Motorists may be paying out more than they need to when buying, insuring and financing their new car, according to insurance company Esure.

The research shows that 78% of Brits are more likely to negotiate at a car boot sale than they are on a car forecourt.

Furthermore, more than 2.3m motorists said if they were to trade in their current car as a part-exchange, they would not bother to check its current market value before making the swap. Less than half (46%) of motorists would not get an insurance quote before purchasing a new car.

Mike Pickard, head of risk and underwriting for Esure, said: “We’re known for being a nation of bargain hunters and are always out to get the best deal – but when it comes to buying a new car so many motorists are failing to put the theory into practice.

“It’s crucial for all motorists looking to buy a new ‘08’ plate to do their homework, shop around for the best deals and be both confident and clued up in front of a salesperson – or else pay the price.”