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Transcript: Haggling for a better deal

Anchor Intro: For most shoppers, if something’s not on sale, the only option they see is to pay full price. But there are shoppers out there that never view full price as the final offer. Bankrate.com has some tips to help make you a better negotiator so every price you get will be a bargain.

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Voice over 1: When you’re buying a car, more often than not you’re expected to haggle. Bargaining for a better deal is part of the process. But you’d be better off taking the bargaining skills you use here and using it elsewhere as well.

Voice over 2: When it comes to expensive things like appliances, furniture and jewelry, most just people pay the sticker price, no questions asked. This is also true of expensive doctor's visits.

Voice over 3: But according to a recent survey by Consumer Reports, bargaining works in many places. Over a three-year period, 94 percent of people who tried negotiating a better deal on furniture got a better price. Ninety-three percent of negotiators had a medical bill reduced and 92 percent got a lower price on consumer electronics.

Voice over 4: So how do you become a master haggler? One way is to time it. Find out when new models of items you want come out, search for extra bargains after big sales periods or when what you want is out of season, like a bathing suit in winter or a sweater in summer.

Voice over 5: Next, you need find the right person. Don’t waste your breath on a salesperson with no power to lower the price. Find a decision-maker first.

Voice over 6: Try to find the right product. Look for something slightly imperfect, scratched or dented. Explain how hideous it is, then try to buy it cheap.

Voice over 7: And don’t forget competition. Use your Internet access as leverage. Find a lower price online and take it to a local retailer. See if they’ll match the price or at least come close.

Voice over 8: If you’re shopping anywhere that takes credit cards, paying cash saves the store 2 percent to 4 percent. Ask for a cash discount.

Standup: Negotiating doesn’t work just with cars. If you really want lower prices, ask for it. For Bankrate.com, I'm Kristin Arnold.

Bankrate.com's corrections policy
-- Posted: Oct. 31, 2008
 
 
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