UK car buyers haggle off up to £1,000 per sale

UK car buyers haggle off up to £1,000 per sale

A recent analysis of the current automotive market brings details that 60% of car buyers manage to pay under the asking price for a vehicle by haggling.

The poll, conducted by Auto Trader during July and September 2012, shows that seasoned hagglers manage to get their vehicles at an average of £939 less than the amount advertised. Data also shows that men are better at haggling than women, with men on average talking the price of a car down by £1,029, whilst women haggling for £706 on average.

Also revealed by the study are the reasons why motorists are choosing to sell their cars at less than their asking price. Over half of those surveyed (51%) said that they would rather choose the easiest way to sell their car rather than choose what option would give them the best price.

This does not spell disaster for car sellers however. On the whole, the survey showed that car prices are starting to rise again, with the average value of a used car rising to £8,711 over the 3 months studied.

Group Director of Auto Trader, Nathan Coe, commented: "Everyone knows buyers look at the state of the market before they purchase, but consumers have a lack of understanding about accurate pricing when it comes to selling. Sellers should do research through online valuation sites to prevent disappointment... While it is a good time to buy, the market is starting to turn, so buyers should not be complacent. Those who are willing to do their homework will usually get the best deals. It's advisable to research the price and specifications of cars online ahead of making a purchase so buyers are armed with the knowledge and confidence that enables them to make more informed decisions."

Additionally, Keith Lewis of the SMMT (Society of Motor Manufacturers and Traders) commented: "It's clearly a great time to be a car buyer - whether new or used - and this research shows the importance of really considering what you want from your new purchase, and how much you're prepared to pay for it."

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