Everyone likes a bargain but not everyone is comfortable or knows how to haggle in order to get a better price. If you’re looking for a better deal on a home loan then speaking with one of our Expert Aussie Brokers is the way to go, but if you’re looking to save on a fridge, a holiday or even a car you have all the tools to make that happen – you just need to know how to use them.
In no particular order we give you our top 10 haggling tips:
- Time it right: Time your shopping according to the store sales calendar. Often your chances of securing a better price are increased at the end of the month when sales budget deadlines are on the horizon and the sales staff become a little bit more anxious to meet their targets –smell their desperation and play it to your advantage!
- Curb your enthusiasm: Acting nonchalant and showing very little excitement for the item in question can entice your salesperson to work hard to convince you into a sale with further discounts and deal sweeteners – treat ‘em mean and keep ‘em keen!
- Make a friend: The old saying goes ‘you can catch more flies with honey than with vinegar’, not that we’re trying to catch flies but if you are able to get onto the friendly side of your salesperson all the better – ever heard of mates rates?
- Offer them cash: Credit card transaction fees can take a significant chunk out of a store’s profit so offering to pay cash can make you stand out as a potential sale. Plus once they hear you’ve the means to pay in cash they’ll realise that the chances of a sale with you are all the more likely.
- Look for flaws: Most places will offer a discount for items with flaws so if you’re buying for your own personal use as opposed to a present consider finding the same item but with a cosmetic flaw – it’s a reason to ask for a further discount. If you happen to find a flaw that is easily fixed or can be easily overlooked like a ding on the side of a fridge then all the better for your wallet.
- Ask for freebies: It’s always smart to ask! Truer words have never been spoken and it’s also the basic principle of haggling – if you never ask you’ll never get. Sometimes an item could already be marked down as low as it can go, in these instances salespeople will rarely budge on price so why not try for some free extras? You’re buying a suit, ask for a free shirt or tie, or if you’re getting a washing machine why not ask for free delivery?
- Have an escape plan: If you feel uncomfortable haggling and need a way out an escape plan in the form of an excuse to leave is essential especially if you feel your salesperson is getting the upper hand in the bargaining exchange. ‘Oh gosh look at the time’ or ‘I’ve got to pick up the kids from school’ are excellent ways to excuse yourself with minimal explanation.
- Do your research: Knowledge is power so go in armed knowing what the competitors prices and deals are, often stores will beat a competitors price (most commonly by 10%). If you’re extra persuasive you could even get some freebies thrown in with your purchase as well –free set of steak knives? Don’t mind if I do!
- Buy in bulk: In the instance of a single big purchase like a car, buying in bulk mightn’t exactly be an option however buying multiple items from the one seller could be. Say you’re looking to get a new dining table; ask for a discount if you also opt to purchase the dining chairs and some chair cushions. You can even ask them to throw in free delivery on top of the discounted combined purchase or even upgrade the fabric of the chairs for no extra cost – never hurts to ask.
- Prepare to walk: If a store you have your heart set on isn’t willing to cut you a deal to beat a competitor casually mention that you’re prepared to walk and then make good on your word and walk out the door. Salespeople need to know that you mean business and if they’re not prepared to entice you to stay with some flexibility on the sale then walk out the door and go somewhere that will – their loss can be your gain!
Do you sweet talk the sales people or do they sweet talk you? Share your haggling experience with us in the comments below!
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