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Bargaining – It can’t hurt to ask
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For more information contact:
Tanisha Warner (713) 394-3202 |
Release Date: November 14, 2006 |
Everyone loves a bargain. While some people are content waiting for a sale, some savvy shoppers rely on their negotiating skills to get the most bang for their buck. If you’d like to become an expert dealmaker, the first step is to put aside any embarrassment and simply ask for what you want. Your request will go even farther if you follow a few basic rules:
- Do your homework first and know what the item or service is worth.
- Always talk to someone with authority.
- Be polite and do not discount the value of what you want.
- Offer to pay in cash.
- Be prepared to walk away.
It also helps to realize that you can bargain for more than price. For example, next time you rent a hotel room, ask for an upgrade. After all, the worst they can say is “no.” The following tips from the experts at Money Management International can help you get the best deal possible at various locations:
Garage and estate sales. Whether they are selling a car or an old watch, people tend to attach emotional value to their asking price. Since you do not have a sentimental attachment, there is no reason to pay more. Offer what you are willing to pay in a nice, but firm, manner.
Grocery stores. If a food item’s expiration date is nearing, ask for a price reduction. The same goes for other items that have an expiration date, such as film or batteries. The price of ripe fruit and vegetables may also be up for negotiation.
Retail stores. Prices are not always negotiable in a retail shop; however, if you find a similar item on sale (at any store), the store manager may be willing to match the price. Buying in quantity might also qualify you for a discount at many stores. Any time an item is damaged or dirty, ask for a reduced price. If you are over age 55, always inquire about a senior discount.
“Finally, don’t forget to bargain with your service providers,” said Cate Williams, vice president of financial literacy for Money Management International. “Plumbers, babysitters and even doctors may be willing to work with you. Always get multiple bids for any service project. Then, choose the provider that you most want to work with and ask them to meet the best price you were quoted. Be honest about your desire to work with them—for the right price.”
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Money Management International, is a non-profit community service organization that provides confidential financial guidance, counseling and debt management assistance to consumers. MMI helps consumers trim their expenses, develop a workable budget, lower their debt payments and repay debts. Services are available by phone. To visit with an MMI counselor, call toll-free 1-800-762-2271- 24 hours a day, 7 days a week. Spanish speaking counselors are available. Consumers can also learn more by visiting the MMI home page at www.moneymanagement.org.
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