Fifty billion dollars of taxpayer’s bailout money and numerous lemon cars later, General Motors is attempting to regain consumer confidence and a segment of its lost shares in car sales by offering a sixty days (60) money back guarantee. The money back guarantee sounds enticing, but buyer beware,… like most offers in life, it comes with strings.
String #1: You must purchase a GM vehicle between today (September 14th) and midnight November 30th. Make sure that when you have finally agreed on a deal with the dealership, that all paperwork is dated within this time-frame. Do not allow the dealership to back date any documents you sign.
String #2: The vehicle must be a new 2009 or 2010 Buick, Cadillac, GMC, or Chevrolet. No used or pre-owned cars!
String #3: You can only return the vehicle you purchased AFTER 31 to 60 days after purchase. Here is the kicker, upon return, you MUST have driven the vehicle less than four thousand (4,000) miles. That is about 67 miles to 129 miles per day. (You hot shot drivers who intend to use this vehicle for commercial purposes — don’t bother).
String #4: The money back guarantee DOES NOT include dealer installed accessories. Keep in mind that dealers add several hundreds to thousands of dollars in accessories as a way of making additional profits. Who wants new floor mats that has the GM logo engraved on it for about seventy-five dollars anyways?
String #5: The money back guarantee DOES NOT include negative equity. In other words, if you are planning on trading in a vehicle that is worth less than what you owe to your creditor (the car financing company) — then DO NOT do it. In the event that you return this car within the requirements above, you are still responsible for the difference in negative equity (an amount that the dealer often absorbs).
I appreciate GM’s new program and it appears that the company is heading toward a positive direction. However, please note that lemon cars often times don’t manifest problems until after 3 to 6 months of ownership. Perhaps GM should focus on designing vehicles with engine and components that are more reliable,…and let its product speak for itself. Personally, I would rather buy fresh quality lemons and never have to worry about returning it than buying sub-par lemons only to have to deal with bringing it back to the store again. Hey — it is your time and patience — you decide what its worth.