How a few minutes of work saved me big bucks

I have a love-hate relationship with price-matching policies. I generally view them skeptically, because they always sound better than they actually are. From a marketing perspective, they give merchants the ability to look like good guys. In reality, though, the policies often contain so much fine print to that it can be hard to cash in. Nevertheless, I’m oddly attracted to them because, frankly, I enjoy the thrill of the hunt.

But every once in a while, the legwork pays off. And today was one of those days for me. In fact, legwork is probably the wrong word choice. Research is a more applicable one, since I it took all of a half hour to work the phones and the Web to score a killer deal on a new washing machine. Here’s how it went down.

This morning, I get a phone call here at the office from my wife, who tells me that our 15-year-old top-loading Kenmore washer has conked out. From her description, the problem sounds terminal – gurgling, clunking, and sudden silence. Calculating what we paid for the washer back in the day – around $500 – and the cost of the last repair job for a housecall and parts – around $250 – our decision to take the patient off life support is a no-brainer. 

My search for a replacement begins by checking out our advice for buying a new washing machine, along with the latest washer Ratings, and brand-repair histories. Based on our budget, I narrow my options to two models, a GE and Frigidaire, both quiet, capable and highly energy- and water-efficient front-loaders, which seem to have tumbled in price since I last looked. With all due respect to my colleagues in the Home Franchise, I don’t follow the latest appliance trends until catastrophe strikes. 

After eyeballing the product specifications – don’t even think about buying an major appliance until you know the exact dimensions to make sure it’ll fit through the door opening – I opt for the GE, the number-two rated product and a CR Best Buy. But the $900 approximate retail price tag strikes me as steep. As a matter of course, I always consider published prices to be a starting point. To see if I can make out even better, I do a comparison on PriceGrabber, which lists a range from $718 to nearly $1,000. Trouble is, I don’t recognize most of the online sellers, and the idea of buying a major appliance the same way I buy clothes – via the Internet – leaves me uneasy.

So, my next stop is the old standby, Sears, first the chain’s Web site, followed by a call to the local store. They’ve got the machine in stock, and it’s on sale, for $807, and Sears is offering free delivery and removal of my old washer. What I don’t like is the fact that I have to pay for delivery, then apply for a rebate to get back the $55 fee. That’s ridiculous, but I guess Sears figures it’ll come out ahead because so many people don’t bother to fill out and mail in the necessary paperwork for reimbursement. Sears also offers a price-match guarantee. Find the washer priced lower elsewhere by a local competitor and Sears says it will meet the price and give you a refund of 10 percent of the difference between its price and that of the competitor.  It’s a challenge I gladly accepted.

I check the Web sites of other big appliance sellers including Home Depot, Best Buy, and PC Richard & Son. All the prices are in the same ballpark as Sears.  But I discover a venerable local chain, which features the washer on its Web site for $690, an absolute steal. Because you need to document everything when requesting a price match, I make sure the quote is apples-to-apples. I print out the Web page with the model number and price; write down the name and phone number of the salesperson I speak with; note the date and time of our conversation; confirm that the model is brand new, not a demo or closeout; and also verify that there’s no extra charge for delivery or disposal of the old appliance. Check and double-check.

Having done my homework, I call back Sears to seal the deal. They acknowledge that the retailer offering to sell me the washer for $690 qualifies as a local competitor (note, neither Sears nor other big-box stores will generally match those low-ball quotes from those online-only storefronts). The final price: around $680, plus tax. 

I’m heading over to the store after work to do the paperwork.

Have you scored any great coups leveraging the power of a price-match guarantee? Click on the comments link below to share your story.

Comments

[Bob]

I'm wondering why Tightwad Tod didn't just buy it from the merchant who advertised it for $690.

