Times You Should Always Haggle for a Better Price
Times You Should Always Haggle for a Better Price
Mar 30, 2022
There are times when you should always haggle, like when you're at a flea market or
purchasing a new car. But there are other, less obvious situations where your
bargaining chops may come in handy. For example, did you know you can negotiate
the price of your monthly rent?
You may immediately think, "my landlord would never do that," but there are
specific methods to approaching situations like this. We've compiled a list of
techniques you can utilize to get discounts on services, living expenses, and
products.
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Similarly, you can always negotiate the price of used items, whether you're shopping at a thrift shop, garage sale, or second-hand clothing store.
Transcript
Slide 1Overview
There are times when you should always haggle, like when you're at a flea market or
purchasing a new car. But there are other, less obvious situations where your
bargaining chops may come in handy. For example, did you know you can negotiate
the price of your monthly rent?
You may immediately think, "my landlord would never do that," but there are
specific methods to approaching situations like this. We've compiled a list of
techniques you can utilize to get discounts on services, living expenses, and
products.
Medical bills
If your medical bill is correct, ask the hospital if they can give you a “pay now discount”
if you’re able to pay the bill in full; if not, ask if they can set you up with a payment
plan. Pay now” discounts can reduce your bill by anywhere from 10 to 20 percent. If
you cannot pay your bill, ask the hospital billing department for a payment plan. This
can be spread over several years and be as little as $5.00 per month.
Flea
markets,
farmers
markets,
garage
sales
At flea markets, farmers markets, and garage sales the sellers typically set their
own price. If you know how to haggle, this is a great opportunity to get a really
good deal. Also, see if buying in bulk or large quantities can get you a price
reduction.
Hotel rooms
Hotels want their rooms filled, so it never hurts to haggle with the people at the
front desk for a better price or room upgrades. Hotels have to pay a commission to
booking websites, and pass on some of that as a benefit to the user. If you find that
the price is the same on the booking website and the hotel’s website, ask the hotel
for a room with a better view or more amenities.
Memberships
Memberships always come along with extra fees. It might be a renewal fee, startup
fee, or a maintenance fee if it’s your gym membership. Ask if they can waive some of
the fees or threaten to cancel and go somewhere else. They want to keep making
money off of you and might just give you a discount.
Lease
renewal
If you’re considering re-signing your lease, know that it is most likely more expensive
for the landlord to prepare your apartment for a new tenant than to lease to you for
another year. If you’ve had a good relationship with your landlord, try to negotiate in a
deal before you re-sign. If the landlord is going to increase your rent, ask if you can
increase it by less or not at all. If you consistently pay rent on time, are a respectful
neighbor, and take good care of your apartment they may keep your rent from
increasing.
Late Fees
If you've missed a payment, start off by saying that you understand you were late, but
you'd like to have the fee waived. Explain it was a mistake and won't happen again. If
the rep is particularly tough and won't refund the fee, respond with, "I'm sorry, but
I've been a customer for (fill in the blank) years and I'd hate for this one fee to drive
me away from your service.
Online selling
platforms
People who post items for sale online are typically moving or looking to get rid of
unwanted items. Use that to your advantage and ask for a lower price—the worst
they can say is no. You could also offer to come and pick it up quickly if they give
you a better deal.
and cell
phone bill
As annoying as your cable and phone provider may be, they don’t want to lose you as a
customer. If you’re signing up or looking to renew, sometimes you can get a lower rate
by telling a rep what the competitor is offering and saying it works better with your
budget.
A lot of cable companies give you a promotional price for your first year, make sure to
call right before the price goes up for your second year.
Insurance
rates
Just like cable companies, insurance companies don’t want you to switch to a different
provider. Use your customer loyalty to your advantage and try to talk to the right
person on the phone.
Tell them the service you are receiving is not good enough for the price. They might
offer you a discount to keep you.
Home
services
If you’re remodeling your kitchen or getting some yard work done, make sure to
shop around and get a few different quotes first. Use those quotes to negotiate
with the contractor you want to work with. Also, you may be able to haggle for a
better price if you offer to pay upfront in cash or schedule a contractor during the
winter months when business is typically slower.
Jewelry
You should know that the markup on diamond jewelry is anywhere from 50 to 200
percent and more. There is always room for haggling. You’d be surprised the changes
they are willing to make to the bill. If they refuse to come down in price, try to
haggle the labor charges.
Returned
items
Never miss an opportunity to haggle for a better price on items that have been
returned to stores. Stores will typically mark returned items that have been slightly
used or have a ding with a price reduction, but it doesn’t hurt to ask for more off.
They know that items that have already been opened aren’t as appealing to
customers and they want to get them sold.
Cars
Car dealerships are all about negotiation. Try and haggle the cost of the vehicle as a
whole, and don't let pushy sales people intimidate you. Also, if you're purchasing a
used car.
