How to Become an Aware Consumer
You have probably heard it said before that information is power. Nowhere is this more true than when you are faced with decisions about how to spend your money. It is the job of salespeople, beautiful store windows and dazzling Web sites to entice you to buy the products they sell. It is your job to dig beyond these marketing ploys and find out exactly what you would be buying.
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Instructions
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Research the exact specifications and options available for the product you want to buy. If you're considering a new car, for example, find out the option packages the manufacturer offers for the model you're interested in. Most manufacturers offer basic (cheapest), mid-class (more expensive) and luxury (most expensive) packages for each model. The same can be true of other products, too. Even books can come in different editions with varying illustrations or introductions. Your first job is to become an expert on the product or service.
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Compare the product you want to similar products. Find out what's out there. What precise options do you need for how you plan to use the product? Will the basic model do? Research recall information at recall.gov and the U.S. Consumer Safety Commission. (See the Resources section for links.) Read user reviews. Some popular review Web sites are Yelp, Epinions, TripAdvisor, Edmunds, Consumer Reports and Consumer's Digest. There are many others, both online and off.
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Ask yourself a very simple question: Given everything you've learned so far, do you need this product? Be honest. As much as possible, avoid impulse buys.
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If you need the product, now research the sellers. Find all the places you can buy the product. Check with the Better Business Bureau to see if other customers have complained about a seller. Read customer reviews at Web sites such as ResellerRatings, Epinions, CitySearch and others.
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Choose a seller and, if possible, negotiate the price. Sellers of big-ticket items, such as cars, vacations, furniture, houses and other similar products, respect a well-informed consumer. Many places will match the lowest price at another store. Plus, once a salesperson realizes you know the market value of a product, he or she is less likely to quote you too high a price. Be assertive and use your research. In some cases a salesperson may work harder to make the sale after realizing you are serious about buying. You will either buy from that salesperson or from someone else. The salesperson helping you prefers it to be him or her. Use this to your advantage.
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Understand the manufacturer's warranty and the seller's return policy. Register your product as required by the warranty, and abide by the refund policy if you need to return the item. If the product is defective and you cannot get satisfaction from the manufacturer or the seller, look into lemon laws in your state.
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