Salesmen and Pressure

A few moments ago, I received a phone call from a distraught client about an issue that was in part financial and in part about the need for some home repair (yes, it is Saturday evening).  The client's air conditioning unit had failed, and the HVAC technician, in the process of evaluating that problem, somehow introduced a plumber into the discussions.  The cost of the repairs quickly escalated beyond what the client expected.  The client and her husband were being pressured into making decisions immediately to follow through with the repairs, and pressured into taking the "same as cash, 12 month payment plan" option.

The client had also had some health issues over the last month, and that added to her stress.  She called me wondering what to do about this salesman who was pressuring her into making a decision tonight.

I told my client that she needed to tell the salesman that she "needs to sleep on this" and that she would "phone them next week concerning her decision."  I told her that if she wanted me to speak to the salesperson directly that I would be glad to do so on her behalf.  I also told her that I could put her in touch with a general contractor who might be able to provide another estimate.

Takeaways:  Do not let salesmen pressure you into making a snap decision. Gather up other quotes before hiring someone to do the work.  One part of financial management is making sure that you are receiving quality service at the lowest price possible.  This is one scenario in which requesting multiple quotes will help you receive quality service at the lowest price possible.

Another point is that your financial advisor may or may not be available during evenings and weekends.  If you desire such availability, make sure that you have discussed this in advance with your advisor before you make a decision to hire them.