GM Shocks Industry, Offers 60-Day Money Back Guarantee
From September 14th through November 30th, GM is offering a 60-day no questions asked, money-back guarantee on new cars - the first of its kind for the American auto market. It's all part of the company's recent "May the Best Car Win" campaign to give its sagging sales a much needed boost.
Under the plan, customers may return any 2009 or 2010 Chevy, Buick, Cadillac, or GMC model between 31 and 60 days following the purchase.
Naturally, there are some restrictions:
- The purcahsed car cannot have more than 4,000 miles when returned.
- Only one buyer per household may return a vehicle.
- If the car has more than $200 worth of damage, it will be disqualified.
- Leased vehicles and those purchased by a business do not qualify for the program.
- If you traded-in a car at time of purchase, you will not get it back.
GM is taking drastic measures to regain customers, and with a 35% sales decline compared to last year, it's no wonder.
Of course, this is good news for auto shoppers. For a limited time, GM buyers won't have to worry about risking their money on a purchase that may turn out to be a mistake.
In other countries where a money-back guarantee program has been attempted, about 2% of all purchases were returned. And in case you're wondering about taxes, you will be fully refunded on all taxes upon returning the car.
My Recommendation for Car ShoppersTrueCar No-Haggle, CarsDirect, and NADAGuides 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.
- 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