rebate

A rebate is a partial refund of the purchase price of a product or service, typically offered after the original sale has been completed. Unlike a discount, which lowers the immediate cost at the point of purchase, a rebate requires the buyer to take action — usually submitting proof of purchase (like a receipt) along with a claim form — to receive money back.

Rebates are commonly used as a marketing tool by manufacturers and retailers to encourage purchases. They can be offered in many situations, from cars and appliances to furniture and even some tax situations, where part of the money paid is returned. Governments often use rebates to encourage environmentally friendly choices, like installing solar panels or purchasing electric vehicles.

The process usually involves filling out a form (often found online or in-store), attaching the required documentation, and mailing it to a designated address. It can take several weeks to receive the rebate check or credit. While sometimes seen as slightly inconvenient due to the extra steps involved, rebates can offer significant savings for savvy shoppers.

So, if you see an advertisement promising "Save $100 with a mail-in rebate," remember it's not an immediate price cut — but a potential reward for taking a little extra effort after your purchase!