: How to Save Money by Haggling
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(524 Words)
Haggling can save you a lot of money on a variety of products such as cars, houses and more. With skill, you can secure better prices. The following points describe how to save money through this practice.
Prepare first
Before you even start to haggle you should have an idea of what you should or want to pay for the item. You should think of a maximum amount that you will be willing to give out so that you will know how to respond to their offers. If it is a big ticket item such as a car or house then you will need information to help you while you are haggling. This includes information about what others are paying for similar items (such as a recent sale of a house on the same block) or what the car dealership actually paid for the car.
Be unemotional
If you get emotional and show that you cannot live without the product then you are giving a gift to the seller. If they know that you are not leaving there without the product no matter what they say, then they have no reason to offer a lower price. Even if you do feel this way, you should be logical and nonchalant. Act as if you are perfectly willing to walk away if the deal is not acceptable.
Start out with a low but reasonable price
Some people start haggling with a ridiculous price point. This might show the seller that you are not being realistic or signal that they should respond with something as equally ridiculous. You want to give a little space for them to feel like they are getting something but you want to show them that you are reasonable.
Use evidence
Show that you know where you are coming from with the haggling. For instance, if they are claiming that they are making no money on a car, then show that you have an idea of how much they paid for it and that you know that they are indeed making money. You can talk about how much others paid this amount for a similar product.
Go back and forth
If necessary make some offers and counteroffers. Show that you are willing to both give and take.
Stick firm with your final price
If you really feel like you have hit the price you want to pay then be firm. Show them that this is where you can go and now you are just waiting to hear whether it is acceptable to them.
Do not be afraid to start to walk away
Oftentimes you will receive the best deal as you are walking away and halfway through the parking lot. When they realize that you are truly giving up their offer they may run after you and accept yours. Remember that you can always walk right back in.
Haggling is more prevalent in certain industries and in certain locations such as flea markets. Knowing the right way to do it can make a difference in the final price that you pay. The above points can help you use this technique to save money.
Updated On: 09/10/2010 Published On: 09/10/2010 Article ViewerClose
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