Just about everyone likes to save money and get a bargain. The rebate is popular with budget-conscious consumers because it reduces an item's cost. There are different types of rebates. The most convenient is the type that gives consumers the money up front. Auto manufacturers typically give this type of rebate. Customers negotiate the price of the car and the rebate money is immediately deducted. A mail-in rebate gives the consumers money, but a specific procedure must be followed to get it and it can take some time to arrive.
Definition
The Federal Trade Commission (FTC) defines a mail-in rebate as a rebate offer that requires consumers to send in specific paperwork to get the money. They will not get the rebate if they do not apply for it and follow the offer's instructions to a tee.
Requirements
Rebate paperwork requirements may vary depending on the company and offer, but the FTC says consumers usually need to send specific items. These include the original receipt for the sale, the product UPC code and an official rebate form. Consumers will be asked for the name and address so the check can be made out in the correct name and mailed to them.
Time Frame
The FTC says rebate offers usually run during specific dates. Consumers are generally required to mail a rebate request within 30 days of his purchase. It will take some time to process, with the money normally arriving in about eight to 12 weeks. The rebate will be denied if the paperwork is not sent within the specified time frame.
Precautions
The FTC recommends certain precautions to make sure that consumers will get their rebate. It is recommended to read the instructions carefully, as making an error can invalidate a request. Consumers should make copies or scans of all their paperwork before mailing it in. Consumers should also follow up if they do not receive a rebate check within the stated response time. If a query is ignored, consumer should report the company to the FTC, their state attorney general and the Better Business Bureau.
Warning
J. Howard Beales III of the FTC warns that some companies try to make it extremely difficult to redeem their mail-in rebates. This leads many consumers to give up before getting their money, which means they end up paying full price for the item they purchased. Questionable rebate offers can be reported to the FTC, which has taken action against many companies that were slow to send mail-in rebate checks or did not send them at all.
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