Negotiating tips: How to get better prices with these expert recommendations

CHICAGO (WLS) -- No one wants to spend more on something than they have to.

Check out these expert recommendations on how to beat those higher prices and overall inflation.

According to the Consumer Price Index, 80% of last month's price increases have been traced to new and used cars, lodging, and transportation services.

The Shapiro Negotiations Institute has tips on getting better prices:

  • Make sure to do your research and see if any other items are on the market similar to the one you're looking to purchase or rent.

  • Build a relationship with the other party, whether you're buying a used car from a salesman or a private owner, small talk is important to improve communication.

  • Try throwing out a mid-range price lower than the price listed on cars, transportation services or lodging and see how they respond.

  • Lastly, remember to ask about discounts, coupons, promotions or incentive programs that you may qualify for. You might also find out there's a cash discount if paid in full.
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