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7 Effective Negotiation Techniques

DirectAxis people

Negotiating the best deal

Some people find it easy to ask for discount, while for others it can be a little intimidating. DirectAxis has researched seven negotiation techniques that will help you secure the best price possible:

  • Do your homework before you even enter into negotiations. If you can tell the seller that the item is available elsewhere for less, it can encourage them to lower their offer.
  • Find out if the seller is up against a deadline. If they are, chances are you can push for a better deal.
  • Find out why an item is for sale. For example, someone who is moving to another country may accept a low offer for a large piece of furniture, just to be rid of it.
  • Listen, actively. Keep an open mind and hear exactly what the seller is saying. While the price may be non-negotiable, perhaps the terms around the deal are.
  • The power of silence. When the seller names a price, don’t say a word. In an effort to fill the uncomfortable silence, the seller may inadvertently show their hand and give you a clue on how best to leverage the deal.
  • Ask for extras. If you don’t feel you are winning on price, start talking about accessories to make up the difference.
  • Walk away. This is the most powerful negotiating tool you have. In this economy, very few businesses can afford to lose a sale. However, if the seller has a product that you can’t get elsewhere, this technique won’t work. Know your facts first.

Wishing you many successful deals.

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Loan repayment terms range from 24 to 72 months. The maximum interest rate with regards to a DirectAxis Personal Loan is 27.75% per annum (compounded monthly). Your rate and initiation fee will be determined according to your personal risk profile.
An illustrative example of a loan at an interest rate of 27.75% per annum would be: Loan amount R50 000 plus a once-off initiation fee of R1 197.00 and a monthly admin fee of R68.40, over 72 months.
The total cost of the loan will be R 110 529.68 which is an Annual Percentage Rate (APR) of 30.95%.