RealCarTips Logo

GM Money Back Guarantee Comes with $500 Rebate Choice

September 24, 2009

GM Money BackGM recently made public its 60-day money back guarantee program which allows consumers to return a purchased vehicle after 60 days with no questions asked.

The company was hoping that returns would be few, and thus their sales would increase.

But now a growing number of consumers are willing to forego the trial period altogether for a more attractive option: a $500 cash rebate.

Under its "May the Best Car Win" challenge, GM is offering buyers the $500 rebate if they choose not to take part in the 60-day guarantee program.

But dealers are downplaying the rebate feature in their ads, placing more emphasis instead on the trial period - so that consumers gain an impression of confidence in their vehicles.

For most consumers, the $500 rebate simply makes more sense - especially since the money back guarantee comes with a set of limitations.

For example, the car can only be returned if it has less than 4,000 miles and no more than $200 in damage. Buyers don't get a refund for everything, either. Payments for insurance, registration, or financing are irredeemable.

Since only about 2% of buyers are expected to return the vehicles, our recommendation is to take the $500 rebate in lieu of the money back guarantee.

My Recommendation for Car Shoppers

TrueCar No-Haggle, Edmunds Price Promise, and 1-800 Car Show are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.

California Residents - Important:

There is a new online car buying service called Roadster, available only to California residents, which I highly recommend you try - especially if you hate the stress of haggling with a car salesman. They provide an expert concierge who negotiates the price of the car and delivers it to your home with zero hassle - you never have to interact with a dealership. Here is my in-depth review of Roadster and why I recommend it.

- Gregg Fidan

Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
  • Best Rebates, Incentives, and Lease Deals
  • Latest Car Buying Scams and Tricks
  • The Best & Worst Time to Buy a Car
  • Which Cars You Should Avoid
Enter Your Email Below

(Absolutely NO SPAM, easy to unsubscribe)
×

Gregg Fidan

About: Gregg Fidan


Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.

Latest Weekly Car Buying Tips    RSS Feed

April 27, 2017
April 20, 2017
April 13, 2017
April 7, 2017
March 30, 2017
March 23, 2017
March 16, 2017
March 9, 2017
March 2, 2017
February 23, 2017
February 16, 2017
February 9, 2017
February 2, 2017
January 26, 2017
January 19, 2017
January 12, 2017
January 5, 2017
December 28, 2016
December 22, 2016
December 15, 2016
December 8, 2016
December 1, 2016
November 24, 2016
November 17, 2016
November 10, 2016
November 3, 2016
October 27, 2016
October 20, 2016
October 13, 2016
October 6, 2016
I welcome your car buying questions. Email Me and I'll be glad to answer them!