General Motors to Offer Money-Back Guarantee

September 11, 2009

Ever since Cash for Clunkers was introduced, car buyers have been in a frenzy turning in their old junkers to purchase a new, more fuel-efficient car. And car manufacturers have been in a frenzy to offer additional perks to car buyers to incent them to buy from them.

In the past year, it’s no secret that GM has had some bad press, what with the government bailout and years of consumer complaints about the poor quality of their cars. Now, they want you back.

Here it is: between Sept. 14 and Nov. 30, buyers will be able to return Buick, Cadillac, Chevrolet or GMC products within 60 days if they don’t like them. No hassle, no problem, according to GM. Here’s the catch: to take advantage of the program, customers would have to be current on auto payments and the car will have to have been driven less than 4,000 miles. GM will refund the full purchase price of the car. And, buyers will be able to return their cars after 31 days, but not after more than 60 days of ownership.

Though the returned cars could cost GM thousands of dollars each, they expect few returns. I guess GM feels confident that the quality of their products has improved greatly, which I hope is true. Only time can tell. I will point out that they do have insurance in place to protect them from such losses.

Keep an eye out for advertising campaigns from GM, touting their vehicles over Japanese cars, and more.

Want more information? Go here.

And don’t forget to check with us first for your low-rate car loan!

Questions or Comments? E-mail me at blogger@matadorsmoneymatters.com.

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