As per ConsumerReports.org, many people aren't usually comfortable with haggling. Call it negotiation or something else but fact remains that haggling does save you more green. I was inspired to give it a try by Ramit Sethi's constant corroborations for haggling and to my surprise it worked. Let me share the stories with you:
I recently bought my new car and in the process I negotiated with 12 auto dealers. My strategy was to negotiate a price to lowest possible with a dealer and take this lowest price to the next dealer. Like this I saved approximately $2000 on my car.
Second incident happened today, saving me just $3 but this is an example that the service providers and business owners are out there to consider any negotiations put forth; only thing keeping it back is customer's hesitation to take the first step.
I recently tried HSBC's CreditKeeper program and liked it. After 30 days of trial period I gave customer service a call this evening and said "I am calling to cancel my membership". The rep said "I will certainly be able to assist you with this but would you mind sharing the reason so we may keep your business?" Once I heard this I knew that the ball is in my court and I fired it right away, "I know other services currently available in the market which provide similar products at reduced costs, do you think HSBC would be able to do something regarding this?" And then the rep said "Certainly, if we can keep your business by reducing the monthly charges from $9.99 to $6.95, I would be very happy to do this". Bingoooo ;)
All I want you to realize is your 2-3 minutes call can save you some real good money then why not give it a try. This technique has also (indirectly) decreased my auto loan interest rate by 2.70%.
All you got to do is
- speak up and be confident
- be proud and prepared to walk out of store if it takes to melt the sales rep down
- while negotiating always be polite
- survey the product/service you are haggling at other providers in the market
So let it be your showtime next time you shop for something. Be a victorious haggler :) Leave me a comment if you save even a penny, I would be happy to use your tips.