Brits are better barterers thanks to the recession

car prices
Brits are becoming better barterers thanks to the recession.

A new report from Auto Trader has found British motorists, on average, barter £939 off the price of a car. Three-in-five motorists are paying under the asking price for a new or used car in the past quarter (July-September).

The report reveals that men are better negotiators when it comes to price, on average saving £300 more than women. The average saving made by male motorists was £1,029 compared to female drivers £706.

Auto Trader believes part of the problem is sellers misjudging the state of the market before pricing their vehicle.

Nathan Coe, group director of Auto Trader, said: "With so many sellers getting less than they were expecting for their cars, it raises the question of whether this is people not valuing their cars appropriately or whether it's buyers taking advantage of a weak market.

"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."