GM Money Back Guarantee Comes with $500 Rebate Choice
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.
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