Britons turn to haggling ‘to make money stretch’

Britons are increasingly willing to haggle over the price of items as they seek to get the best deal. 

As the cost of living increases, while wages show no sign of keeping up with inflation, consumers are recognising the need to get value for money with any major purchase.

Research by Sainsbury's Bank Loans has discovered that over the course of the next six months, 65.3 per cent of Britons planning to buy a car are going to 'haggle hard' in order to reduce costs, while 29.6 per cent will have a go and 5.1 per cent will not bother. 

When these figures are compared with five years ago, it is clear people are becoming increasingly comfortable with haggling, as 13.4 per cent of respondents in 2008 had no intention of asking for a discount. 

Simon Ranson, head of banking at Sainsbury's Bank, stated: "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."

If individuals do seek out a price reduction on any major purchases, it can be a very effective way of avoiding debt, as their disposable income will stretch much further in the long run. In terms of gender differences, men are more prepared to haggle – 69 per cent compared to only 57 per cent of their female counterparts. 

Some top tips offered by Sainsbury's include trying to haggle when it is not very busy, going after items that are already discounted – this demonstrates there is price flexibility – and knowing the market.

By James Francis