Get the car independently inspected by a trustworthy auto expert as well, and if
there are any necessary repairs or issues that need taking care of, haggle the price
accordingly.
Mortgage
Rates
The Federal Trade Commission advises consumers to shop around for mortgage
rates and negotiate to get the best one. A good credit score will go a long way in
helping you negotiate for a lower APR, and every person regardless of their score
should discuss lowering/eliminating certain closing and processing fees.
Rent
Did you know you can haggle how much rent you pay? This is especially fruitful when
renewing your lease. The landlord would much rather lease to you for a cheaper price
than face having to get a new tenant—one who hasn't established the same
relationship of trust as you have. (If you're consistently late with rent, however, your
landlord will most likely oppose lowering it.)
Home and
Yard
Maintenance
Home and yard maintenance is almost always handled by local, small business
owners. It doesn't hurt to try and ask for a lower price. Tell them you'd prefer to
work with them but that you've been quoted a lower price by one of their
competitors. Also, offer to recommend them to other potential customers, such as
frieds and family.
Furniture
There are a few easy techniques to use when trying to get furniture for a discount. A
customer who offers to take the floor model, is willing to wait for a special order, or
is purchasing multiple pieces as a package deal has a good reason to ask for a
discount. Paying in cash is also an incentive for a salesperson to knock the price
down.
Appliance
repairs
Yes, you can counteroffer when the refrigerator serviceman quotes you $500 to fix
your ice maker. Offer $400 and tell him there’s no rush, he can do it between other
jobs and at his convenience.
Car repairs
The bulk of the cost of any major auto repair is the labor and time spent fixing it.
Both are very subjective. You can Google the cost of parts and ask the mechanic how
many hours of work the job entails. Point out that yours is a multi-car family and you
are looking for a shop you can trust and rely on for all your repairs. Some mechanics
will offer you an estimate but qualify it to say they don’t know what they might find
once they break things down.
Dry cleaning
If you’re a steady customer at your local dry cleaner, threaten to go to a competitor
if the shop owner won’t come down in price.To point out that you have been a loyal
long-time customer, and they don’t have to pay for advertising to earn your business.
Credit card
annual fees
This is another area with substantial competition. Sometimes all it takes is to ask
the company to waive the fee and they will do so rather than lose your business. If
you have a credit card with a very low interest rate but pay off the balance every
month, that low interest rate isn’t really of much use to you, so why pay a fee for
it?
College
tuition
If you're a member of one of those families in which all the siblings end up
attending the same school. Some colleges are known to give discounted tuition or
financial aid when multiple family members attend.
Open-box
items
If you're looking for bigger ticket items, like a TV or electronics, ask if they have an
open box or a display item they could sell you for cheaper.
Similarly, you can always negotiate the price of used items, whether you're
shopping at a thrift shop, garage sale, or second-hand clothing store.
There are times when you should always haggle, like when you're at a flea market or
purchasing a new car. But there are other, less obvious situations where your
bargaining chops may come in handy. For example, did you know you can negotiate
the price of your monthly rent?
You may immediately think, "my landlord would never do that," but there are
specific methods to approaching situations like this. We've compiled a list of
techniques you can utilize to get discounts on services, living expenses, and
products.
Medical bills
If your medical bill is correct, ask the hospital if they can give you a “pay now discount”
if you’re able to pay the bill in full; if not, ask if they can set you up with a payment
plan. Pay now” discounts can reduce your bill by anywhere from 10 to 20 percent. If
you cannot pay your bill, ask the hospital billing department for a payment plan. This
can be spread over several years and be as little as $5.00 per month.
Flea
markets,
farmers
markets,
garage
sales
At flea markets, farmers markets, and garage sales the sellers typically set their
own price. If you know how to haggle, this is a great opportunity to get a really
good deal. Also, see if buying in bulk or large quantities can get you a price
reduction.
Hotel rooms
Hotels want their rooms filled, so it never hurts to haggle with the people at the
front desk for a better price or room upgrades. Hotels have to pay a commission to
booking websites, and pass on some of that as a benefit to the user. If you find that
the price is the same on the booking website and the hotel’s website, ask the hotel
for a room with a better view or more amenities.
Memberships
Memberships always come along with extra fees. It might be a renewal fee, startup
fee, or a maintenance fee if it’s your gym membership. Ask if they can waive some of
the fees or threaten to cancel and go somewhere else. They want to keep making
money off of you and might just give you a discount.
Lease
renewal
If you’re considering re-signing your lease, know that it is most likely more expensive
for the landlord to prepare your apartment for a new tenant than to lease to you for
another year. If you’ve had a good relationship with your landlord, try to negotiate in a
deal before you re-sign. If the landlord is going to increase your rent, ask if you can
increase it by less or not at all. If you consistently pay rent on time, are a respectful
neighbor, and take good care of your apartment they may keep your rent from
increasing.
