women.
 
Simon Ranson, Head of Banking at Sainsbury’s Bank commented: “It's encouraging that Britons appear to have become increasingly prepared to haggle over the past five years, but it’s not just on the forecourt where they can get a good deal through a little bit of negotiation. Shoppers in the market for other large items such as kitchens, windows and even furniture could be surprised at how much money they could save themselves by haggling.”

Sainsbury’s Bank Loans provides some haggling tips:

Look for items that are already discounted, this could mean the retailer might have more pricing flexibility

Know the market – research offers available in different outlets

Keep your excitement in check and don't look too keen - make them think that you are prepared to walk away

Get a price from an online seller and ask a high street store to match it – they often will

Go at a time when the forecourt or store is less busy
 
As well as haggling over the price of the vehicle, it also pays to shop around for a competitive loan rate.  Sainsbury’s Bank is encouraging those thinking about using a loan to shop around as rates can vary significantly, and to consider their repayment timescales as this can have an impact on the total amount they repay.
 
For further information on Sainsbury's Bank Loans, log onto sainsburysbank.co.uk/loans.