First of all i would like to cover the general definition and after that we will talk more about it on the car rebate. a rebate is a discount which offers you some money back on a purchase or agreement you had made. people often use this as an incentive for buying something which they weren't sure if they wanted, as it's basically like getting paid to make a purchase. the word “rebate” comes from the english verb “to drawback”, which means “to subtract”. these days, most people don't really come across any problems with their credit card payments so there is no need for a refund process, but that doesn't mean someone at one time didn't know better than to sign up for that low interest rate
how does a rebate on a car work?
when a car is purchased, if the dealer's trade-in allowance exceeds the purchase price of a new vehicle by a certain percentage, often determined by individual states or used car dealerships, then after everything else has been settled, the dealer will issue an invoice for that amount and beginning at the end of two weeks from date of purchase it is boxed off as taxable income. the reason this can be unsettling to some people is because they either don't notice it on their tax return and get audited later on for failing to report their monthly paycheck deductions or they just ignore it and realize too late that beginning next year any remaining amounts become taxable income and if they don't want to owe extra taxes for money owed in previous years or only rec
what is a rebate and how is it used?
a rebate is the repayment of money to an individual for purchases made. the term is often used in marketing to advertise savings on behalf of a company.
a rebate can be applied to any form of monetary purchase, not just electronics or grocery items; it's also quite common for car loans and home mortgage companies offer rebates at the close of any negotiations.
if you apply now, we'll send you $500 per year (paid every week) over the course of five years! signed, your friendly neighborhood property tax assistant.
some restaurants use this method outside their building too – they promote discounts on food if customers have small bills for instance. a return policy may include provisions that oblige a customer with certain documentation
what are rebates and incentives?
rebates are discounts on products or services that, if taken advantage of by consumers, can save money. the incentives often indirectly motivate the consumer to buy specific goods and services with benefits given to the company in return (for example rewards may be offered for enrolling in long-term life insurance plans).
what is a rebate when leasing a car?
a rebate is where the leasing company pays some of the lease cost before or during the lease agreement. for example, a bmw representative may say a client is receiving a $1,000 rebate on a 3 year/36 month lease providing they meet certain eligibility requirements.
