GM Offers Money-Back Guarantee

October 30, 2009
Michael Sheehan

GM is promoting a 60-day money-back guarantee on all its 2009 and 2010 model year Buicks, Chevys, and Cadillacs, but smart car buyers know to look for catches in the fine print and there are a few in GM’s deal.

How would you like to buy a new car, drive it around for two months, then bring it back to the dealer and get your money back, no questions asked? That’s the deal being offered by GM, which is promoting a 60-day money-back guarantee on all its 2009 and 2010 model year Buicks, Chevys, and Cadillacs. GMCs are covered under the program, too, except for medium-duty trucks.

Smart car buyers know to look for catches in the fine print and there are a few in GM’s deal. The car you return can’t have more than 4,000 miles on it or more than $200 worth of damage, and an accident would also void the deal. The program also requires that you buy the car and have it delivered before November 30, although GM has said that it may consider extending the promotion. In addition, the money you get back includes only the purchase price, after any rebates and other incentives, and any applicable sales taxes. You won’t get back the cost of any other taxes, title and registration fees, or extended warranties, or the cost of any dealer-installed accessories. The biggest problem may be your trade-in--if you traded in your old car, you won’t get that back either, so you’ll need to buy another set of wheels.

According to some auto buying experts, you should at least consider the deal, especially if a GM car is one of the brands on your shopping list. If you steer clear of expensive options and costly extended warranties, your out-of-pocket costs should be minimal and, since independent auto quality surveys have shown a dramatic improvement in GM cars over the last few years, you may just like the car and decide to keep it.