Most people overpay for major purchases. With the right timing and tactics, you can save 10-30% on big-ticket items.
Car Buying Strategy
New Car Negotiation
Best times to buy:
- End of month (dealers have quotas)
- End of quarter (bigger quotas)
- End of year (clearing inventory)
- When new model year arrives (old models discounted)
The process:
- Research invoice price (what dealer paid)
- Email multiple dealers with your exact spec
- Let them compete
- Negotiate from invoice, not MSRP
Pro Tip
Never discuss monthly payment. Negotiate total price first. Then talk financing separately.
Used Car Smart Buys
| Age | Why It Works |
|---|---|
| 2-3 years old | Major depreciation done, still reliable |
| Off-lease | Known maintenance, often certified |
| End of model run | Discounted as new ones arrive |
Skip: 1-year-old cars (still depreciated, not much savings)
Negotiating Everything
What's negotiable (that people don't realize):
- Furniture (20-40% off often available)
- Appliances (especially floor models)
- Medical bills (ask for cash discount or payment plan)
- Cable/internet (threaten to cancel)
- Insurance (shop annually)
- Rent (especially at renewal)
- Cell phone plans (retention offers)
The script: "Is this the best price you can offer? I'm comparing options and trying to make a decision today."
Then: silence. Wait for them to respond.
Timing Your Purchases
Seasonal Discounts
| Item | Best Time to Buy |
|---|---|
| Furniture | January, July |
| Mattresses | May (Memorial Day) |
| Appliances | September-November |
| TVs | Super Bowl week, Black Friday |
| Gym memberships | January, December |
| Outdoor equipment | End of season (September) |
| Vehicles | End of month/quarter/year |
Holiday Sales Worth Waiting For
- Presidents Day: Mattresses, furniture
- Memorial Day: Appliances, grills
- Labor Day: Everything summer-related
- Black Friday: Electronics (but often not best prices)
- Year-end clearance: Everything with models
The Floor Model / Open Box Strategy
Items that work:
- Appliances (scratches don't affect function)
- Furniture (minor damage = major discount)
- TVs and electronics (verify everything works)
- Tools and equipment
Discounts: 15-50% off retail
Do This
Always ask: "Do you have any floor models or open-box items?" Retailers often have them in back but don't advertise.
Credit Card Perks for Big Purchases
| Feature | What It Does |
|---|---|
| Purchase protection | Covers damage/theft (90-120 days) |
| Extended warranty | Adds 1-2 years beyond manufacturer |
| Price protection | Refund if price drops |
| Return protection | Extends return window |
| Rewards | 1-5% back on large purchases |
Check your card's benefits before major purchases. Amex, Chase, and Citi have strong protections.
When NOT to Negotiate/Wait
Avoid This
- Safety items you need now
- Items at already-discounted prices (Costco, outlet stores)
- Limited edition or high-demand items
- When your time is more valuable than savings
The Big Purchase Checklist
Do This
Before any purchase over $500:
- Wait 48 hours (impulse check)
- Research fair price online
- Check for floor models/open box
- Ask for discounts
- Time the purchase if possible
- Use a credit card with good benefits
- Keep all receipts and documentation
Quick Win
Your next big purchase: start by emailing 3 competitors for quotes. Let them know you're shopping around. Watch prices drop.