- Home Mortgage Rates
- Home Prices
- Cars & Car Financing
- Hotel Rates & Vacations
- Television Sets and Expensive Electronics
- Handyman and Other Services
- Any big ticket item
Since the economy is in a recession, now is the best time to practice your haggling skills when making purchases. I’ve had a lot of great success haggling over jewelry and home mortgage interest rates. A friend of mine used to work for a national jewelry store, and they have up to 40 or 50% negotiating room built into the price of jewelry in the display case.
Try carrying cash into a store in large denominations and showing it to the clerk. Many stores now are in either financial trouble or just barely squeaking by. They would rather make less profit than no profit at all if you walk away from the sale. That is the key point. Do not let the salesperson know how badly you want the product. Be ready to walk away. That is your most powerful negotiating tool. Also, never be the first person to name a figure. And, make sure that you are talking when someone who has the right at the store to negotiate a better price with you. Go straight to the top if you have to.
Some lines to practice when shopping…
“Is that the best you can do?”
“What ca you do for me if I pay in cash?”
“Would you take less?”
“Well, I’ll have to talk it over with my boss / spouse / partner.”
“I don’t know.” (Don’t be afraid to just stay silent.)
These simple sentences can be quite powerful when you are trying to haggle a price down. Did I miss some? What works for you?
What are some purchases that you have had success in negotiating and haggling the price down?