Haggle to Save Money

Here's another piece that says you can save a good amount of money by haggling on price. Here are the haggling results from one Consumer Reports staff member:

First, she used an offer from a rival bank to pressure her own lender to cut the rate on her home-equity line of credit by a full percentage point. Next, she protested her cable company’s $10 monthly increase and gained a $15-a-month loyalty discount instead. Then she coaxed her home heating-oil company to cut its price by 25 cents a gallon, saving about $176 for the rest of the season. Finally, heeding her therapist’s advice to be more assertive, she negotiated a $40 discount off her usual fee of $175 an hour.

Good for her!

The post also includes a video that gives the basic steps needed to be a successful haggler. Their three points:

• Be polite and discreet
• Know the fair price
• Deal with the person in charge

I've long been a supporter of haggling (or "asking for a discount" as I sometimes call it) to save money. Here are a few reasons why:

• FMF Reader Takes Advice, Saves over $400 Per Year on Comcast

• Another Example of Asking for a Discount Saving Money

• Two Examples of Saving Money by Asking for a Discount

• Yes, You Can Save Money by Asking a Hotel for a Discount

Comments

[Paul B.]

I'm a big believer in this approach, and it's saved me thousands of dollars in the last few months. I recently purchased a high-end home theater system, including a very large plasma TV. The initial written price quote with professional installation started out at nearly $10,000. By the time I was done, the price was down to about $7000, and they threw in extended service warranties at no additional charge and offered me 36 months without interest. I pursued a similar strategy on a high-end exercise bike.

Seeking a discount doesn't work for everything, of course. But it can work wonders for many items and it doesn't need to be an unpleasant process. I've successfully used some of the following comments to obtain significant discounts:

Do you offer any discounts or specials on this?

I really like this _______, but the price is significantly more than I've budgeted. Is there any flexibility on the price?

I'd be willing to buy this _______ right now, today, if the price were lower.

Go out there at get the good deals you deserve!

[Kevin]

My new favorite words are:

"Can you do better than that?"

The answer is usually yes.