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GM Guarantee Begins

Carbuyers Can Return Vehicle Within 60 Days For A Full Refund

POSTED: Monday, September 14, 2009
UPDATED: 5:44 pm EDT September 14, 2009

Customers at GM dealers around the country can buy a new car starting Monday with a 60-day money-back guarantee.

The refund guarantee is the latest move by the automaker to try to boost consumer confidence after it went through bankruptcy earlier this year.

Carbuyers can return their vehicle within 60 days for a full refund, with no questions asked.

The deal covers the core GM brands such as Chevrolet, Buick, Cadillac and GMC.

Pontiac and Saturn are not included.

On a cable TV interview Monday morning, GM Vice Chairman Bob Lutz said the company's vehicles are good enough to stand up to the guarantee.

"We could not have done this five years ago because I think people would have gone in and said, 'You know what? You were right; after three weeks, I don't like the car.' I think now we can be absolutely sure that people are going to want to love the vehicles."

GM sales are down nearly 35 percent this year.

Commercials explaining the refund started airing Sunday. The commercials feature the company's new chairman, Ed Whitacre.

Local 4 business editor Rod Meloni looked into the details of the deal consumers should know about.

The offer takes effect 30 days after a purchase and ends 60 days after the sale.

Buyers cannot put more than 4,000 miles on the vehicle and there cannot be any visible damage.

If you purchase extras, like an extended warranty, you will not get that cash back.

If you buy your new vehicle with with a trade-in, GM is not responsible for your old car.

If buyers don't want the money back deal, they can get a $500 rebate instead.

A prominent automotive information website Monday reported a 10% increase in inquiries about GM products.

Veteran automotive journalist and analyst Michelle Krebs told Local 4 the consumer interest in GM is a positive sign.

"And what we'll be watching is twill they sustain that 10 percent, will it increase or drop off, if that sustain that 10 percent increase that could be very positive, they could get 2 percent of market share and that's really significant," Krebs said.

The GM program also works with employee pricing discounts.

Buyers should, however, note that if they folded debt from a previous vehicle into the sales deal, they will still owe that debt if they bring their car back.

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