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It’s O.K. To Negotiate, It’ll Save You Money

Here are 6 things that you should negotiate on.  I’ll be honest with you, I didn’t think you could negotiate the price on some of these items.  Think about the money you could save.

#1.)  Credit Card Rates. After the economy tanked in 2008, and the credit card reform bill went into effect in February of last year, it was a lot harder to get a good rate on a new credit card.

–But in the third quarter of last year, 1.2 billion credit card offers were mailed out, which is three times the number sent out in the third quarter of 2009.

–And since there’s more competition now, credit card companies are more likely to give you a better rate, because they want your business.  All you have to do is say you have another offer at a lower rate, and ask them to beat it.

–According to a study done a few years ago by the U.S. Public Interest Research Group, more than half of the people who ask for a lower rate get one.  And their average APR drops from 16% to 10.5%.



#2.)  Mortgage Rates. Mortgage lending is a lot harder than it used to be, so lenders are more willing to reduce certain fees, or even waive them completely.

–So the best thing to do is compare the rates at a few different mortgage lenders, then ask each one to beat the best price you found.  And you can spend less out-of-pocket money if you ask for discounts on all the fees they make you pay up front.



#3.)  Home Improvements. According to the executive director of Consumer Reports, business is still slow for contractors, and they’re willing to do more work for less money.

–In a survey done last year, 80% of contractors said they were willing to lower their prices to get a job, compared to 43% in 2008.  Of that 80%, half were willing to drop their prices by 10%, and almost one-quarter said they’d drop prices by 20%.




Frank Polich/Getty Images

#4.)  Major Appliances.According to a study by Consumer Reports, 75% of shoppers get a better deal if they negotiate the price on appliances, and the average savings is around $100 per appliance.

–But don’t go in the middle of the day when it’s busy.  If other customers can overhear you, the manager is less likely to offer a good deal because he’d have to offer it to everyone else who asked too.

–And if they won’t budge on the price, you can still negotiate a better deal by asking for free delivery.



#5.)  Medical Tests and Procedures. The price varies depending on where you go.  For example, a recent study revealed that having an MRI done on your knee in Washington D.C. costs between $400 and $1,500 depending on where you go.

–And if you know what one hospital charges, you can use that to negotiate a better deal with another hospital.  Sometimes, you can save 50%.



#6.)  New Cars. Negotiating the price of a car isn’t just acceptable, it’s expected.  And you can save over a thousand dollars on a new car if you do it right.

–All you have to do is shop around and find the best deal you can, then ask dealerships to beat it.

–And instead of negotiating down from the sticker price, ask what the INVOICE price is . . . which is the price the dealer paid for it . . . then negotiate UP.  You can find the invoice price for most new cars at the website




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