How do I get the best price on something expensive?

Large purchases are where a small percentage matters most, and where the least effort is usually applied. Price history, timing and simply asking account for most of the available saving.

What you'll need

• A price tracking tool (optional)
• Time before you need it (optional)

Step by step

1. Track the price for a few weeks before buying.Browser extensions and price history sites show whether a sale price is genuinely low. Many advertised reductions are from an inflated reference price.
2. Know the model number and compare exactly.Retailers often stock slightly different model variants that cannot be compared directly. The exact model number is what makes comparison meaningful.
3. Ask whether they can do better.Particularly in a physical shop, on ex-display items, or when buying more than one thing. It costs nothing and it works more often than people expect.
4. Ask for extras rather than a discount.Delivery, installation, an extended warranty, accessories. Staff often have more latitude on these than on price.
5. Consider ex-display, refurbished and last year's model.Frequently a substantial discount for something functionally identical. Check the warranty terms on refurbished items.
6. Time it where the market has a pattern.New model releases, end of financial quarters, seasonal sales. It varies by category but the patterns are usually well known.
7. Pay by credit card where it adds protection.In many countries card purchases above a threshold make the provider jointly liable if something goes wrong. It costs nothing if you clear the balance.
8. Be sceptical of extended warranties.They are high-margin products and statutory rights often cover much of what they offer. Read what they actually add before buying.

Tips

• Ex-display items are often the same product with a scratch on a panel you cannot see once installed. Ask what the marked-down reason actually is.
• Check whether the retailer will price match. Many do, and it saves shopping around after you have decided where to buy.
• For anything installed — appliances, flooring, windows — the quality of installation matters as much as the price. The cheapest quote is not always cheapest overall.

Common mistakes

• Buying in a sale without checking price history — Many sale prices are reductions from an inflated reference price. Price tracking shows whether it is genuinely low.
• Not asking for a better price — It costs nothing and frequently works, particularly in physical shops and on high-margin items. Most people never ask.
• Buying an extended warranty automatically — They are high-margin and statutory rights often cover much of the same ground. Read what it adds before paying for it.

Questions people ask