How to haggle your way to a good deal

Here are some top tips to help you 'pay less for more.'

1. Do your research: Research the products and outlets: scour the internet, read magazines and newspapers. Try not to set your heart on a product – the likelihood is you will find a more appropriate one in your investigation and improve on the original price.

2. List your must-haves and nice-to-haves: For example, if buying a fridge freezer, your must-haves could include; size. Is energy-efficiency important to you? What about price? Perhaps your nice-to-haves are a chilled water dispenser and a larger fridge than freezer.

3. Have three outcomes in mind:
Ideal – a great deal for you.
Good – a decent reduction and/or added value.
Acceptable – if you don't achieve this then you will walk-away and go to your next choice.

4. Speak to a decision maker. Perhaps the owner, store manager or senior salesperson, but there is no point in negotiating with the cleaner!

5. Use your prepared information to your advantage: What can you say that will help motivate the salesperson to reducing the price? For example, can you use competitive information to get you a better deal? A salesperson is motivated by selling their product rather than seeing you go to another store. The price on the internet may be £400 and in the shop £450. Say you have seen the same machine on offer for £400, but would be happy to buy now if they sell it to you for £370 including delivery.

6. Don't give away 'buying signals': Don't say that your freezer had just packed up; this is ringing hundred pound notes in front of salespeoples eyes as they know your frozen chicken is about to thaw!

7. Practice makes perfect – opportunities occur all the time – from buying your MP3 player to arranging that luxury trip away with your partner. If you make negotiating a habit, it will become instinctive and above all, save you tons of money!

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From mobile phone and broadband companies to credit-card providers, firms are increasingly willing to haggle with customers looking to secure discounts and cut living costs.

With a recession looming and shoppers tightening their belts, stores are bowing to pressure to negotiate discounts.

Last week, the European Commission became the latest authority to declare Britain on the brink of a recession, and the retailer John Lewis reported plunging sales as the middle classes trade down to cheaper outlets such as Lidl and Aldi.

Sunday Times readers and users of online consumer forums boast they are saving hundreds of pounds a year on mobile phone and broadband contracts — simply by asking.

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