Rebates just like discounts are an ideal way to save money on a purchase. They allow you to get a portion of the purchase price back from the merchant after a specific time. Unlike discounts which deduct the price before purchase, deduction on rebates come after the purchase. Rebates can save you a decent amount but usually you have to wait for weeks before you can actually redeem them.
Actually, rebates are businesses’ form of marketing their products or services. With rebates, companies can attract more customers by issuing a refund, although this can take some time. On the other hand, the idea of rebates also benefits consumers. With rebates, they can try new products at a cheaper price. Even sometimes, they purchase a product and then get 100% of their money back.
How to redeem a rebate?
You will find products offered with rebates when you shop either in a retail store or in big supermarkets. The percentage of the refund varies but more often than not, it is a considerable amount. Before the actual purchase, you will learn how to redeem your rebate from the label of the product or from the merchant. Often, redeeming a rebate is done by mail. This is known as MIR or mail in rebate. You have to send certain things such as the barcode, receipt of the product and the coupon.
Note that some rebates are only offered in a particular store or location and will not be valid elsewhere. Rebates also have an expiration date, so remember to redeem your rebate on or before the date.
On the other hand, there are times that a rebate is printed by the participating store and this is what you have to send via mail to redeem your rebate when the time comes. Instant rebates are also offered. This refers to same day redemption of rebate.
Rebate programs offer various means for payout. This includes via check, prepaid points, and sometimes, thru PayPal. When rebates are sent thru PayPal, this will take some time before the money appears in your bank account. Prepaid cards on the other hand can be used for purchase without a trip to your bank.
Check for outlets or products that offer rebates. You may be able to find a couple of items, which is in your grocery list that has rebate offers. Imagine the amount of money you can save if you are able to find several items.