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How to get a Good Buy in any Market

by Mindy McHorse on March 3, 2009

Making purchases on large items when money is tight can be daunting, especially during a recession. Despite that, it’s not impossible to get a good buy in today’s market. You don’t necessarily have to scrimp and save every extra dollar in order to get what you need. A little smart shopping and planning can go a long way in speeding up your purchase.

If you’d like to get a good buy in today’s market – or any market – follow these tips:

Curb your impulses

The first step to landing a good buy lies in being able to control your impulses. Impulse buying rarely gets you a good deal on big-ticket items, so restrain yourself when it comes to finding and buying what you need. Remind yourself that you’ve been able to live without the item till now, so a little extra waiting won’t hurt you. In fact, it’ll probably help you land a much better deal than you would otherwise.

Know what you want, but be flexible

If you’re shopping for something pricey, get clear on what it is you want. For instance, if you’re in the market for a washing machine, make sure you know exactly what types of features you must have. Does it have to be a front-loader?  Do you absolutely need a “delicates” cycle?  If so, that’s fine. Determine the features on which you’re not willing to compromise.

After you’ve clarified what you want in your purchase, think about the things you’re not partial on. As far as the washing machine goes, maybe you don’t particularly care about the color. Or perhaps you’re not committed to any particular brand. Essentially, at this stage in the shopping cycle it’s important to know where you’re willing to compromise.

Window shop to get familiar with trends

Whether the current market for your purchase is good or bad, you’d be wise to do a little “window shopping” before getting ready to make a purchase. In this case, that means going into stores that feature your item and getting acquainted with prices.

Look at the different versions or what you’re considering. Touch, use, or test-drive anything applicable. If you’re considering buying a motorcycle, take different models out for a spin. If you’re looking at a new refrigerator, open the doors and the inside drawers to test the mechanics of the piece.  If you'd like to buy a home theater, listen to the sound quality in the store.

Visit all the vendors in your area that sell the item you’re considering buying. It’s also a good idea at this point to decide which stores you think are credible sales sources. In addition, look into the return policies for each location and decide which stores offer policies that suit your preference.

View online and paper sales sources

Viewing and testing different models of the item you’re considering for purchase makes it easier to shop from home. The internet and paper ads make it particularly effortless to get a good buy in any market because they easily expand the depth of your search. If you’re familiar enough with an item and you know its average pricing scheme, you’re well equipped to shop using online and paper sources because you’ll easily spot good deals.

Make it a habit to view the classified section of your local newspaper or to browse online auction sites regularly. You never know when a good deal will come up.

Wait for special occasion and off-season sales

If you can hold off on your purchase, try to wait and shop when holidays are near. Most stores will hold holiday-related sales, particularly in the case of appliances and other big-ticket items. Some of the biggest sales take place around Memorial Day and Labor Day, but several other sales will usually occur around other holidays throughout the year.

Another option is to wait until the item is out of season. For instance, barbecues and gas grills will usually be heavily discounted in the fall, after the summer grilling season. Essentially, if you can bring a little patience to your shopping venture, you’re sure to eventually find a good buy.

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