Lending Club Blog

Preparing and Acting Quickly to Get the Best Deals

Great deals rarely last long. Perhaps that’s why so many people face the cold and darkness every Black Friday. The same principles driving those people can be applied to everyday purchasing decisions.

Preparing for a great deal comes in two forms: accumulating funds to cover the purchase and understanding the price point that makes a good deal a great one. Accumulating funds is critical if you truly want the best deal. Purchasing at a great price, only to have the balance sit on your credit card and accumulate huge interest charges quickly erodes the value of the deal. Knowing the normal and typical sale prices of the desired item will help you to quickly spot a deal too good to pass by.

There are a lot of ways to stay on top of the product you are watching, some general, some specific. You could periodically search on a price comparison site or configure a pricing alert. The alert will typically email you when your pricing criteria are met. For a specific item, you may want to look for a specific price alert site. When I was shopping for a Nintendo Wii, I refused to pay more than the MSRP. So I signed up with Wii Alerts to get a text message (on-screen and email alerts are also possible) as soon as a retailer had one in stock for the price I was willing to pay. A 3 AM text sent me running for my computer to make the desired purchase. At the time, Wii systems were selling on eBay for $500+. While Wii Alerts is great for video games and accessories, similar sites exist for many other products and services.

Proper preparation and understanding of prices are only going to get you so far. When the deal you are looking for finally comes along, it’s important to act quickly. I recently purchased a top-of-the-line car seat within 2 minutes of receiving an email that Target was carrying it for $40 with free shipping, even though it normally retailed for $280. Twenty minutes later, they were completely sold out. Since I knew it was a good deal and had the money in place, I had no reason to hesitate. As a result, I got the deal.

Shopping online allows us to get unbelievable deals, but only if we are willing to take advantage of them. At times it may be inconvenient (such as my middle of the night Wii purchase) but for the right price, it is certainly worth it. So get your money in place, understand the price that will get you to act quickly, and when the deal comes along, go for it!

What tools do you use to get great deals?

Wednesday, December 31st, 2008 at 9:02 am

Comments (1)

  1. practicalfocus:

    I find the web site http://www.buyvenue.com/dontfollow 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

    January 1st, 2009 at 2:46 pm


Welcome Home

Lending Club named #5 on Forbes’ Most Promising Companies List

Get ready for tax season with Lending Club’s Tax Form Guide

New Adjusted Return Metric

See more
Lending Club Awards
  • Archives z

Recent Posts

More Data Coming for Investors

We’re always seeking feedback and looking to make the… Read More »
November 10, 2015

Lending Club Surpasses $13 Billion

Check out our updated infographic to see what a… Read More »
October 29, 2015

Lending Club Launches Multi-Draw Line of Credit for Small Businesses

We’re excited to announce the… Read More »
October 16, 2015

Bloomberg Markets Names Renaud Laplanche on its 2015 “Most Influential” List

Read More »
October 6, 2015

Congratulations, Carrie! Named 2015 Financial Woman of the Year by The Financial Women of San Francisco

Read More »
October 5, 2015

Congratulations to Carrie Dolan – Named one of American Banker’s 2015 Most Powerful Women in Finance

Read More »
September 22, 2015

Welcome Nebraska, Kansas, and Indiana Investors!

We recently welcomed residents of Nebraska, Kansas, and Indiana… Read More »
September 21, 2015

Lending Club Job Spotlight: Technology & Member Support

Our Technology team develops and… Read More »
September 14, 2015

What $11 Billion Can Do

In celebration of surpassing $11 billion in loans and… Read More »
September 3, 2015

Welcome Arkansas, Iowa, and Oklahoma Investors!

We recently welcomed residents of Arkansas, Iowa, and Oklahoma… Read More »
July 14, 2015


We went public today!

Ringing the bell this morning at the New York… Read More »
December 11, 2014

New and Improved Statistics Page

We recently redesigned our Loan Statistics page to make… Read More »
November 13, 2014

Lending Club Honored with Economist Innovation Award

This month I was honored… Read More »
October 15, 2014

Welcome Vermont Investors!

Today, we’re thrilled to welcome residents of the state… Read More »
September 4, 2014

We filed to go public today

We filed a registration statement with the SEC today… Read More »
August 27, 2014

Our Billion Dollar Quarter

We’re excited to announce  that we’ve facilitated over $5… Read More »
July 8, 2014

Is Lending Club Available in My State?

Is Lending Club available in my state? That is… Read More »
July 7, 2014

Lending Club Joins Senator Cory Booker to Discuss Improving Access to Capital for Small Businesses

Read More »
June 20, 2014

Lending Club Named a CNBC Top 50 Disruptor for a Second Year

For the second year in… Read More »
June 17, 2014

PRIME is now Automated Investing

Lending Club is excited to announce that PRIME has… Read More »
May 14, 2014
View All w