Greensboro, NC - The after Christmas lines are starting to thin out, so now is a good time to return those gifts you don't want. But sometimes it's not as easy as it sounds.
WFMY News 2's Tracey McCain spoke to Joan Stanley with the Better Business Bureau about how you can make sure you get the most out of your return and purchase.
When it comes to returns:
• Most stores have a return policy but the policies vary in one way or another, for instance on-sale and clearance items - know the specifics;
• Always ask for a gift receipt and enclose it with the present/gift;
• Many merchants charge as much as 15 percent restocking or "open box" fee for returns of electronic products or large-ticket items;
• Some retailers have different return policies if you are shopping online or in the store so read the online return policy;
• If the gift is purchased on-line find out who pays for return shipping - you or the merchant and make sure you have the right address;
• Health regulations may prohibit return of hats or intimate apparel;
• Many stores now have a limited time frame from the date of purchase in which you can make a return.
When it comes to Warranties & Extended Warranties for your electronics the BBB advises the following:
• Be aware of the fine print: The coverage should not have a large number of exclusions. If you have to pay out of pocket for certain repairs and only specific types of damage is covered, it might not be worth the warranty. Read the exclusions first.
• Utilize the manufacturer's one year warranty first: Look for extended warranties that pick up after the manufacturer's warranty ends. Otherwise, the consumer is losing out on a year or whatever the terms of the manufacturer's warranty pays for.
• Consider the item's lifespan: If there is something wrong with the product it most likely will happen early on during the return period or manufacturer's warranty. For instance, getting a GPS warranty might not be worth the money, the manufacturer's warranty should be enough. Remember when purchasing warranties to find the right length correlating to the product. Don't purchase 10 years for an item that typically lasts 5 years.
• Shop around: The best warranty might not be with the retailer you purchased the item from. It's always possible to find a warranty with companies such as www.SquareTrade.com. Typically, you have a month to purchase the warranty. The same is true in retail stores, so don't feel pressured to purchase it on the spot.
• Keep all your paperwork.