Late Fees
If you've missed a payment, start off by saying that you understand you were late, but
you'd like to have the fee waived. Explain it was a mistake and won't happen again. If
the rep is particularly tough and won't refund the fee, respond with, "I'm sorry, but
I've been a customer for (fill in the blank) years and I'd hate for this one fee to drive
me away from your service.
Online selling
platforms
People who post items for sale online are typically moving or looking to get rid of
unwanted items. Use that to your advantage and ask for a lower price—the worst
they can say is no. You could also offer to come and pick it up quickly if they give
you a better deal.
and cell
phone bill
As annoying as your cable and phone provider may be, they don’t want to lose you as a
customer. If you’re signing up or looking to renew, sometimes you can get a lower rate
by telling a rep what the competitor is offering and saying it works better with your
budget.
A lot of cable companies give you a promotional price for your first year, make sure to
call right before the price goes up for your second year.
Insurance
rates
Just like cable companies, insurance companies don’t want you to switch to a different
provider. Use your customer loyalty to your advantage and try to talk to the right
person on the phone.
Tell them the service you are receiving is not good enough for the price. They might
offer you a discount to keep you.
Home
services
If you’re remodeling your kitchen or getting some yard work done, make sure to
shop around and get a few different quotes first. Use those quotes to negotiate
with the contractor you want to work with. Also, you may be able to haggle for a
better price if you offer to pay upfront in cash or schedule a contractor during the
winter months when business is typically slower.
Jewelry
You should know that the markup on diamond jewelry is anywhere from 50 to 200
percent and more. There is always room for haggling. You’d be surprised the changes
they are willing to make to the bill. If they refuse to come down in price, try to
haggle the labor charges.
Returned
items
Never miss an opportunity to haggle for a better price on items that have been
returned to stores. Stores will typically mark returned items that have been slightly
used or have a ding with a price reduction, but it doesn’t hurt to ask for more off.
They know that items that have already been opened aren’t as appealing to
customers and they want to get them sold.
Cars
Car dealerships are all about negotiation. Try and haggle the cost of the vehicle as a
whole, and don't let pushy sales people intimidate you. Also, if you're purchasing a
used car.
Get the car independently inspected by a trustworthy auto expert as well, and if
there are any necessary repairs or issues that need taking care of, haggle the price
accordingly.
Mortgage
Rates
The Federal Trade Commission advises consumers to shop around for mortgage
rates and negotiate to get the best one. A good credit score will go a long way in
helping you negotiate for a lower APR, and every person regardless of their score
should discuss lowering/eliminating certain closing and processing fees.
Rent
Did you know you can haggle how much rent you pay? This is especially fruitful when
renewing your lease. The landlord would much rather lease to you for a cheaper price
than face having to get a new tenant—one who hasn't established the same
relationship of trust as you have. (If you're consistently late with rent, however, your
landlord will most likely oppose lowering it.)
Home and
Yard
Maintenance
Home and yard maintenance is almost always handled by local, small business
owners. It doesn't hurt to try and ask for a lower price. Tell them you'd prefer to
work with them but that you've been quoted a lower price by one of their
competitors. Also, offer to recommend them to other potential customers, such as
frieds and family.
Furniture
There are a few easy techniques to use when trying to get furniture for a discount. A
customer who offers to take the floor model, is willing to wait for a special order, or
is purchasing multiple pieces as a package deal has a good reason to ask for a
discount. Paying in cash is also an incentive for a salesperson to knock the price
down.
Appliance
repairs
Yes, you can counteroffer when the refrigerator serviceman quotes you $500 to fix
your ice maker. Offer $400 and tell him there’s no rush, he can do it between other
jobs and at his convenience.
Car repairs
The bulk of the cost of any major auto repair is the labor and time spent fixing it.
Both are very subjective. You can Google the cost of parts and ask the mechanic how
many hours of work the job entails. Point out that yours is a multi-car family and you
are looking for a shop you can trust and rely on for all your repairs. Some mechanics
will offer you an estimate but qualify it to say they don’t know what they might find
once they break things down.
Dry cleaning
If you’re a steady customer at your local dry cleaner, threaten to go to a competitor
if the shop owner won’t come down in price.To point out that you have been a loyal
long-time customer, and they don’t have to pay for advertising to earn your business.
Credit card
annual fees
This is another area with substantial competition. Sometimes all it takes is to ask
the company to waive the fee and they will do so rather than lose your business. If
you have a credit card with a very low interest rate but pay off the balance every
month, that low interest rate isn’t really of much use to you, so why pay a fee for
it?
College
tuition
If you're a member of one of those families in which all the siblings end up
attending the same school. Some colleges are known to give discounted tuition or
financial aid when multiple family members attend.
Open-box
items
If you're looking for bigger ticket items, like a TV or electronics, ask if they have an
open box or a display item they could sell you for cheaper.
Similarly, you can always negotiate the price of used items, whether you're
shopping at a thrift shop, garage sale, or second-hand clothing store.
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