We all want a lower price! As consumers, we often wonder if we can get a better deal. But sometimes asking for lower prices isn’t that easy and can even be a little intimidating. Keep reading to learn how to negotiate lower prices on anything!
HAVE A PLAN & TALK TO THE RIGHT PERSON.
Don’t just call up the company and ask for a better price. That won’t always work. Have a plan and know which department you need to talk to. Not every department is able to negotiate lower prices.
Recently, my mom called Comcast and asked for a lower price but the customer service representative said she can’t offer a better price to current cable subscribers. So my mom hung up frustrated. My brother called the same company and asked for the cancellation department instead. The representative immediately offered him a better price to stay with the company. He ended up keeping the plan and saving more money!
DON’T BE DEMANDING.
If the start off the conversation rudely, you might not get anything. So, if you’re trying to negotiate a lower price, in person or on the phone, start by being friendly instead of demanding. You will make much more progress that way and might even get a lower price than you were expecting.
My dad recently called his security system company, ADT, to cancel their monthly subscription. He was friendly and simply stated he wanted to cancel his monthly service. The customer service representative offered him 6 months of FREE service. Wow, what a great deal! And he didn’t even ask for anything!
COMPARE THE COMPETITION & WAIT FOR A RESPONSE.
Do your research on the competition before you call or go in to negotiate. Explain what price you found with the competitor then wait for a response. It’s helpful to give the customer service representative as chance to say something. Be quiet and let the company decide whether they can lower your price or give you a discounted deal.
I talked AT&T last week to cancel my cell phone plan since it’s now no longer under contract. I told the customer service representative that T-Mobile offers unlimited everything for $50 and Straight Talk offers unlimited everything for $45 and that both deals are much better than my $110 for 450 minutes, 2GB data, and unlimited text. AT&T immediately offered me my same plan for $62 instead of $110. I still didn’t take it because I still want to switch companies, but it would save me $48 per month on my cell phone bill.
DON’T WAIT UNTIL THE LAST MINUTE.
Plan ahead and anticipate when you’ll need negotiate lower prices. Car insurance can be negotiated often for a lower price so use that to your advantage when calling car insurance companies. But don’t wait until your car insurance is about to expire and you need to find another company. You’ll be stressed about switching companies and you’ll get more frustrated.
Last year, I kept getting mail from car insurance companies about lower prices so I decided to start researching for a lower price. I called USAA, State Farm, Geico, and Progressive (my company at the time) and spent about a week researching different car insurance options. I switched to USAA since they were $500 cheaper than my car insurance with Progressive. I have other accounts with USAA so bundling my insurance products saved $500 every 6 months. I’m very happy with USAA’s car insurance but if I wasn’t, I wold compare car insurance prices annually to negotiate a lower price.
BE WILLING TO WALK AWAY.
Car salesmen deal with this all the time! Have you ever tried to negotiate something you really want but the company or person wasn’t willing to negotiate a lower price? Just walk away. Chances are, they’ll call you with a better price anyway. If nothing else, you’ll get more time to research the competitors and can call back to negotiate a better price the following week.
I’m sure many of us have stories about how to negotiate lower prices on a car! Walking away can be so powerful. But it can also be so difficult if you love the car and think you NEED it. Just walk away. You’ll likely end up with a lower price anyway.
CONSIDER CANCELLING COMPLETELY.
Consider whether you really need the service anyway or if you should just cancel it completely. Can you live without a cable subscription? Or your cell phone? Or that new car? I personally still want my cell phone but can do without the cable.
I used to pay over $100 per month for cable but never turned on the TV anyway. So, I cancelled cable 7 years ago and now get free local TV channels with an HDTV antenna. I’ve saved almost $8400 and haven’t looked back.
We all have frugal stories about friends and family getting a better deal by negotiating lower prices. Sometimes its as easy as just asking for a lower price but often, it just takes a little planning to compare the competition. Their stories inspire me to look for ways to negotiate lower prices.
Have you ever negotiated a lower price? Please share your experiences in the comments below!
Thanks! To these amazing blogs for featuring Monica On Money:
Aspiring Blogger Financial Carnival hosted by Aspiring Blogger
Festival of Frugality hosted by See Debt Run
Carnival of Financial Independence hosted by Reach Financial Independence
Carnival of Retirement hosted by Mom and Dad Money
Earn More Spend Less hosted by Student Loan Sherpa
Carnival of Personal Finance hosted by Reach Financial Independence
Carnival of Money hosted by Financial Nerd