SHARK BITES – Rules For Negotiating a Discount
When it comes to your finances, finding and getting the best deals can keep your bank account happy and your 
budget in tact. The rules for negotiating a great deal are fairly simple, but take some work. The next time you are faced with questionable pricing, don’t walk away. First, try these tactics to lower the price and get the deal you want! Use these rules with everything from flea market vendors to car sales, and damaged items in a store to vacation motel/car rentals.
- Do your homework – Know what the competition’s price marks are. If the discount you’re requesting is too low, you don’t stand much of a chance at getting it. Find the middle of the road pricing, and drop just under that. Knowing what other companies charge will help you find this price point.
- Set a limit – Just like an auction, you’ll need to know your maximum budget. Set a limit as to how far you are willing to negotiate, and once you reach that limit, stop. If negotiations start too close to that limit, you may consider finding another avenue to keep the price way under your designated budget.
- Don’t forget to ASK – You won’t know if you can get a discount unless you ask! Ask hotels, car rental companies, vendors, restaurants and even electric companies and cell phone companies for discounts. You might just find that they offer price breaks that you qualify for, and can get!
- Trade goods or services – This tip is especially handy when it comes to flea markets, pawn shops and home services. If you can offer a trade in services, you’ll have a better chance at an even swap, OR discounted price. Offer what you can, and negotiate from there, but make sure you aren’t giving up too much to get the deal you want.
- Be polite but firm – Stand your ground on your price, and be professional about the way you approach the negotiation. If you get frustrated, simply stand your ground and continue to negotiate until the deal is done. Being polite can make a huge difference in the way people react to you and respond to your requests! You’ll get more flies with honey – and that’s very true!
- Know when to walk away – If the negotiation is taking too long or isn’t worth your time anymore, just walk away. Chances are, you’ll have the opportunity try your tactics on another company offering similar services or goods! Walking away from a no-end negotiation will save you time and allow you to save money elsewhere!
With these 6 tips, you should be able to broker any deal you need. Be knowledgable of what you want and what the competition offers, set your limit and make sure you inquire about discounts. If money isn’t talking, try to trade goods or services, be polite but firm, and know when the deal just isn’t going to happen. Good luck in your deal negotiations!
“Don’t sink with the fishes. Be the consumer in the know!”
~Sharky
What is “Shark Bites”? Shark Bites is a money-saving tips series here on FreebieShark that aims to help you and your family get the most out of your money. “Shark Bites” posts are both educational and straight to the point. Just another way FreebieShark is helping you save!
