Haggling takes hold

Time 13 years ago

39199lex.jpgDEALERS, beware. Customers are keener than ever to haggle.

A survey by Experian’s shows that over half of adults are more willing to haggle than they were a year ago.

And it is when buying a car than they are striking gold most often of all – nearly 40 per cent of buyers have secured a discount.

This is simply because people are feeling credit-crunched.

Kirk Fletcher, MD of Experian’s automotive division, said: ‘The rising costs of living and running a car means that consumers are driving a much harder bargain with dealers. Furthermore, it is no secret that the car market is experiencing challenging times, and dealers have been more willing to meet demands in order to secure deals.

“Over the last few years, consumers have spent more time on the internet, researching everything about a vehicle before even setting foot in the showroom. Consumers are more geared up than ever before to get a good deal.

‘By the time they enter a dealership, they already know how far they are willing to negotiate.’

It’s men you need to watch. They’re one and a half times more likely to barter. Particularly older men – 45-54 year olds were an amazing two and a half times more likely to get a better price than 18-24 year olds.

So what can be done? Be one step ahead of ‘em, says Fletcher. Use customer databases fully.

‘Keeping an eye on the market for changing trends is also key to spotting opportunities they can tap into. Knowing what is happening in the market, knowing which customers are likely to upgrade and which ones are downsizing. Which vehicles are increasing in sales compared to those that are losing their appeal?’

Use every analytical tool you can get your hands on, in other words. And watch the 50-something gent eyeing up your star model…

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Car Dealer has been covering the motor trade since 2008 as both a print and digital publication. In 2020 the title went fully digital and now provides daily motoring updates on this website for the car industry. A digital magazine is published once a month.

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