Hagglers can bag big savings
Aussies are more likely to haggle with retailers on whitegoods, home electronics and appliances than big household expenses such as the mortgage, insurance and energy bills, according to Mozo. But they could be missing out on savings of as much as $1600 by not doing so.
“Our analysis shows home loan hagglers could save around 12 times the typical discount from haggling on home appliances over the course of a year,” says Kirsty Lamont, Mozo director. “Unlike the one-off discount you receive on an appliance purchase, haggling across your major household expenses could see you continue to reap savings years into the future.”
Mozo offers these tips for scoring a better deal: Do your research. Comparison sites such as Mozo allow you to get the inside scoop on what competitors are offering. Ensure you can quote these offers at the negotiating table and tell the provider they’ll have to beat the best offer to get your business.
Don’t accept the first offer. Often a provider comes back with a discount straight off the bat - don’t accept this and ask if that’s really the best they can do.
Be prepared to bundle. Move across other products if this will strengthen your negotiating hand.
Don’t limit yourself to haggling on rates. Fee waivers, rewards points and cashback may be some of the things you can also ask your provider for.
Prepare to bluff. Tell your provider you’re willing to walk away so they know you’re serious.