Research from Sainsbury's Bank shows that almost half of those planning to buy a new car in the next few months will overpay by an average of £1300 each because they are not prepared to haggle.
The study reveals that 377,000 people are planning to buy a brand new car between February and July this year and only 51 per cent of those will be prepared to haggle 'hard' or 'very hard' to make sure they are getting the best deal.
The remaining 49 per cent- with nearly one in three not prepared to negotiate a discount at all- will collectively overpay for their reticence to the tune of about £490 million.
"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," Valerie Wood, car purchase scheme manager at Sainsbury's Bank, comments.
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