GM Money Back Guarantee Comes with $500 Rebate Choice

GM 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.

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