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Bartering buyers have upper hand

A secondhand car showroom08/11/12

By James Martini

Buyers managed to knock an average of £939 off the price of vehicles bought from dealers between July and September, according to new research.

The Auto Trader Owners Guide claimed three in five motorists successfully bartered with car dealers during the third quarter, with men possessing more skills than women when it came to haggling.

Male consumers managed to save themselves and average of £1,029 on the asking price of a car during the three-month period, while female buyers saved £706.

Tim Peake, group strategy director at Trader Media Group, said: "Dealers that simply use trade-plus pricing to determine the sell price, will result in their gross profit potential being severely compromised; you have to work back from what the consumer market is prepared to pay, and minus your costs/margins from this start point."

The Auto Trader Retail Price Index showed the average price of used cars grew by £254 in September, with asking prices up 2.9 per cent to £8,914 on the previous month.

The asking price rise was reflected in the first year-on-year increase since April, with asking prices climbing 2 per cent when compared to September last year.

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