Saturday, January 17, 2009

Negotiate A Cheaper Price

Before you buy anything, you need to know its market value. Many things we know by heart: A cup of coffee runs between $1-2, a gallon of milk about $2-3, and a movie ticket is between $8-12.

For other things, you may need to do a little research to be sure you’re not getting ripped off. Five minutes on the Internet can usually give you a ballpark value on almost anything.

Once you’ve established the market price, you need to figure out how much of a price reduction you might ask for. The discount depends on the type of product, its abundance, and when you need it.

When shopping for manufactured goods (for example, cars, electronics, or tools), 10 percent is a good discount, and 20 percent is great. With household goods (such as furniture, appliances, and carpet) you can try for an additional 10 percent.

The deepest discounts come on services (hotels, broadband, and lawn care), where you can often get price reductions as high as 40 percent if you’re willing to pay cash, bundle services, and/or commit long term. Read the entire article.

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