It is a little known fact that you might actually be able to negotiate down the price of large ticket items at some stores. I’ve done this and it worked! In fact, my husband and I purchased a 46″ LCD TV and television stand at a local furniture store and were able to knock an additional 5% off of our purchase price. How? Read on to learn how we were able to pay less than the advertised price on our items.
Cash is King.
When you use cash, stores do not have to pay the credit processing fees (which is built into the price of every item). When you show them cash (not even a debit card or paper check), they know you mean business. They don’t have to worry about fees, possible returned checks, waiting for payment from the finance company, etc. Cash can take you further. Just ask the store if they offer a cash discount.
Know the competition.
Before you walk into the store, do your homework. One thing you can do is find the same product at a competing store. Even though stores may not advertise price matching, they may be willing to offer you the same prices as a competitor, just to get your business.
Be prepared to leave.
If you do not get the deal you want (within reason, of course). Be prepared to walk away. Sometimes, when they see that cash ready to walk out the front door, they might be willing to negotiate with you and find a price upon which you can both agree.
Ask for something of value to you.
If you can’t get them to drop the price, perhaps you could get an item added for free, such as delivery or cables if you are purchasing a television. You don’t want to be too aggressive and ask for something very expensive, but you might get something for nothing if you negotiate it into your deal.
If you speak with authority, you will sound sure of yourself and as if you have done this many times before. Avoid raising your voice when asking something as it can give the sense of timidness and willingness to give into a price you may not want to pay.
Know that not all stores are willing to negotiate.
Some stores will not negotiate at all. It is just not their policy. If that is the case, you may need to try shopping elsewhere or just give in and pay the price on the store shelf.
As I mentioned above, we were able to negotiate a discount on our first attempt of asking. We weren’t sure they would do it, but we went in and showed them the cash, asked for a discount and were offered with 5%. We were very happy with that. However, we were more thrilled that we paid for those items with cash and didn’t have to feel the burden of a bill coming our way in a few weeks (with hefty interest attached to it).
Have you ever negotiated a deal at your store? How did it go for you?