How to haggle
Haggling isn't just for the markets, you could be saving yourself hundreds on the high street by negotiating yourself a better deal. It is commonplace on the markets in some countries and we rarely pay full price for antiques or when purchasing a house but we Brits think of haggling as being rude so it is not something that we do elsewhere. Find out how you could be saving yourself money everywhere with these simple tips.
Do your research
One of the most important rules of haggling is to make sure you do your research. Find out how much the item costs in different places so that you can find out its worth. This helps to form the basis of your first offer. If you are buying a second hand car, find out how much other people are selling the same model for so you have a rough guide of how much you should be paying. It may be worth printing out your research so that you can show the seller, then ask if they can match the price.
When negotiating, try and do this quietly away from other customers to avoid them overhearing. The seller will not want any other potential customers knowing that they could get a better deal.
Don’t go too low
Don’t start off with an unrealistic starting price as this is likely to cause offence to the seller. Decide in your head a maximum price that you are willing to pay but don’t let the seller know as there may be a chance they will go lower than that.
If you don’t want to pay the full price for something, give the seller a reason. Point out any damages or flaws in the product, most places will offer you a discount for damaged items but this usually makes them non-returnable. If you are a loyal customer, make them aware as this may sway their decision.
Pay in cash
If you are going to pay in cash, ask if this will get you a discount. Some places offer discount for cash as it saves them from paying any charges or fees. Alternatively, ask if there are available offers or discounts available on the item you are buying.
Don’t appear to keen
If you act too enthusiastically about a product, the seller will know how much you really want to buy it so will therefore be less likely to offer you a better deal. Subtly show an interest in the product before you start the negotiating.
Pause between offers
When the seller makes you a counter offer, don’t respond straight away. Pausing for a few seconds will show that you are considering their offer seriously and giving it some thought. This also shows that you are serious about buying.
If you are not happy with the best deal being offered to you, ask the seller if they will hold that price and then quote it elsewhere to see if someone else will offer you a better deal.
Choose the right time
When shopping for expensive items like a car, it’s best to shop at the end of the quarter or in some cases at the end of the month. Salesmen get sales bonuses at these times and car dealers often get a bonus based on quarterly sales so they are more likely to drop the price in order to make the sale. If you are haggling at a market, arrive near the end of the day to get a better deal.
Ask for extras
If you cannot negotiate a low enough price, agree to their offer on the condition that something else will be thrown into the deal at a reduced rate. There is no harm in asking and the worst they can say is no, so why not just try?
If you are not happy with the price and cannot negotiate a low enough deal, walk away. You may find a better price elsewhere. Don’t pay over the odds if you don’t think it is worth it.
When you get a discount on something, in most cases this will make the item non-returnable or exchange only, so make sure what you are buying is something that you really want or need as you won’t be able to change your mind later.
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