Whether you’re buying a house or a new gadget, shopping around is always recommended. How you shop around for any particular item makes the difference, however, not only in terms of the price you get, but also in the quality, customer service, after-sale service, etc.
That is why when you’re beginning your shopping-around endeavours, you must make sure that are not focused on one area only. Having all of these aspects in mind can help you define a good deal.
To achieve this goal, keep the following points in mind.
Options
Your shopping around must consider a variety of providers, services and products. If you only visit vendors or sellers who provide similar products and services, you’re not really shopping around. You may find small differences that don’t really distinguish one from the other.
Think outside the box and find what alternatives are there for the first choice. For example, if you’re looking for a standard mortgage loan, check with the large banks, but also do visit smaller shops, local banks and independent lenders to see what they offer. The knowledge you accumulate by finding the alternatives can help you with your negotiation of terms and conditions regardless to which option you end up taking.
Overall package
As mentioned, price isn’t everything. You could get a cheaper price or rate only to find out that the retailer or the vendor doesn’t provide after-sale service or has a terrible record when it comes to meeting warranty complaints.
The more you check reviews that are not limited to the product but also to the seller, the more likely you will be able to make an informed decision that could save you a lot of money down the road. Don’t be lured by a cheap rate, which could be a sign of a knock-off product or poor quality and service.
Shop online
Even if some sellers online are not available on your area, shopping online can help you with two major points. First, you will be to review the exact model of the product you’re looking for. Remember, if you’re shopping for a television, a gadget, etc, the alphabet soup that makes for the model number means a lot. An older-product may be cheaper simply because it is — yes, old — and less advanced in design and functionality compared to what is available now. Online reviews could help you know exactly the pros and cons of the exact item that you’re looking for.
Second, shopping online offers alternatives. In many sincere reviews written by actual people, comparisons are provided. These could help you greatly when you’re making your decision. They also give you alternatives that you might immediately think of if you’re restricted to local stores with limited selections. Once you get options, you can investigate them for price, quality, etc.
Subtle negotiation
When you’re shopping around, you may be taken sometimes as an unserious buyer, but some salespeople may see that you know what you’re doing — especially after your knowledge builds up and you begin to ask smart questions. Knowing that you’re serious about your purchase decision to the extent that you’re putting time and effort in the decision, they may try to lure you by a discount or a special offer.
Even if that doesn’t materialise, you may be able to get a better deal in terms of getting a product that you really want within your price range. Knowledge is your best ally here. The more questions you ask — regardless to whether you’re talking about a loan’s terms, a computer’s specifications, or a rental apartment’s features, the more likely you will be able to find areas that help you either get a better deal or an alternative that is worth your money.
The writer, a former Gulf News Business Features Editor, is a Seattle-based editor.
