Don’t sign that contract without a second opinion

Before you buy a used car, you take it to a mechanic. When you’re under the weather, you go to a doctor. When you face a dilemma, you consult a trusted friend. We’re all accustomed to getting a second opinion for the simple reason that we don’t know what we don’t know.

So, when it comes to negotiating vendor contracts for your bank or credit union, looking for a second opinion should absolutely be part of the process. A third-party review by experts who know the ins and outs of vendor contracts will give you reliable advice, along with confirmation for a number of significant concerns, such as:

• Am I getting the best deal?
• Am I getting the best terms?
• Am I missing out on signing bonuses?
• Are there other vendors I should be looking at?
• Are other financial institutions negotiating more aggressively and getting better concessions?
• Can I consolidate line items or bundle services to save money?
• Am I leaving any additional incentives on the table?

When you get a second opinion, you arm yourself with more complete information and a different perspective.

 

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