Vocabulary – WARRANTY, GUARANTEE, REBATE, EXCHANGE, CREDIT


Hi, welcome back to engVid.com. I’m Adam. Today we’re going to look at some business words. Especially used when shopping, but not necessarily that sometimes people are not sure the differences between or how to use, etc. So, the words we’re going to look at today are warranty guarantee refund, rebate, exchange and credit. All of these look okay to you? Okay, before we continue Before we continue this was a little trick for all you IELTS students, who have to worry about spelling Any problems here? If you noticed it – that’s good guarantee Don’t forget that “u”, very important. You can lose a point on the IELTS test just for that little “u” so be careful – guarantee, okay. So, we’re going to look at these words, we’re going to learn what they mean, how they’re used, etc. Well start with these two Warranty and guarantee are sometimes confused, because people think that they’re exactly the same thing which to a certain degree, yeah, they are, but, to a certain degree very different. A warranty is like a guarantee in that it is a promise. It is usually in writing, but this is only about products. oops, sorry okay, This is only about products. A warranty promises that when you buy something. That when you buy something everything is guaranteed. Everything will be replaced or fixed if it breaks. So, for example, the most common warranty that people worry about is cars or electronics, okay So you go into a store and you buy a TV, we’ll start with the electronics. You buy a big TV. It comes with a one-year warranty that means that the company that made the TV or the store will fix your TV or give you an new TV, if the TV that you bought, doesn’t work or stops working. A guarantee is like that, is a promise but it could be about service, it could be about a product, it could be about your satisfaction. Sometimes you’ve heard the expression: “satisfaction guaranteed” Many companies will say that “come by in our store, you will be satisfied”, “your satisfaction is guaranteed” or “your money back” well
What does that mean? It means that they promise you, you will be satisfied, you will be happy with what they are doing for you. okay A warranty, another thing to keep in mind, a warranty is usually within a time frame let’s say, one-year warranty and you can buy an extension. Guarantees can also come in a one-year or like some sort of time period But usually, they are given for a much longer time It’s understood that your product or your service or something is good Okay? A lot of companies also use the guarantee to make sure that you’re happy. So for example They will say: lowest price guaranteed means, if you buy something at our store and then you see cheaper somewhere else. They will then refund the difference So you buy something here for a thousand dollars Next week you see it in the advertisement for another store for $900. The first store will give you back $100 Usually they’ll put in a little gimmick, they’ll add 10%, they’ll give you 110 dollars back to saw your satisfaction is guaranteed. Okay I’ll write that word for you here gimmick. Gimmick is like a trick. It’s something they do to try to make you think like you’re special Sometimes it’s good, sometimes it’s not. So let’s go on. A refund. What is a refund? A refund is your money back, but usually a refund means you give the product back, they give you your money back or If you. for example in, let’s say, you got a service. Somebody did a service for you, they came they cleaned your house but you come home and you, like, you see stains and you see spots and you see dust. You’re not very happy You already paid. So they will give you back your money. They will give you a refund. okay. It’s also part of the satisfaction guaranteed thing. A rebate is like a refund except that you don’t give anything back. Really a rebate is more of a discount. So for example, when you go buy a car What that means is? That the manufacturer like Honda, Ford, Toyota etc. They will send you back a thousand dollars if you buy their car. Usually the dealer will just take that thousand off your car purchase price and the Hyundai or Ford will just send them the money. So it’s like a refund, but it’s more like a discount and usually you have to mail something to the company and then they send you the money. The reason people don’t really trust rebates are because most people forget to mail and the request, so they never get their money back. So, it’s also it’s a little bit of a gimmick as well, be careful about that. A lot of stores when you go shopping in a store like, let’s say, you go to the gap or you go to Best Buy or any of the big box stores. You buy, a big box store by the way. A big store looks the same any city you go to. They have a policy They say no refunds. That means, if you buy something and then, a week later, you decide you don’t like it anymore You want to give it back, they say, yeah no problem, we’ll take it back, but we won’t give you your money. We will let you exchange it, means, you can take something else That has the same value or less and if it costs more than, you pay the difference. But you can only trade, right? That’s basically what exchange means, it’s trade. Credit is the other common policy. If they say: no refund, means, you bring back. You bought a shirt at the gap You came home and you tried it in the mirror because it clothes look different in the store than they do at home. So you go home, you realized, I don’t like this shirt I want to take it back. You take it back and the gaps as well What we will do is give you store credit means, if you bought a shirt for $100 here’s $100, but you have to use it in our store That’s like credit. So if you understand credit card, it’s the same idea. It’s money that you can use for something else in their store. These are everyday words. Get to know them. IELTS students, don’t forget “u” and the guarantee. And if you’re not sure exactly the differences, check out the quiz on engVid.com. Hopefully it’ll be explained there and I’ll see you again soon. Thank you

82 thoughts on “Vocabulary – WARRANTY, GUARANTEE, REBATE, EXCHANGE, CREDIT

  1. thanks Adam, useful lesson. ohh i also need the TOEIC lesson. could you send me some TOEIC lessons. i want to start with basic TOEIC first. could u help me?

  2. Excellent video and good explanation. Business English is very important and the terminology that you used in this video is very useful and it is going to help a lot of English students around the world. Thank you very much for these wonderful videos that you've been doing.

  3. thanks SIR ADAM… FOR YOUR INTERESTING DAILY CONFUSING VOCABULARY… THAT HELP ME CORRECT MY ENGLISH… GRAMMAR…

  4. Thank you very much Adam … I was kind of bit confused about these words even though i have looked into dictionary many times i faced these words … I appreciate the way you explained these words … Thanks again.

  5. One thing I have understood in Life is,

    1) If I think positive, I feel Good Immediately
    2) If I think negative, I feel Bad Immediately

    Then I analyzed, what? is Thinking?
    Answer I found was? "Thinking is just a play of words, words & words"

    Think about the word "Problem" and "Challenge". Both say same thing, but
    the later feels good and former bad.

    Infact, I am using a iPhone called "iVocab" by Lokesh Hanumappa which helps me in a terrrifc way to learn words and track feelings of the words.

  6. Adam ur way of teaching is awesome i actually dnt know the difference among all these thanks for making it understand it

  7. Adam, You're A Stupendous Teacher. Your Way Of Teaching Is Amazing. I've Learned A Lot Of Vocabulary, Grammar From You.

  8. i am always follow your lessons, and i would like to watch your lesson about words bizzare, blizzard, wizzard, embarrasse, embrace

  9. you talk very clearly. Is yours british English or American English?
    My appreciation for teaching how to write correcly. Few teachers move so far in advanced levels.

  10. Super cool to see people of every race and religion wanting to learn English so much. I feel language can help unite us better.

  11. Hi there! What do we say at a shop when we want to find out how big/long the guarantee is? Is that: "How long is the guarantee?", "How big is the guarantee?", or what? Thanks!

  12. thanks for the lesson, I did get confused with warranty and guarantee :D. Guarantee is just like 100% satisfaction from yout heart.

  13. I would like to have a sexy teacher like him in my career 😏he's old but he's so fucking sexy!

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