Experts Reveal The SEVEN Things You Didn’t Know You Could Negotiate The Price

The cost of everyday goods is more negotiable than you might think – and the savings can really add up.

Amid rampant inflation and prices skyrocketing across the board, now is the perfect time to haggle.

Whether it’s everyday necessities like home furnishings or your broadband and phone bill, or expensive items like a family car or even a house, speaking up can save you thousands of dollars.

The key to negotiating is good preparation and clear communication – so be sure to do your research before attempting to haggle on a product.

Here, Dailymail.com rounds up the best ways to haggle prices, including the ones you didn’t know you could get a bargain on.

Mortgage interest rates

If you can score a lower mortgage rate, you could easily save yourself thousands of dollars over the years.

If you’re looking for something complex and long-term, like a mortgage, make sure you don’t take the first offer and remember that there’s still room for negotiation.

Lenders may count on you taking the easiest route because you feel overwhelmed, behavior researcher Samantha Lamas told the Wall Street Journal. But looking around pays off.

According to research by Freddy Macborrowers who applied to two different lenders last year lowered their mortgage rates by an average of 20 basis points.

This means households could have saved as much as $600 a year during the high interest rates of October and November 2022.

Financial advisors recommend comparing three to five lenders, including a credit union.

It’s important to know that questions about mortgages can affect your credit score, as lenders will do a hard credit check before deciding whether to approve you, which will affect your score.

But all mortgage loan applications within a 45-day period count as one application, so if you shop within this period you can minimize how much your score drops, Rocket Mortgage’s Bill Banfield told the Wall Street Journal.

Once you’ve chosen the two best offers, feel free to play the lenders off against each other to get the best deal.

Hotel room

Getting a bargain on a hotel room is one of the best ways to save money on a vacation.

Before booking a stay, make sure you call the hotel and speak to them directly to try and negotiate a better price rather than simply accepting the initial offer online.

It’s worth checking to see if they offer a discount for AAA or AARP members, or if the hotel can offer you a free breakfast or free parking or discounted breakfast.

A lesser-known hidden cost worth looking out for when you pay your bill at the end of your stay is the so-called “resort fee.”

Sometimes referred to as amenity fees, destination fees, facility fees, or resort fees, these were originally introduced to justify luxury amenities associated with a room such as a pool, but are now often tacked onto rooms that are not resort-like in any. way.

According to analysis of US hotels by personal finance website NerdWalletthe average resort fee was more than $42 per night — or about 11 percent of the room’s nightly cost.

If this fee was not stated when you booked the room, you can request that it be removed from your bill.

Car

Buying a car is probably one of the most expensive purchases a family will make – so it’s worth negotiating with the dealer.

According to dealers and auto brokers, it’s important to be flexible about what kind of car you’re willing to buy, rather than set your sights on a particular color or model, to get the best deal.

Before actually visiting the dealership, do extensive research into vehicle prices online and be prepared with the right numbers in mind.

Remember to always be polite to the seller. “One of the mistakes people make is showing up at the dealership with the boxing gloves on, ready to go into battle,” says Tom McParland, who runs a consulting firm where he helps customers buy cars. Wall Street Journal.

Mobile and internet

The number one rule when it comes to haggling with your telecom provider is to pick up the phone. With just a few phone calls, you can probably save yourself hundreds of dollars in annual costs.

If your telephone or Wi-Fi subscription ends, you can switch providers, but you can also negotiate with your current provider.

Familiarize yourself with your plan so you aren’t tempted to buy unnecessary features. If you find there are add-ons to your plan that you don’t need, make sure they aren’t included in your new plan. You can also save a lot with this.

Call your provider and tell them you’re thinking about switching. Suppose you want to pay as little as possible and ask what they can do for you.

The best deals are often not advertised online and are only available to people who call and ask.

Medical bills

Many people don’t realize that you can haggle your medical bills, but you can question medical bills and ask for cheaper prescriptions.

If you are offered an overpriced prescription, ask your doctor right away if a cheaper alternative is available.

When you receive a charge, ask for an itemized bill so you can easily see if you made a mistake or overcharged.

According to a 2022 healthcare debt survey from the nonprofit Kaiser Family Foundation, nearly half of adults who received a medical or dental bill that they believed contained an error successfully resolved the disputed bill with their medical healthcare provider or insurer.

Household items

According to a study by Consumer Reports60 percent of people who tried to haggle on their mattress were successful — saving an average of $245 on the purchase.

The same goes for furniture, such as beds and sofas.

However, before you start haggling, make sure you have in mind what you’re interested in, what you’re willing to pay, and what the going price is for certain items.

Shop around online and be polite and flexible with the representative when speaking to a representative on the sales floor.

Health club memberships

Gym memberships can be one of the most expensive monthly expenses, so it can help to negotiate the price.

Waiting to sign up until the end of the month can help. For example, if you sign up at the end of December, gyms compete against each other to recruit as many new gym members as possible before the new year, so you end up getting a better deal.

Many fitness clubs offer a month or week free trial before committing, which is a good way to feel if the gym is right for you.

Even if a specific deal or sale, such as for a cheaper family membership, is over, don’t hesitate to ask if they can still offer you an expired deal. Or try asking if they can waive registration fees.

Often companies can be convinced if they have monthly or yearly goals they need to meet.