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What is the correct way to say a product can be bought with a discount of 30%?

Is it: “Buy this by 30% off the regular price.”?

What I want to say is that a 30% discount is being given, so the product will cost 70% of the regular price.

There seems to be a difference between of and off. Will this wording be misunderstood to mean that the product can be bought by 30% of the regular price instead of 30% “off” the regular price?

How do I say it correctly and without creating doubt?

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    Are you marking a price tag, or printing an advertisement? What is the context? An ad in the paper might say, "Everything in the store is 30% off now through Sunday" – Jim Jan 6 '13 at 18:45
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    I don't think using "x% off" would create any doubt. – user19341 Jan 6 '13 at 18:46
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    Also, since you buy things for a price, the usage here would be: "Buy this for 30% off the regular price." – Jim Jan 6 '13 at 18:48
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    As far as I can see, native speakers will not confuse "30% off" and "30% of" ... However a typesetter might make that mistake, producing a misleading ad... "Today only, 30% of the regular price!" – GEdgar Jan 6 '13 at 19:53
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    Discounted by 30%... is often used to represent what you're trying to say. – spiceyokooko Jan 6 '13 at 23:21
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30% off regular price = An item for £100 now costs £70

30% of regular price = An item for £100 now costs £30

You could avoid typesetting errors, as mentioned by GEdgar, by omitting 'regular price'. Any native speaker will understand what '30% off' means.

'30% of' doesn't mean anything on its own.

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