Circuit City Sales?

Everywhere you look there are bargains and there are huge businesses going out of business. There is an important old adage, "buyer beware" that no longer protects those who commit a fraud on a consumer, but is sage advice still today.

The nation's second largest "box" and consumer electronics store intends to close all of its 567 remaining stores, once it gets approval from the courts.

What does that mean for the general public?
Unemployment for all of Circuit City's 30,000+ employees and huge sales, starting as early as tomorrow, Saturday, January 17, 2009.

The typical closeout sale is final, with ultimately no one to return mechandise to. That means, no refunds or exchanges, even while the stores remain open. It is also not unheard of for a retailer to "jack up" prices and then offer a huge percentage off, making the deal not quite as sweet as you may think.

Be very careful about purchasing an "extended warranty" which we call here by its legal name, a "service contract" as Circuit City will not be around to honor it and its validity is questionable at best. If it's a third party seller, do some research into that company to see if they will be around. You still should have rights against the manufacturer under the new product warranty.

I highly recommend financing any purchase, even if you intend to pay it off in a month or even a week or a few days. Most consumer finance contracts come with a federally mandated clause that makes the "holder" of the credit contract "stand in the shoes" of the seller and legally liable for any and all wrongdoings of Seller, in this case, Circuit City.