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People ‘have less money to spend’
Monday, June 1st, 2009New second-hand car buying figures demonstrate that people have less money to spend now than they did at the end of 2008 and start of 2009, according to Sainsbury’s Finance.
The company, which carried out the research, found that the number of consumers looking to purchase second-hand vehicles in the six months up to August is down 12 per cent on the September to February period.
In addition, the amount people are willing to spend has fallen, with a 21 per cent decline compared to the previous half’s figures.
Head of Sainsbury’s Loans Steven Baillie advised consumers to negotiate when buying second hand in order to get the best deal.
"It’s important buyers remember to haggle when negotiating any car purchase, as haggling can save the buyer hundreds or evens thousands of pounds," he remarked.
In April, uSwitch claimed that 35.4 million British people now barter for better deals as they seek to cut spending and become debt free.
By Chris Trimble
