Saturday, February 2, 2013

Rebates For Beginners


Rebates offer customers lower prices or free items. They are paying you money to buy their stuff! All you have to do is take it. 




Here is a quick run-down of how rebates work:



What is a rebate?
A rebate is an amount of money paid by way of  return, or refund on an item that has already been paid for. The mail-in rebate (MIR) is the most common. A MIR entitles the buyer to mail in a coupon, a receipt and bar-code in order to receive a check for a particular amount, depending on the particular product, time, and often place of purchase.

Who issues rebates? Why do they issue them?
It is a type of sales promotion used as an incentive  to increase sales. Rebates are heavily used for advertised sales in retail stores in the United States, however some companies, like Best Buy, have announced that they would be eliminating all mail-in-rebates. Other companies, like Menard's, rely heavily on rebates as a marketing tool. 

How do rebates work?
Let's say an item is advertised as "$59 after rebate", with the item costing $79 OOP (out-of-pocket) and a $20 rebate that the customer would need to redeem by mail. The turnaround time is generally four to eight weeks, though some rebates have a period of eight to twelve weeks.

Most rebates are handled under contract by rebate clearinghouses that specialize in processing rebates and contest applications.

Do people really get items free with rebates?
Yes, we do! Sometimes you will find a rebate that will give you the entire purchase price back! Other times, if you match a coupon with a sale price, you can lower the OOP cost and submit the rebate, getting your item for free. 

Where can I find rebates?
You can find an up to date list of available rebates by clicking here



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