General Motors wants your trust back. Battered by its foray into bankruptcy, the company knows the car buying public isn't completely confident in GM today. So the automaker is offering a new reassurance to car shoppers: the auto industry's first-ever 60-day money-back guarantee.
The New York Times reports, "In an all-out effort to restore confidence in its products, General Motors will offer a 60-day, money-back guarantee on all its vehicles."
The Times is not strictly correct when it says the program applies to all GM vehicles. Autoblog notes, "The new initiative will cover new Chevrolet, Cadillac, Buick and GMC models." Cars built by Pontiac, Hummer, Saab and Saturn - all brands GM seeks to sell or shut down this year - are not covered.
The Times reports, "The ‘Satisfaction Guaranteed' program is thought to be the first time that a major automaker has offered a full refund on a vehicle after it has been sold."
The initiative amounts to an extended test-drive offer. GM Vice President Bob Lutz told USA Today that the company is aware that some customers may choose to return their GM car and buy a competitor instead after the extended evaluation. "If you do the comparison and a Toyota Camry meets your needs better than a Chevrolet Malibu, hey, help yourself," Lutz said. Still, the automaker doesn't expect many takers -- when GM's British division, Vauxhall, made a similar offer several years ago, "only 2% to 3% of buyers brought vehicles back for refunds," a figure that is "about what he expects for the U.S. program."
Kicking Tires adds, "The program will run through November and does have a number of conditions, as you'd expect." It only applies to 2009 and 2010 model year vehicles. There are still some 2008 models lingering on dealer lots, but they won't be covered. The vehicle also "must be returned between 31 and 60 days from purchase," with less than 4,000 miles on its odometer. The buyer must be current on payments, and "If the purchase loan included an additional amount to pay off the loan on a trade-in above what the trade-in was worth, that portion won't be refunded."
Further details are available on a website dedicated to the program.
If the program interests you, check out eligible Chevrolet, Cadillac, Buick and GMC cars. Also be sure to take a look at the latest Car Deals as well as the latest Chevy Deals to see the discounts and incentives you can combine with GM's 60-day money-back guarantee.