Why Didn't They Teach Me This in School?: 99 Personal Money Management Principles to Live By by Cary Siegel

Author:Cary Siegel [Siegel, Cary]
Language: eng
Format: epub
Publisher: CreateSpace Independent Publishing Platform
Published: 2013-03-06T08:00:00+00:00

Principle 41

NEGOTIATE EVERYTHING

Never accept the price of any product or service (particularly big-ticket items). Most people accept the price as a given when it’s not. Negotiation is uncomfortable. It causes stress and tension. It makes you look cheap. It makes you feel rude. Sometimes it even makes you feel dumb. All of these are true (at times), but negotiation also saves you hundreds of thousands of dollars in a lifetime.

Here are a few quick tips:

Ask lots of questions, and let “them” do the talking. You will be amazed at what you learn.

▪Do your research and have all the facts.

▪Never “absolutely have to have” something; be willing to compromise on what you purchase.

▪Delay your purchase until the price and terms are acceptable.

▪Pay cash for a better deal.

The best example of this is when you purchase a car. Follow the tips above, and this is what will happen:

▪The salesperson will ask you lots of questions. Do the reverse to him or her.

▪Use the Internet to find out pricing and discounts.

▪Don’t fall in love with one specific car. Make sure the salesperson knows you have plenty of alternatives.

▪Don’t buy until you’ve left the showroom at least a couple of times. It’s rare when a salesperson won’t come after you with “one final, better deal.”

▪At the end, pay cash (don’t lease). Buy only what you can afford.

If you use these five quick tips, you will save yourself thousands on just one car purchase.

As you know, this is not a book about negotiation, so I won’t teach you all the ins and outs of negotiation. If you’re interested in becoming more skilled in this area, check out the helpful books and seminars that are available.

If you keep in the back of your mind that prices and terms are always negotiable and if you’re not afraid to negotiate, you will get better prices and terms more often than not. Remember, if you never ask for something, it is impossible to receive anything. Use negotiation to get what you want at the price you want to pay.

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