Despite the dire state of the car market and the opportunity to get serious car finance and new car bargains, many people are still not looking to haggle on the price of new cars in the next six months.

Research by Sainsbury’s Finance indicates that car buyers will still overpay by the massive amount of £200 million, simply due to not haggling on price. Sainsbury’s have pointed out that discounts of up to 50 per cent are available on list prices. The research found that very few car buyers would be prepared to haggle hard over price.

The Head of Sainsbury’s Loans, Steven Bailie, reportedly commented: The car industry is facing a very difficult time, with sales of new cars in February for example down 22% on a year ago. This means that now is one of the best times ever to negotiate a significant discount on the price of a new vehicle . It's a real shame some people still don't feel confident in doing so. We'd urge the 17,000 would-be purchasers that are undecided as to whether they'll try to negotiate a discount to give it a go. As well as obtaining a good deal on the price you pay for your car, it's also important that if you are planning to use a loan to help finance this, that you make sure you shop around for a competitive rate.