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ADVERTORIAL: Second hand cars - why it pays to drive a hard bargain
By bill
As the financial gloom continues into 2009, more and more of us are tightening our belts. We're ditching the gym for a jog in the park, eating at home instead of going out to restaurants and making do with last year's winter coat instead of rushing out to buy the latest funnel-necked, bracelet-sleeved variety.
The deepening recession is forcing us to think hard about what items to spend our cash on and, according to recent headlines, one luxury item we've decided we can do without is a new car.
The latest figures from the Sainsbury's Finance Car Buying Index, show the number of people planning to buy a new car is at its lowest in three years.*
Once thought of as a status symbol, driving around in a brand new motor may make you feel a bit of a show-off now that frugality is in fashion. But if you can deal with the neighbours suspecting you've robbed a bank, now is a great time to buy as slow car sales force salesmen to take much lower offers.
Unfortunately, to get your hands on one of these great deals you're going to have to do something that makes many of us squirm in embarrassment, and that's haggle.
While there may be a long tradition of haggling elsewhere in the world, it's less common in Britain. While this may be slowly changing, many of us would still rather volunteer for a painful dental procedure than negotiate over price.
But perhaps we'd all turn into hagglers if we knew how much we could be saving. According to a survey by Sainsbury's Bank, negotiating could save us around £1,500 on the price of a new car.
So if you're one of the 19% of British motorists in the market for a new car who plan to meekly accept the first price the salesman offers you**, take a look at our tips on how you could get your new car for less.
A question of timing:
Why are February and August great times to buy a new car? Salesmen may be more willing to give you a good price just before the introduction of new registration plates. Also, look out for manufacturers who are introducing a new model as you can sometimes pick up the old one for a song.
Do your research:
When it comes to negotiating, knowledge is power. Read all you can about the car you're interested in, then take a look at the What Car? Target Price New Car website to get an idea of the discount you can get on it. You can ask the salesman to match the price – or, if you're really brave, offer even less.
The haggle:
You may know the car you want, but don't go in there bright-eyed with excitement, brandishing a cheque book. Look too keen and the salesman will spot it a mile off. Make them think you're prepared to walk away from a deal.
On the other hand, don't be rude. Remember the old saying, “you catch more flies with honey”. Keep negotiations courteous and haggle with a smile on your face.
It's worth a try...
If the salesman won't budge on price, try to do a deal on additional features not included as standard, such as a better stereo or a sunroof.
In the market for a new car? Sainsbury's offer personal loans. For more information, and an instant personal loan decision visit www.sainsburysbank.co.uk.
* Analysis of Sainsbury's Bank Car Buying Index research findings since launch in 2003.
** Of the 1.45 million people planning to buy a brand new car between September and February 2009 some 270,000(1) (19%) say they do not plan to haggle at all over the price.
Sainsbury's offer a range of financial services including life insurance, dog & cat pet insurance, savings accounts, personal loans. Visit www.sainsburysbank.co.uk for quotes and more information.
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