The Fine Art of Negotiating

Posted by Elizabeth Halpern | Posted in Credit Report | Posted on 23-09-2010

For many people, negotiating or “haggling” for a lower purchase price makes them bring out in measles-like spots. I, however, relish the opportunity to work with a salesperson to come up with a mutually acceptable price.Of course, you can’t haggle over a $10 DVD, the latest electronic gadget from Apple or anything from a warehouse club, but everything else, from autos to hotel rooms to window treats, is fair game. Better the extra money in your pocket than in some company’s cash drawer.In a Chicago Tribune article by Elizabeth Ody, “…if you’ve done your research, a few words may be all it takes to score a discount.” In these difficult economic times, it may certainly be worth your while to gird your loins and harden your nerves.Allan Stark, a bargaining guru, teaches consumers to approach bargaining with a sense of humor and to keep it light to relax the customer service reps and get them on your side. Your best bets on haggling include:

  • Major appliances – try pitting one store against another and “never buy from the first store…” advises Stark. He also recommends using such phrases as “That’s way beyond my budget” or “I’m just not there”. You should also bring ads from other retailers and print-outs of prices from the Internet. This could get your salesperson to speak with the manager to get you a lower price.
  • Mattresses – when shopping for a mattress, the sticker price is nonsense. I have personally purchased three mattresses over the last three years, leaving one store altogether and getting the mattresses for at least 50% less than the sticker price. Who cares if the mattress and box spring are ‘last year’s model’ or if they don’t match, they’re covered by sheets.
  • Health club memberships – the advertised price for a gym membership is rarely the final cost. Many gyms and clubs have eliminated their enrollment fees due to the rough economy. And don’t agree to a full year membership as part of your negotiation; who knows where you’ll be in a year.
  • Rent – when it’s time to negotiate your rent (on a new or renewed lease), you should only agree to little or no increase. The part of the Consumer Price Index that measures changes in rent was flat.
  • Money advice – Although it is possible to negotiate fees with your financial advisor, Sheryl Garrett, a financial planner, advises to request Form ADV Part Two, which explains the adviser’s compensation policy and sets forth if they are negotiable. You also may be able to pay a lower fee by doing some of the organizational paperwork yourself or politely asking what you can do to bring down costs.

During these tough economic times, with 9.5% of Americans out of work and struggling to make ends meet, haggling over the price of a big purchase makes sense. Try it, you may just find that you have the knack of the fine art of negotiation.If you are presently experiencing overwhelming debt, you may be considering personal bankruptcy protection. For a successful Chapter 7 or Chapter 13 bankruptcy, you need a team of experienced lawyers.  Please call Legal Helpers toll-free today at 800-260-1402 to speak with a qualified and compassionate bankruptcy attorney. Your initial consultation is no-cost and could be the key to unlocking the door to your financial freedom.

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