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Monday Morning Money Minute

Posted by Mark Matney of Holcomb Law, PC Newport News, VA

Monday Morning Money Minute

Caveat emptor – Let the Buyer Beware, Part 2. The second way to avoid debt for a major purchase is to negotiate and look for a deal. Some suggestions: Stores run specials for every major holiday, so wait for the sales. Use the internet to search prices and make stores honor their promotions to “match or beat any competitor’s price.” Ask about open box or floor model discounts. Take cash - show that you are ready to buy but also ready to pass if the deal is not right. Ask for extras, such as free installation, upgrades, or warranties.

One example: After negotiating for an extended period of time for the purchase of a van, the dealer still did not meet our number, so we left. The same sales rep was working at a different location we visited and, knowing we would walk away if we did not get the deal we wanted, he arranged a better price and a longer warranty so he could close the sale.