Are you sure that's the best you can do?
To lots of people, haggling is awkward, uncomfortable and inappropriate – unless it pays off.
A recent poll by Consumer Reports found that more than two thirds of those who tried to negotiate for a better deal were successful.
Among those who haggled, 83 per cent negotiated better deals on hotel rates, 81 per cent reduced their cell phone bills, and 81 percent went home paying less for clothing.
It's all about being willing to hear the word no, says Fred Gleeck, author of Negotiate Everything: How to Get the Absolute Best Deal on Any Product or Service You Buy.
The only surefire way to avoid snagging a discount – not asking in the first place, which is particularly true in face-to face encounters like flea markets or even online using sites like Kijiji or Craigslist.
Person-to person vendors add in a "haggle factor" to their prices, so you should definitely try to ask for a lower price. But there's also etiquette at work: To avoid offending the vendor, don't ask what his or her best price is and then keep trying to haggle, advises the Consumerist.
When it comes to the process, there are different strategies. Some veteran shoppers say they start at half off and work upwards. Some vendors say that 20-25 per cent off is reasonable, but over that you're going to offend them.
And then there’s the timing. If you show up early in the day, sellers have less of an incentive to come down on price since, they believe, there’s still an entire day remaining for someone else to come and pay full price.
When was the last time you found yourself haggling? Was it uncomfortable? If not, what’s your favourite strategy?
By Gordon Powers, MSN Money
* Follow Gordon on Twitter here.
Posted by: Chip | Jun 21, 2021 11:12:14 PM
Last time I haggled was when I purchased a Hyundai Tucson in August 2010. Since they didnt have the exterior color I wanted with the end-of-year 2010 models (most of what were left were silver), I told the dealership to call me back if they were willing to offer me a 2011 model for the same price. ONE day later, they called and we made the deal... all they needed to do was some creative financing by jacking up my trade-in $$$ and reducing the interest rate from 1.9 to 0.9%. If ya don't ask (and aren't ready to walk out the door)... ya won't get.
Posted by: Jim Obrien | Jun 24, 2021 10:52:17 AM
I found an even better way than haggling! Now I just look for companies offering the Co-op programs. This means that you purchase what you want at a bulk rate (much cheaper) since you are buying the same product(s) with other groups of people. So now the company that you are buying off of is able to order many products from the manufacturer (even if you only require one) creating a bulk rate for you. I know they have a bulk rate for solar panels and the MicroFit program and that is working out well. The website is located at www.themicrofitprogram.ca
Not sure if I worded everything correctly so I posted the website for people to view for themselves.