Cash Is King

By Lynda Dmoch

I bet you have heard this line before. Cash is King.

Cash is one of the most valuable tools you can have in your toolbox when on the hunt for a good deal. The word "cash" is like music to a merchant's ear. Why? Cash means instant payment for the merchant. No hassle profit for their business.

Most merchants take credit cards, however some merchants would prefer not dealing with credit cards at all. These merchants will let you know this by suggesting you pay cash and in turn they will give you a better price. They see cold, hard cash and the "bargain" juices start flowing. What a great position for you to be in as the customer! Use this to your advantage. You never know what the merchant is willing to do for you as long as you hand over the cash in the end.

Handing over your cash for payment simply means "money in the bank" or "cash in the pocket" for them. It sure beats having to wait for their money from the credit card company. Who knows how long some of these credit card companies make the merchant wait for their money. I do know it's long enough though, or else "cash" wouldn't carry so much weight in the "haggle" process.

Now having the advantage of paying for your item in cash is great, but be careful not to lose that advantage. You cannot and should not let the merchant know upfront that you are willing and able to pay cash for your item. This is to be your little secret until just the right moment. Keep the haggle process going as long as possible. Knowing when to dangle the "cash carrot" is key.

You and the merchant arrive at an agreeable "meeting of the minds" price and you both are feeling good about the deal. That is the time to "strike" with your cash bomb! You pose one final question for the merchant. You ask the merchant what he/she can do for you if you pay for the item in full IN CASH. As you are asking that question you end your sentence with the actual cash in your hand, out of your pocket and in direct view of the merchant. THEN DON'T SAY ANOTHER WORD. This is very important. Do not say another word. Let the cash speak for itself. Almost every merchant will come back with some offer to clinch the deal. It's up to you to decide if you're willing to accept their offer and hand over the cash. Chances are you will walk out with an even better price or some extra accessory as a freebie. You have your item, merchant has their cash, and all is well in the haggle world.

If you're haggling for a big ticket item, such as a TV, washer or dryer or electronic equipment, your cash will be even more valuable in the haggle process. Don't sweat it if you don't have the full asking price in cash, even paying cash for half the item price can still get you some leverage. Remember, the bigger the ticket item, the more weight your cash will carry.

Have a question about a haggle disaster or an upcoming haggle? I'd love to hear about it! Shoot me an e-mail at contact@mywherehaus.com and together we can hone your skills and come out winning!

Lynda Dmoch is a self starter and entrepreneur who learns by doing. She started an on-line garage sale website to bring the garage sale to you, into your home, 24/7. She applies her motto of "read, research and apply" to her website on a daily basis. And when she is not doing that, her favorite past time is practicing the art of the haggle and honing her skills.
http://mywherehaus.com

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