East Coast Radio - Catch Up Consumer Hacks with Wendy Knowler

Ask what they'll buy it back for

Loading player...
A woman came to me wanting to sell gold coins she'd bought years earlier as an investment. Here's the thing about anything sold to you as an investment that you can hold in your hand: coins, collectibles, memorabilia. There are two prices: what a dealer will sell it to you for, and what a dealer will pay you for it. The gap between them can be enormous, and nobody volunteers it at the point of sale. Before you buy, ask the salesperson one question: what would you pay me for this if I walked in with it tomorrow?
If they won't give you a number, that's your answer.
26 Aug English South Africa Education · Self-Improvement

Other recent episodes

Check the stars before you sign

Before you buy a car, look up how it performed in a crash test. Global NCAP has been crash testing cars sold in South Africa for years and the results are free on its website. The gap between models is enormous. Two cars that look alike and cost almost the…
28 Aug 1 min

"No refunds" is not the last word

Have you ever booked a photographer, a venue, or an event planner, and then had to cancel? You may well have been told the deposit was non-refundable - end of discussion. The Consumer Protection Act says otherwise. You may cancel an advance booking, and the supplier may keep a reasonable…
27 Aug 1 min

A discount you can't use isn't compensation

When something goes wrong, companies love to offer a voucher or a percentage-off-your-next-purchase as compensation, rather than money. One family was given 25% off future flights by SAA. Generous, until they tried to book and found there was simply no way to apply the discount at the payment stage because…
25 Aug 1 min

Cancelled isn't cancelled until they say so in writing

A woman's husband had a stroke seven years ago and hasn't been able to use his phone since. She says the account was closed. The billing carried on anyway. This is the among the most common complaint I get. You phone, someone says they'll cancel it, and nobody does. Months…
24 Aug 1 min

Are you overpaying for your pet’s meds?

Vet bills are brutal, and medication is a big slice of them. But you may never be told that a cheaper equivalent of what you're being dispensed exists, because nobody at the counter is obliged to raise it with you. So ask. Ask whether there's a generic or a cheaper…
21 Aug 1 min
All episodes