To lure customers on the lookout for big-ticket items like appliances, cars, and even houses, retailers try and entice them with ‘hard to refuse’ offers. With so many offers to choose, how do you know you if have made the right choice? Here are few steps that can help you get the best deal when buying a house, car, or appliance.
USED CARS
Step 1
Fix a financially viable budget and stick to it.
Step 2
Check OLX, online forums for pre-owned cars, newspaper advertisements, or one of the best options, talk to people with multiple cars.
Step 3
Go for expensive or high-end models which see a high depreciation (typically 30% in two years), or popular models that will retain value in secondary market.
Step 4
Don’t buy in a hurry. Keep looking all year round and zero in when you spot a bargain. Keep comparing prices.
Step 5
Inspect the car for paint jobs and repair work and mention it to the owner. If he accepts it, leverage it to lower the price. If not, quote a price that he will not be interested in, and leave.
Step 6
If the car is up to the mark and you are interested, quote a price lower than demanded. Raise the bar only till the point it is within your budget.
NEW CARS
Step 1
Fix the purchase price and do not go beyond it.
Step 2
Go to several dealers, even rivals, to check the prices and discounts. Ideally buy around festive season, before December or financial year-end when you can get the maximum discounts.
Step 3
Approach the dealer who gives the best offer or go back and forth between dealers to play one against the other. This will help you lower the price. Also consider those who can give you good after-sales service.
Step 4
You can avail of at least seven types of discounts from dealers, which they may not reveal. These range from dealer discounts (manufacturer gives a discount or target incentive to dealers) and corporate discounts, to exchange bonus, loyalty discount, discounts on financing and insurance premium, discounts on registration or handling charges, etc. While some may reveal the dealer discount, you can maximise this by bargaining hard.
Step 5
While finalising a deal, ask for freebies or goodies, and avail of cash discounts or credit card schemes.
HOUSES
Step 1
Fix your budget, get loan approval and have the down payment ready. At the same time, be on the outlook for a good deal. House purchase doesn’t happen overnight.
Step 2
While word of mouth works best, you can check portals like MagicBricks, 99Acres, Sulekha, etc, or approach a property agent for resale property. Buying directly from the developer or owner is always advisable.
Step 3
If buying a new house, consider the builder’s track record, location of the property, documentation and other legalities.
Step 4
For good discounts, conduct a thorough research on prices in the area. Get back to the developer if he has quoted a higher price than is the norm in the area.
Step 5
Check if there is unsold inventory and the developer’s financial position is weak. In both cases you can leverage for a high discount. Showing seriousness to make a quick purchase will also earn you a good discount, and so will cash payment. If owners are desperate to sell, the distress sale can also get you a good bargain.
Step 6
Once you are satisfied with the deal, close it quickly.
APPLIANCES
Step 1
Find out about product specification, brands, models and prices by searching on the Internet, with e-retailers and company websites, in newspapers and by talking to the people in the know.
Step 2
Go to 4-5 dealers or shops and understand the prices and discounts they are offering.
Step 3
Pick the shop that offers the best combination of low prices and product features.
Step 4
Bargain hard by quoting a price much lower than the one offered. If the salesperson does not relent, look for other freebies or discounts. If even this doesn’t work and the salesperson doesn’t budge, go to some other dealer.
Step 5
If an agreement is reached, ask for further discount by talking to the shop owner or the manager.
Step 6
While making the payment, avail of cash discounts, credit card or wallet schemes, free EMIs, or any other goodies.
[“Source-economictimes”]
