Dave Ramsey Chapter 7

what are 3 good places to negotiate?

Estate Sales Garage Sales Flea Markets

It is acceptable to misrepresent the truth in certain circumstances while negotiating. t/f

False

The United States is one of few countries in the world where negotiating for every purchase is a way of life. t/f

False

With which technique will you most likely head, "I have to check with my manager"?

Good guy, bad guy

a technique used frequently by car salespeople when they want to "ask a manager"

Good guy, bad guy

Bargain hunting takes a lot of what?

Patience

It is a myth that these places have stolen goods

Pawn shop

Seven basic rules of negotiating are: always tell the absolute truth, use the power of cash, understand and use "walk away power", shut up, "that's not good enough!', good guy, bad guy and the "if i" take away technique. t/f

True

Silence is one of the most powerful aspects of negotiation. t/f

True

The power of cash is immediate. t/f

True

Using cash is an effective technique in negotiating because cash is visual, emotional, and has immediacy. t/f

True

What is not a characteristic of cash?

Walk away power

where does bidding on items occur

auction

What is paying a lower price for an item called?

bargain

What "thing" is emotional, visual, and has immediacy?

cash

a great place to buy and sell used clothes

consignment shop

The difference between an estate sale and an auction is that an auction is similar to a garage sale and usually the contents of the house are priced and put out for sale. At an estate sale, people bid on the item and the highest bid wins. t/f

false

Fast talking is not one of the three keys to finding a bargain? t/f

true

To win negotiation, you need to gather information about the other side's needs, wants, fears, and passions. t/f

true

What is it called when both parties benefit in negotiations

win-win

when negotiating, what kind of deal should you set up?

win-win

What is bargaining for a lower price called?

negotiating

The ability to leave if you are not satisfied with the price offered is called

walk away power

When negotiating, never:

Misrepresent the truth

Technique used to get something else just before closing a deal

"if i" take away