The Art Of Haggling

A little give-and-take can do a lot of good for your bottom line.

As The Early Show consumer correspondent Susan Koeppen explained Wednesday, in many places around the world, you don't buy anything until you first haggle over the price.

It's not usually like that in the United States, but, she says, it can be, if you want to put in a little extra time and effort.

Koeppen does it herself, so she knows whereof she speaks!

She acknowledges that, while certain things in life are negotiable, of course certain things aren't. But, Koeppen says, taking advantage of the things that are can really pay off in the long run.

If you're just not comfortable asking for a deal or haggling over the price of something, Koeppen tries to make it easier for you with tips she shares on getting a better deal in a few important categories: airlines, rental cars, retail, and buying a new car.

Important keys to success, she says, include being friendly and having patience, because getting the best deal can take some time.

Be really friendly and always smile. They're much more likely to give someone who's super-nice a discount or deal than someone who's confrontational and rude. Also, do your homework! You should be prepared when you go into the situation. Koeppen spends two hours calling ever rental car company at the airport to ensure she's getting the best price. Haggling takes time and energy.

Koeppen's words to the wise:

AIRLINES

While you can't haggle over ticket prices, one thing you can try for is called "status matching." It's the practice that some airlines use to award elite status in their travel program if you show you have elite status with another carrier. Airlines differ, but many have a program like this. So, for example, American Airlines will match or may even raise your status if you show them that, with United, you have elite status.

Airlines don't advertise these programs, so you need to call their customer service departments and find out what program they offer and what they need from you to get your status bumped up. Most require a short letter explaining why you want the status and proof that you're a member in the competitor's program.

Airlines want your business, so they figure, if they grant you elite status (like you have on that other airline), you'll be just as likely to check with them when you need to fly somewhere.

RENTAL CARS

Always call the car rental company on the phone and talk to a live person, and never take the first quote. You need to ask for discounts for being a members of organizations such as AAA, AARP, and Sam's Club. Even flying a certain airline can get you a discount. Once you do that, ask, "Can you do me even one better?" Koeppen has gotten $100 off that way, and by just being really friendly and appreciative.

Another approach is asking for a free upgrade when you get to the counter - companies are often looking for people to take cars other than what they reserved. So, if they notice that they're getting low on a certain level of car, they may actually give you a free upgrade if you remember to ask.

Frequently, you'll find yourself at the rental counter, and the attendant will ask you if you'd like to upgrade your car. Always decline the upgrade because the company probably doesn't have the level of car you reserved and needs to upgrade you regardless, based on availability. They will first try to get you to pay for the upgrade and, once you turn it down, they'll have no choice but to give you that car for the rate you reserved.

RETAIL

Did you ever buy something at full-price, then see it on sale the next week? Well, at Gap, Old Navy, and Banana Republic, they have a great price adjustment policy: If you see something has gone on sale, you can return to the store within 14 days of the initial purchase, and they'll adjust the price to the sale price and give you the difference. You can also do it with online purchases, up to two weeks after you placed the order.

Kohl's, Ann Taylor, Macy's, Target, and Victoria's Secret, among many others, have similar policies. So, be sure to check your favorite retailers' Web sites for their individual policies.

Another way to save a few dollars is, if you find, say, a sweater you love, but the only one in your size has a rip in the collar, don't hesitate to ask the salesperson for a discount. If you know it's an easy fix for you and you really want the item, ask for 10-20 percent off. Retailers are looking to get rid of the product, and since there's a chance no one else will buy it, they're likely to take you up on your offer.

NEW CARS

There are many different theories out there about timing when it comes to buying a car but, according to Kelly Blue Book, the best times are the last days of months and the end of the year - at those times, you're more likely to get the price knocked down after you haggle. Dealers have sales numbers they need to reach by the end of the month and year. So if they're approaching that point and haven't reached their goals, they're likely to cut you a deal. For example, if you go on the first Tuesday of the month, they'd be less likely to budge, because they have all month to meet their quotas. It's obviously not an exact science, and varies from dealership to dealership, but it's a good thing to keep in mind if you're flexible about your deadline for buying a new car.