Data collated by Sainsbury's Bank - the financial services provider affiliated with the supermarket - found that Brits are missing out on a collective £675 million in savings by not haggling.
On average, drivers could save up to £1,500 by haggling over the price of their new vehicles , but many are not prepared to make that move and will accept the first quote offered to them, the bank claims.
Steven Baillie, head of Sainsbury's Loans , commented: "We would advise people to make sure they secure the best possible deal by being prepared to haggle over the price of their new vehicle."
He also added that those planning to use personal loans to fund the purchase of a new car should make sure they have shopped around for the most competitive deal.
Credit reference agency Experian recently found that fewer Experian industry business failures are occurring, also managing director Kirk Fletcher pointed out that car traders are still experiencing tough conditions.
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