TODAY

TODAY   |  October 17, 2013

How to haggle discounts on electronics, haircuts, more

Jeff Yeager, the self-proclaimed “Ultimate Cheapskate,” explains how being both candid and nice when talking to the right person at a store is essential to negotiating. He offers advice for talking down the price of electronics, appliances, hotel room and haircuts.

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This content comes from Closed Captioning that was broadcast along with this program.

>> do you dread going to a car dealership because you don't want to haggle over that price ?

>> a lot of people aren't comfortable negotiating them. everything is negotiable, even things you wouldn't normally think to haggle over. jeff is the author of how to retire. i always love when you are hear, you teach us something new and good. let's start off first, you say we should always think of negotiating. it can apply to every situation.

>> unless you are a member of congress.

>> here we go.

>> you have to wait for the political prozac to kick in to create a deal. nice guys finish first. never be a jerk when you negotiate. be polite. be honest.

>> that's not one that people think wins.

>> you got to speak to the right person. oftentimes, frontline employees, that clerk can cut you a better deal.

>> be honest you say, don't be shy.

>> don't lie, don't be shy. in other words, if you have a legitimate complaint, voice it politely to a manager. don't be shy about it.

>> show them the cash. what do you mean about that one?

>> you can do better with cash physically at a mom and pop if you say, here's my money.

>> these are things we are used to negotiating. let's start with a contractor.

>> okay.

>> a contractors for home improvements , get multiple birksdz find out which one you prefer, present that contractor with the lowest bid and say can you match this? to sweeten the deal, offer to schedule at a time when they are less busy.

>> what about new cars?

>> new cars are a tough one. you want to do your homework on advance, go to evans.com or true car.com. physical out what the real cost of that car is. go to the lot. say you want that make and model stripped down, no extras. they're not going to have that one on the lot. they'll have one with the bells and wills. so you can usually talk them down on that price .

>> how about buying or renting?

>> again, a big topic. put your poker face on when buying a new home. don't go around saying i love this i love that. don't start measuring for drapes. suddenly talk and honestly about the things that aren't quite right four about the house. don't insult the homeowner or the house, use that as a basis to come back with a lower offer. it's wrong for me in this way, here's my counteroffer.

>> that's,000 you got to be willing to walk away from a deal sometimes.

>> in some market, you may lose a deal.

>> let's go over some of the things people might not be so used to negotiating for or didn't know you could negotiate for, starting with electronics and appliances.

>> this is a buyer's market, it's easy to get a discount oftentimes the clerk you are talking to is in power to give you something off the price . if you are boying a floor model , of course it will come down. ask them to give that you sale price even if it's not on sale and, two, after talking with the clerk, say, gee, thanks for the information, i'm going to look around. a lot of times they'll stop you before you walk out of that store.

>> this is one i wouldn't think about. i would feel i would be insulting them a little bit. you can negotiate with at the hair salon or the barber's as well.

>> a service industry like this, take it low key , ask them in advance, is there a time of day or day of the week within are you less busy you might be able to give me a better price . we go back to the other rule, don't be shy, don't lie, if you get a cut you don't like, express it to the manager, maybe they will knock something off.

>> my barber is 50 bucks.

>> that's amazing.

>> i got to get his card.

>> i'll give you his name. he's very good. how about a magazine subscription.

>> most magazines make their money off advertisers, not subscribers, they can charge more for advertising. they need you more than you need them. call before the magazine comes up for renewal, say, give me your best price , or i'm going to drop my subscription.

>> here, i love these categories.

>> no way.

>> i can negotiate for that. no way! these are things nobody thinks to negotiate.

>> other than the ultimate cheesecake.

>> exactly. hotel rooms . so when can you really negotiate the price of hotel rooms ?

>> what you want to do is go online before your stay, look what they're charging for nights before or after the pare you are staying. call their guest relation manager and say, hey, i noticed two nights later the room is that much less, can you give me a better deal? also, try to get any discounts they have in place versus government worker discounts tend to be the least expensive. i always cc if i can have that leer rate. they say are you a government worker? i said, no, kind of jokingly, but i'm a tax worker, so i'm a government employer, a lot of times i get a break.

>> how about insurance?

>> talk to your insurance act about a month before the policy is renewed, ask them point blank, how can i reduce my premiums? oftentimes they will reduce your premium. groceries, look for produce that is near the prime. ask the managers if they'll come down on it or give last week's sale price this week.

>> i guess rotten produce is a little keeper.

>> you save money on the haircut?

>> i do. very good.