With a large number of businesses closing around the state and right here in Lubbock, are you always getting a good deal when the clearance sales start?

According to our friends over at The Consumerist, the answer is generally no.

From The Consumerist:

The deals at store closing sales simply aren’t good, especially at the beginning. Outside liquidators normally handle the sales, and the first thing that they do is raise all of the prices back to the manufacturer’s suggested retail price.

Items are discounted from there, topping out at maybe 20 or 30 percent at the beginning of the sale. It means that the first day those red, black, and yellow store closing signs go up, you might pay more for that item than you would have the previous day.

So while you may think you are getting a deal, in reality, you may be wasting money, to say the least.

But there's an even bigger problem: returns and warranties.

Most going out of business sales tend to have a no-return policy. You buy it, it's yours. Doesn’t matter if it works or not. And your credit card company isn’t going to be much help if you want to dispute a defective item charge. 'All sales final' really does mean all sales final.

Register your purchase with the manufacturer as soon as you can so if it does break down or fails to work, you can still get it serviced.

But why wait until a business is going under to shop, especially if you aren’t getting the best deals? Go shop now, and shop local to help your friends and neighbors!

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