In today’s world, we have many options for shopping such as online, in a mall or door-to-door sale. This article is meant for the people who many time regret paying for items which they don’t need but couldn’t resist due to ongoing discount or cashback offers. Also, people like to buy a product on finance. This article will help people like me, who always want to know the magic behind the 0% interest on EMI. Smart Buyer?
In this article we will share our experiences and tips to curb our desire to buy heavily discounted offers, which we may not require. Also, how to bargain on already discounted offer. There are always certain pros and cons of buying items online or from bricks and wall system. But as a buyer, we always have choices and freedom to spend our money.
Avoid shopping during later days of season sale.
Before buying discounted offer, check the offer detail, whether it is a clearance offer like monsoon or end of season sale or limited time promotional offer. If it is a clearance sale, then do not waste time going to malls and standing in a long queue when it is the third or fourth day of the sale. In short all best items will be sold out on day one. The issues faced during such sales are unavailable sizes and damaged products as many people use the same item for trials (mostly fashionable) which are left unchecked by the sales people. Note: Always check the return or exchange policy during the sale, as heavily discounted sale does not guarantee any exchange. The fashion retail like shoppers stop extends early season sale discount to its customers possessing first citizen card, hence most of the items are sold out before the start of the sale.
The Magic behind 0% interest on EMI and how to bargain with dealers.
Now a days, many lending companies provide 0% easy finance options and unfortunately there is no magic. All these finance companies also provide finance to manufacturers and dealers, hence their profit is already covered in the product selling price, which is known as subvention money. Now you have choices, whether to pay the full product price or buy it on EMI with initial down-payment. If you have money, then ask the dealer to give discount on full payment mode or tell him that you want to buy a product on the same day with full payment. This trick works most of the time as dealer knows that you will get the best price for the same product or similar brand without finance elsewhere. Note: The finance option is generally available on product price above 7K or 10K. Also, don’t forget to ask the dealer about processing or file handling fee (if any). And don’t get trapped in extended warranty or insurance schemes.
Investigate the items, which are more than 6 months old.
When we buy any food item from the supermarket, we always check the manufacturing date or import date. This can be also checked for electronic items, cars and apparels. In such cases more chances of niggles that creep in due to long periods of storage. To reduce the shopping time first thing is select the product you desire, check the price tag, manufacturing date and then brand name. In online shopping where it is impossible to check item before it delivered, you are still safe with easy return and replacement policies.
Card, internet banking or wallet offers are good for pockets.
This is win-win situation for the bank and customers. If you find offer like cashback or gift cards on your card, then this could be the best deal for buying fresh stocks. But before buying on cards carefully read terms and conditions. Always check for applicable products, end date and maximum discount on minimum purchase details.
Don’t be fooled by catchy brand names.
Today, every retailer has their in house brand e.g. amazon has amazon basics, reliance digital has reconnect and Tata croma has its own croma brand products. In many cases the retailer tie up with Chinese manufacturer (usually ships with bare minimum quality check) to have products for the lower price segment. You might get extended warranty, but also pain to find a service center or waiting for the item to be replaced or repaired.
Tips for savings
1. Always compare product prices from various sources like online or nearest dealer.
2. In case of electronic item, home appliances or software, inquire for latest releases or software upgrades.
3. Don’t buy an item which imitates the original brand product, as many cases built in quality of such product is fragile and only last for a month or a week.
4. Buy products on EMI on jaw-dropping or never-before sale and you don’t have enough savings for full down-payment.
5. Always search for online deals and coupons. Also, don’t forget to check online available price.
6. Inquire about the brands, as nowadays every online retailer has in house brand with jazzy name.
7. If you find a promotional offer for the item you want to buy then go for it. I had bought a Bose soundlink mini on 10% discount with additional 10% cashback offer on my credit card.
8. Credit and Debit card offers are good for the pockets.
9. Inquire for parking tickets, if parking charges can be lessened in your total bill.
P.S., In most of the cases in house brands are good for the pockets, just inquire for the service SLA with the sales person. Buy product on EMI if you want product right away, but you don’t have enough cash to buy it. Always remember buying home on loan and buying a product on credit are two different things, where the cost of the home appreciates with the time but this is not true with the commodities. But there may be the case you want to buy some appliances which may help you in day to day life.