(WXYZ) — The art of bargaining, or haggling for a cheaper price, is making a triumphant return among rising prices of goods and record inflation.
Granted, you can't really talk down the cost of gas or groceries, but you could have some success in other areas, and I went to find some tried and true bartering methods so you don't waste your money.
Sara Schrade of Royal Oak recently scored a deal on a handbag with a seller on Poshmark.
“I gave her an offer and she declined it. So, I said, 'okay, I'm not interested anymore.' And then she came back and she said, okay," Schrade said.
But, when it comes to rent, cars and contract work, Brian Martucci, the finance editor at MoneyCrashers.com, said you have to be realistic when it comes to haggling down prices.
His advice when it comes to used cars is to consider a private party transaction.
"They don't have the same responsibility as the dealer does to make a profit. So, often they'll be willing to accept less than you paid a dealer," he said.
Also, research pricing and compare the trade-in value with the typical retail price in your area. That becomes your realistic negotiating range.
Also, check the vehicle's history, and adjust your opening bid down to account for any issues you find.
For negotiating on new cars, check how well the model holds its value. Martucci said it if doesn't hold as well, offer less.
Also, focus on the out-the-door price, which includes taxes, fees, downpayment and financing, as opposed to the monthly payment price. And, don't agree to any extras.
”No one really gets value out of those. They're just a way for dealers to get more money from you upfront," he said.
For rent, signing a longer lease should get you a discount, and offer to do the work that the property manager would normally do, like painting. Also, ask about referral bonuses for new tenants.
"They want as few vacancies as possible because they lose money on every vacancy," Martucci said.
For service or contract work, schedule for the slow season if possible, like getting a furnace tune-up in the summer.
Get at least three quotes, and ask each contractor to match the low bid, and don't reveal your budget before negotiating a price and signing.
Martucci said a better response is to say you want a fair price, and that puts the ball back in their court.
He had several other tips for haggling on contract work: Pay as little as possible up front, offer to pay for the materials yourself if they let you, and don't allow free advertising in your yard with their company signs unless you get a discount.
