Tuesday, 4 February 2014

The Art of Negotiation

How to inspect a second hand car, how to barter, money saving tips

Ever since I've passed my driving test last Summer, we have been trying to find me my first car, which wasn't an easy job as both me and my hubby have our own priorities when it comes to cars, and there was a lot of compromises (necessary ones of course) to be made! During this time, WeBuyAnyCar.com offered me an opportunity to meet some experts who gave me valuable tips on how to check a car out when buying, and how to negotiate for a better price through their Negotiation Academy.

The Academy was split into 4 sessions:

Body Language and Confidence
- Dr Sandy Mann who's a specialist in social psychology has told us with great humor that "Never Ask Never Get" and that if you do ask, you might just get something that you never thought you'll get! She also went through the retailers' 6 Law of Influence we should resist, including scarcity (limited time or limited quantity offer), Reciprocity (Buy 2 Get 1 Free deals), Authority, Liking, Social Proof (trends), and Commitment & Consistency (Be cool and dont show that you are commited to buy even if you love it to bits and must have it)

Spot Retailers' Tricks and Treats
- Retail expert and Visiting Teaching Fellow at Manchester Business School Tarlok Teji gave us 10 tips to barter better, including the Contract Law - Invited to Treat, which means that we have the right to barter for a better deal. However, retailers also have the right to say no. He also pointed out that a typical offer is between 10-20% off and we should always barter for big items. Just speak to the manager (if the sales person won't give in)!

Financial Advice
Independent finance advisor Martin Chimes taught us how to get the best deal on big ticket items. Stick to the product you know best to buy instead of accepting what the retailers are offering you (research first), and get finance options from a third party!

How to Inspect a Car
31 years experience mechanic Richard Evans used a car to show us how to inspect a car. Always make sure that the car you are inspecting has enough room all around it for you to see clearly (simply ask them to move the car if you can't), check from a distance as well as close up, and look at every corner if you can, including under the car mats!

How to inspect a second hand car, how to barter, money saving tips

I had a fantastic day at the academy meeting my lovely blogger friends, had a lovely lunch, and now I'm equipped with skills good enough to jump queue (just kidding) and barter with a mobile phone company! Let's hope that on the day we have decided on a car, I'll be able to use these skills well and get us a good price!

Disclosure: I was invited to attend an event; all opinions are honest and my own