Every time I visit the local store, there is a new product on the shelf with colorful banner that no one can miss out. To promote these, companies will have incentives for customers in the form of a rebate. Basically a cash back offer to lure customers to buy the new products.

Even though the prices on display for the products will be low, but when you take the product to the billing counter, you will be charged the actual price and a rebate form will be handed over for to get the rebate on the purchase.

It may sound good to get the rebate, but the process is not very simple. An example of the process is filling the form and sending the payment receipt and the waiting period of a few weeks for the rebate to be processed and completed. But are rebates worth the effort? We will know this soon.

Types of rebates

Instant Rebates: This is the most simple and hassle free rebate offer from stores. Its basically a discount on the products, but only termed as a rebate. Example of this is an Office Depot printer for $190 after $60 rebate.

Manufacturer Rebates: This is special rebates for specific stores created by manufacturers. You will not find this rebate offer in any other store. The rebate forms and receipts may be printed at the billing counter itself and a few of the rebate programs will have payout options like a check or a prepaid card that can be used instantly.

Mail-In-Rebate: This is the most commonly applicable rebate systems. You will get the rebate in the form of a receipt or a coupon or a bar code.

Why Rebate?

You are able to try new products at the fraction of the cost and at the same time you can even purchase in bulk and get a good rebate. Some simple steps are all you need to follow for rebate reimbursements:

– Get the form. Generally, all the rebates require a form to fill and process. You can get the form at the billing counter or on the website of the product. You might even find the form kept on the shelf where the product is on display.

– Read the instruction. Fill the form with all the required information. In some forms you will need the UPC and some will ask for the cash register tape. For liquor, you might have to submit a valid date of birth proof. So on and so forth, different rebate form will have different requirements.

– Submit on time. There will be a valid period during which the rebate form will have to be submitted. This is called the promotion period.

– Coupons. Avoid applying coupon on a rebate applicable product. Some manufacturer will deny a rebate on a coupon applied to purchase. Bill the product separately.

– Keep copies. Make copies or scan and keep the form that you have filled and submitted till you get the payment. This is helpful in the event of the rebate not being paid to you.

Getting rebate can be time consuming, but at the end of the day what counts is the reimbursement that you get. Don’t run away from rebates. Its not a bad option.