The first step to making an informed decision is to do your research. Before you decide to pay any amount of money, read the following research tips to ensure you would get your money’s worth with the merchandise or commercial service:
Buyers Beware: General Product and Service Buying Information
• Set a budget.
• List the attributes of the needed product or service. Ask your friends and family about their experience with the projected product or service.
• Get quotes and compare products prices or services fees.
• Make sure the seller has the appropriate license (if applicable) to sell products or services.
• Request a written copy of warranty and contract, and closely review it.
• Don’t buy on impulse or under pressure.
• Check out company’s complaint record.
(Tips provided by Buyer Beware, 2013 Consumer Action handbook)
From buying a new car to selecting a new financial institution, you should take several steps before you finalize your decision. This action will likely increase your satisfaction with your decision. Check out the purchasing situations and coordinating advice, then research resources:
Buying a New Car
• Decide what kind of vehicle is best for you (and your family).
• When choosing car dealerships, check out your state or local consumer protection agency and the Better Business Bureau.
• Take a test drive in the vehicle you are considering purchasing.
• Compare vehicles on websites such as www.consumerreports.org, www.motortrend.com, www.caranddriver.com, and www.edmunds.com
Choosing a Financial Institution
• Check the account minimum deposit requirements.
• Ask about account, overdraft, and check fees.
• Is this financial institution conveniently located for you? Are the branches or ATM machines in close proximity? What online transactions are allowed?
Solving a Consumer Related Issue
There will come a time when you might be dissatisfied with your purchased product or service. If you are dissatisfied with your product or service, as the consumer, you have the right to report it against the company, get a refund, or file a discrepancy. Read the tips below on how you can handle consumer product or service related issues.
• Contact customer service either at the store or via website.
• File a complaint with the Better Business Bureau: https://www.bbb.org/consumer-complaints/file-a-complaint/get-started
• Military members can visit their installation’s Financial Readiness Office to file a discrepancy.
• If you paid with a credit card, contact your credit card company to file a discrepancy.
• Draft a complaint letter; check out http://www.consumer.ftc.gov/articles/0296-sample-consumer-complaint-letter for a sample complaint letter
Avoiding Fraud
Fraud is becoming more prevalent within the consumer industry. Protecting your private information and making knowledgeable choices can help you avoid scams. Read the tips below on how to avoid fraud.
Signs of Fraud
• A stranger initiates contact and asks for your financial account or credit card number.
• Someone you do not know offers you the chance to receive a credit card, loan, prize, lottery, or other valuable item, then asks for your personal data to claim it.
• The deal is only good “for today” or a short time.
• A “repair person” suddenly finds a dangerous defect in your car or home.
• You are given little or no time to read a contract.
• A sale item is suddenly unavailable, but a “much better item” is available for slightly more money.
(Tips taken from 2013 Consumer Action Handbook and https://www.consumer.ftc.gov/articles/0060-10-ways-avoid-fraud)
For more information on fraud and protection against being a victim, visit http://www.fraud.org/ and https://www.consumer.ftc.gov/articles/0060-10-ways-avoid-fraud.
What are your consumer protection tips? Share your thoughts with ACS!!!
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