Are we a nation of hagglers?

ARE WE A NATION OF HAGGLERS? ** Haggling, you either love it or you loathe it, but the fact remains everyone likes getting a better deal. We surveyed 400 Australians to find out how we fare as a nation of hagglers. What are we most likely to haggle over, how does it make us feel to who does the haggling? HOW HAGGLING MAKES US FEEL We're pretty evenly divided into two camps, those that love the excitement of a good haggle WHO DOES THE HAGGLING? 49% of men negotiate often, compared to just and those that dread it. 27% of women. 39% 35% 28% of women rarely or never negotiate compared to 10% of men. Confident Uncomfortable OUR FAVOURITE HAGGLES We're TWO TIMES more likely to negotiate over buying a property than negotiating on our home loan. U79% 72% 57.3% T34.4% 29.2% Big ticket items for home Car Buying property Payrise Getting a home loan WHO ARE OUR BIGGEST AND BEST HAGGLERS? Boomers more than any other generation say they often haggle over price. compared with 53% 29% 39% of Gen Y 37% of boomers say they are good negotiators 27% BalxlYl Gen Y are less confident in their negotiating ability compared with boomers and Gen X. HOW TO HAGGLE YOUR HOME LOAN Talk about the competitor's price. Tell the lender what rates you can get elsewhere and make it clear that theyl have to do better to get your business. Did you know? Just a 1% difference in interest rate could save you as much as $2200 in monthly repayments" or Don't accept your first offer. Banks tend to reserve their biggest discounts for the toughest customers. $55,000 over your home loan? Increase your bargaining power. Offer to bring other business to the bank, such as your life insurance, credit card or financial planning needs. Be flexible. Don't limit yourself to rate haggling. Push for discounts or waivers on application and ongoing fees. Convince the bank that time is running out. Be prepared to bluff about walking away. Banks need to know you're serious to give you the best deal. mozo All data sourced from mozo.com.au Data correct as at 3-12-12 your money info zone