The Art of Negotiating for a Better Deal

Piggy savings bank

I am learning to negotiate. I have learned to be patient and research products. Impulse buying can bring regret and disappointment. I am still learning the art of asking for a better deal. As a shy person, it is sometimes difficult to assert myself. Stay tuned for my post on Thursday where I did assert myself and ended up saving us $17 a month!

Five Tips To Use When Negotiating For A Great Deal

by Mrs. Not Made of Money

Not all prices are set in stone, especially these days, when many items are for sale on internet auction sites and the like, adding a lot of competition to local and chain stores. If you know how to negotiate, you can find a way to lower prices of many of the items that you buy. Here are five tips to use when you attempt to negotiate a deal on your next purchase.

1. Be Willing To Negotiate

Negotiation is a nerve-wrecking exercise for many of us. However, if you are willing to take a chance and give it a try, getting a “no” is the worst that can happen. Do not be afraid to approach a seller with a new price. A little boldness can go a long way.

2. Be Willing to Walk Away

For many sellers, if they believe you will still buy an item at its current price, they have no incentive to lower the price for you. You must be willing to cancel the deal if they do not negotiate a lower price. That means you may have to walk away, even if it is something you want. If you walk away because you did not get the deal you wanted, you may very well hear from that seller a few days later.

3. Talk to the Person in Charge

Many people working at places such as car lots, realty offices, etc., have little or no authority to change the price of an item. Make sure when you are negotiating that you talk to someone who has the authority to change the price of the item in question. This may mean asking for a manager or supervisor.

4. Shop Around and Get Competitor’s Prices

Many large chain stores have “price matching” incentives for customers. If you as a customer can find a competitor with the same item for a cheaper price, get the ad and bring it to the store. You can often get that item for the same price or cheaper than the competitor. Doing your homework also lets the store manager know that you are serious about buying and not just window shopping.

5. Be Persistent

Sometimes you may have to ask more than once when trying to get that great deal. You may have to be patient as well. If you don’t get a discount the first time you ask, come back later and try again. The seller may be at the point that they need to get rid of the item if it has not sold, and they may be more willing to lower the price the second (or third) time around.

Negotiation can be tough, and a bit scary. However, with a little work and a little courage, you can save some serious money!

Mrs. Not Made of Money shares money saving tips at her blog

Photo: Alan Cleaver

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