[Beverly Duffy]

Two things come to mind, Tod: 1) Why didn't you purchase a front-loading, energy efficient washing machine rather than a top loader? Many cities offer substantial rebates if you do. My city, Albuquerque, New Mexico gave us a $200 rebate to our water bill for purchasing front loading washer & dryer. 2) Rather than give a major chain store your business, why didn't you support your local store that offered you the machine for $690?? This day and age, I'd rather support my small local businesses than the major retailers.

TOD REPLIES: Beverly, I meant to say front-loader. My mistake. In my haste, I didn't reread my post carefully enough. This is my first front-loader, but based on what the experts here say, I'm looking forward to seeing it in action. Your second point is valid, and I suspected I'd be getting quite a few comments that echo what you say. The chain is not "small," as in mom and pop, but an area powerhouse in business for decades. I have patronized them in the past and will definitely do so again in the future. Sears had the model on display on the sales floor, the other store didn't. Also, Sears was in a position to deliver it a bit sooner.

[Kristen @TheFrugalGirl]

I was wondering the same thing as Bob!

I think price-matching can be worth the effort on large items, but I'm not interested in doing it for smaller items. I know people take advantage of Walmart's price matching for groceries, and that is WAY more headache than I'm willing to put up with.

[EasyEcoBlog]

Yes pricematching is great when it works, but many local retailers, specifically Best Buy make you just through hoops and arbitrarily add criteria that is not documented. In fact they are being sued over this:

http://arstechnica.com/tech-policy/news/2009/03/best-buys-anti-price-matching-policy-revealed-in-lawsuit.ars

[Ms. Green]

Todd, I hate to be a stick in the mud, but I'm wondering why you didn't just buy it at the local retailer that had the better price, if they also offered free delivery and removal?

I also feel compelled to share how I saved $72 by price-matching at Bed Bath and Beyond. They sold the toaster I wanted for $200 (I know, I know ... but what can I say? It was "highly recommended" on a kitchen products consumer review site). I found it online at Linens N Things for $160, and even though LNT marked it down for foreclosure clearance after it's original price, BBB matched LNT's original price ... AND let me use my 20% off coupon! I got it for $128 -- saving $72 (and I love it, too -- worth every penny). I didn't want to buy it at LNT.com because I would have had to pay shipping, all sales were final, and even their clearance price didn't beat buying it at BBB with a coupon.

[Jason]

The two stores that I've had the most success in getting a price-match guarantee honored are Circuit City (the only thing they did well) and Staples. Circuit City would match Best Buy, Wal-Mart, Target as well as Staples, OfficeMax and Office Depot. Staples only considers the other two office stores for price matching.

[Ms. Green]

I got a great price-match at Bed Bath & Beyond -- they matched an online Linens n Things price AND let me use my 20% off coupon. It saved me $72 on a $200 item!

[Chris]

Also don't forget to look at old sales signs that may have been forgotten about. I bought a 1 terrabyte hard drive for $99 - a sale that ended 2 weeks ago but a sign was still up advertising $99 in the store. I got to the cash register and she said sorry it's not on sale and she went to talk to someone came back and said sorry. So I was about to leave it and instead decided no hold on to it I'm going to talk to the guy I was talking with who saw the sign as well. He came up told the clerk and all was good.

So remember, don't forget about the advertising signs in the store, it it's not on sale but the sign says so. Point it out at the cash register, most of the time they are supposed to honour the sale.

[practicalfocus]

I'm in the midst of a kitchen renovation that involved having to purchase four new appliances. What a challenge! Sears is a great site for narrowing down the models that interest you. Then the challenge is in learning what other buyers of those models think about their performance and finding a great price--there's nothing like the feeling of grabbing a great discount on that perfect, well reputed appliance!

I have found the web site http://www.buyvenue.com to be a great help when I want to shop online and find best products at best prices. This free access site (with no advertising clutter—how refreshing!) points to the most competitive price comparison sites and retailers, helpful product reviews, pre-owned merchandise, discounts, coupons and freebies, with lots of direct links to practical time and money saving consumer information and advice.

I highly recommend this educational and informative site for saving money!