One way to save more money is to try to get a lower price on everyday items and non-tangibles such as hotel rooms and meals. While there is plenty of room for haggling in most situations, there are sometimes that it won’t work. Here are some tips for how to haggle for the best price and some tips for when haggling won’t be a good idea.
Are you afraid to ask for a good deal? Here's how to haggle for the best price on what you want to buy.
Use the right words. Things like, “I really like this, but..” and “I really want to spend my money here, but..” work for many situations such as car dealerships, discount and thrift stores and even services such as dentists. It lets the establishment know you intend on buying something and if they don’t jump on it, they might lose out.
Don’t be afraid if you get silence, especially on the phone. It is the key time when the person you are haggling with is at least considering your offer. Silence means you haven’t been told no yet and the company may be willing to work something out to keep your business and your money.
Know what you are willing to pay before you go in to haggle and start at a lower price than that. The first price will probably not be something they are willing to pay, so when you counteract with a higher price, they will think they have won and you will pay what you are willing to.
Know who to talk to. You want to find the person with the most authority so you can get the most for your money. If you start with someone who doesn’t have any wiggle room, you may not get very far and end up frustrated.
Do your homework. If you see ads for something you want at a lower price from a competitor, make sure you bring the ads with you. These are your key bargaining tools. Even if an establishment doesn’t advertise that they price match, they might be willing to if they know you will go straight to their competitor if they don’t. Using the Shop Savvy app is a great way to do this too.
Know that some things cannot be haggled. Many corporate prices are stuck like glue and many things like meals and food cannot be negotiated. Accept this and gracefully move on.
Seek out products that may not be aesthetically perfect. You may be able to get a store model of something or a box of food that is banged up a bit if you simply ask for a lower price. This won’t always work, but many stores know that the vast majority of people don’t want products that may not be perfect, so they may be willing to let you take it at a lower price just to make sure it sells.
Don’t get defensive. You want to come across as non-pushy and like you are in a good mood and willing to be respectful. If you come across as angry or disgruntled if the haggle is not going your way, the retailer is more likely to dig in their heels in the hopes that you will leave and not come back to try it again.
Check out the competitor’s rates If the item you are haggling for is a service. You may be able to get a better deal if you know what the market is like in that particular field. Also, you can often get a great deal if you buy services in bulk or up front.
Now that I've shown you how to haggle I hope you'll check out some of these other frugal tips: