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How to negotiate prices

Many people are unaware of how many services and products have prices that can be negotiated. From cars to rent and other products and services, there is usually some wiggle room in the price. Finding a way to score great deals is a great way to save money, and avoid paying unnecessary and high rates. Here are a few tips to getting yourself the best deal.

Study up

Knowing your facts about the product or service you’re looking for a discount on is first and foremost. Do your best to understand the reasonable value of the item in the  market. You can do your research online, by calling competitors, or by looking up what others have paid for the same item.

Prior to negotiating it’s important to understand what you can get that item for elsewhere, and if you’re already getting a good deal. It’s important to come to the meeting, or sales place with solid, reliable information on hand so that you can use that to get a fair price.

Look for sales, coupons, and out of season prices

Whether you’re looking to rent an apartment, buy new furniture, or invest in the latest beauty trend, there are often times that those items go on sale, offer discounts, or have great deals. Do a search online for coupons, off-season times for items, and other discounts.

Often times certain products will go on sale during certain times of the year, meaning if you wait a month or two then you could snag an even greater deal. If you’re in need of the item right away, ask for the discount to be applied now and you may walk away with a steal of a deal without waiting for the coupon.

Know your limit

A great negotiation tool is knowing when to walk away. Often times when a salesperson doesn’t believe you’ll walk away, they’ll continue to push to get you to spend more; but once you walk away the the idea of a lost sale becomes a reality, you’ll see a change in the salesman immediately.

Decide on your limit before you go into your negotiation, and be willing to walk away if you’re not getting what you want. If you show the other party that you’re serious, have done your research, and will not pay for more than what you believe the product or service is worth, then you’ll show them that you’re serious, and won’t take less than what you expect.

Negotiating can be uncomfortable, and may end up in you walking away from a service or product that’s overpriced; but trust in the research you’ve done and be willing to value your hard earned money enough to leave anything overpriced behind. Stick to your guns and you’re sure to save yourself money in the long run.

Anna Johansson

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