How to save money when you make big purchases

If you're dawdling about a dryer, tentative about a TV, or cautious about a car, you need to read these tips to make spending big feel more manageable.

By  Citro Team

Are you tired of staring wistfully at all the items in your shopping cart, knowing they're just out of reach? Maybe you've been dreaming of upgrading the furniture in your living room or finally booking that trip to Bali, but the price tag is enough to stop you in your tracks. It's easy to get discouraged when faced with the prospect of a big purchase, but there's no need to give up on your dreams just yet.

There are some tried-and-tested ways to save money on big purchases and get the best possible deal along the way. So if you're ready to make your wallet and your dreams align, let's dive in!

Buy second hand

When it comes to big purchases like furniture, electronics and appliances, buying secondhand can be a game-changer. In some cases, you could save up to 50% off the original retail price on a gently used couch or get a great deal on a pre-owned refrigerator that still works like new. Plus, you can often find unique and vintage items that add character to your home.

Start by doing some research to get an idea of the item's worth so that you can negotiate a fair price. Check out online marketplaces like Gumtree, Facebook Marketplace, and eBay, where you can find a wide variety of items for sale in your area.

Of course, don't forget the biggest second-hand cost saver of all: buying your next car. Here are 5 ways you can save money on that particular purchase.

Abandon your cart

When it comes to shopping online, many stores use cart-abandonment sale tactics. This is when shoppers add items to their online cart but don’t complete the checkout process. To encourage customers to come back and make a purchase, stores will send out emails offering discounts or other incentives if they return within a certain time period.

Taking advantage of these offers can help you save money on big purchases that you were already planning on making.

To make the most of these tactics, make sure to accumulate whatever you want to buy in your shopping cart, start the checkout process by leaving your email address and then simply walk away! You’ll likely receive an email with a discount coupon code in your inbox within a day or two.

Use your Citro Card

It goes without saying that an excellent way to put money back into your pocket is to use your Citro Card to make purchases like flights, holidays, mobile and internet and other big-ticket items. Check out the Offers tab on the Citro app for all the latest deals.

Negotiate in-store

When shopping in a physical store, negotiating can be a great way to save money on big purchases. Larger stores like The Good Guys, JB Hi Fi and Harvey Norman are very open to negotiations on big ticket items like fridges, TVs and washing machines, so make sure to ask if they can give you a discount on the listed price. Don't forget to ask at smaller, local retailers -- they are often surprisingly competitive on price.

If possible, try to establish a relationship with the staff at your local store as they might be more willing to work with you if they have come to know you over time. When talking prices always remember: stay polite yet firm while also being open-minded enough consider their counter-offers too (it's all about finding 'middle ground' basically).

Ask for an add-on

Even if you can't negotiate a better deal, many retailers will be open to adding some 'extras' your purchase to sweeten the price. This might be a free blender when you purchase your dishwasher, or vouchers for laundry powder with a washing machine. Other options are free installation or delivery or an upgrade. It's worth asking if your salesperson has anything to offer.

Go to stores that price match

Price matching is when stores match or beat the prices of their competitors in order to secure sales. This practice is becoming more and more popular as retailers look for ways to stand out in an increasingly competitive market. While Jetstar promises to beat competing offers by 10%, stores like David Jones and The Good Guys have long-standing price matching offers.

Check out CHOICE's list of Aussie retailers who have price-matching and price-beating offers.

Swap old items for new ones

Another way to save money when shopping for larger items is by taking advantage of trade-in programs. Many stores offer discounts on new merchandise if you bring in an old item that they can resell or use as a part of their promotional activities. Trading in your old electronics, furniture, or appliances can mean big savings on the purchase of something new. Before trading in any item, just make sure to research its value so that you know how much credit you should be receiving.

Some Aussie stores that offer trade-in programs are JB Hi Fi, The Good Guys, Microsoft, Apple, Telstra, Samsung, Drummond Golf and EB Games.

Buy at the right time

Most salespeople have sales targets they are looking to meet at the end of the week or month, so it's worth saving your shopping until these times. The end of the financial year is another opportune time to buy for the same reason.

Always check in with the store to ask if they have an upcoming sale on the item you want to buy. There's nothing worse than seeing an item on sale a week after you bought it.

Naturally, it also pays to look out for big event sales like half-yearly clearances, new year's sales, Black Friday and Cyber Monday and other big sales that are particular to the industry or store you want to purchase from. If you're not sure when the sales are, ask the business to let you know.