In some countries, shoppers routinely ask merchants if they can buy a product at a discount, even if no discount is advertised. Many American consumers would call such behavior extraordinary, even tacky. Perhaps, that opinion should change. Consumers have more leverage than they think, especially in an age when brick-and-mortar businesses are fighting online retailers for sales. Shoppers seldom think to ask for volume discounts when they purchase multiples of a product or service, and those older than 50 may be bashful about asking for senior discounts.
Apart from the retail sector, other possible discounts await. CreditCards.com surveyed credit card users and determined that only about 20% had ever asked card issuers about waiving late fees or lessening interest. The good news? Seventy-eight percent of card users who had inquired about a lower interest rate on their cards got one, and 89% of card users who requested that a late fee be waived on their accounts were successful. Discounts on auto insurance are relatively easy to ask for and obtain from insurers; the price of coverage on an existing policy tends to gradually increase with time, and like brick-and-mortar stores and credit card firms, insurance companies prefer keeping customers to searching for new ones.3
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Michael Moffitt is a Registered Representative with and Securities are offered through LPL Financial, Member FINRA/SIPC. Investments advice offered through Advantage Investment Management (AIM), a registered investment advisor. Cornerstone Financial Group and AIM are separate entities from LPL Financial.
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3 – consumeraffairs.com/news/asking-for-a-discount-is-an-effective-way-to-save-money-031516.html [3/15/16]