Shopping Smart: Negotiating Deep Discounts to Improve Your Credit Score

negotiating-discountsWhile not adding any points to your actual score, negotiating discounts on big purchases can provide long-term help to anyone in financial trouble.  Whatever your credit looks like, sometimes you need to make a purchase.  Negotiating discounts means less to pay in the long term, and we have a few tips on how to get good at getting the best deals out there.

Choose Your Battles: Credit Repair Through Large Discounts

Don’t bother negotiating at the supermarket, Wal-Mart, or the corner convenience store. Places like these have set prices and it’s pretty unlikely you’ll get them to budge. Discounts are more likely on big ticket items like cars, expensive one-time services like cleaning or car repair, and monthly service bills like mobile phones and cable packages. If you have any plans to travel, hotel rooms and rental cars can often be negotiated. Search for best fares for air, rail and bus tickets – many carriers offer discounts if you know where to look. Saving on these far more expensive items will help your finances more than milking the supermarket out of a few cents on a dented can of tuna fish. Instead save your strength for big negotiations.

Gathering Your Financial Toolkit

Before going into any negotiations, do your research. Look into average prices for the product or service and get an idea of what you’re willing to pay. Make sure to take into account the merchant’s need for profit. You can’t expect them to take a loss.

Once you know roughly what you want to pay, ask to see a manager. A salesperson probably doesn’t have much sway to give you a discount, so don’t waste their time (or yours) and cut out the middleman. Remember to stay pleasant, never rude. The store has something you want and losing your cool with those who could give it to you won’t do you any favors.

Also, it’s not just who you ask, it’s when you ask. Make sure to go to the establishment at a good time for negotiating. When is that? It’s not when the store is crammed with other customers. Employees will be too busy and frazzled to give you more than minimal attention, and managers don’t want an audience to see them giving discounts. Would you? Do visit during off-peak hours, such as a weekday morning. Everyone will be less stressed and more willing to discuss giving you a great deal.

Most importantly, be willing to walk away, particularly with high-priced items like cars. Leave the merchant your phone number so they can contact you if they’re ready to meet your asking price, and just leave. Sometimes having the loss of a big sale staring them in the face is what a merchant needs to grant a discount.

Ovation Credit Eases Your Finances Even More

Just like we’ve given you the tools to get yourself great discounts, Ovation Credit can give you the tools to improve your credit score so you won’t need discounts (even though you’ll still get them). Call us today to be matched with your personal credit professional and start actively improving your credit score.

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