General Motors has given refunds to 15 individuals under its much ballyhooed 60-Day Money-Back Guarantee program, according to a report from the Associated Press.
An overwhelming number of buyers chose to opt out of the Money-Back Guarantee offer at the time of their purchase, opting instead for a $500 rebate. In fact, the AP quotes GM spokesman Tom Henderson saying that only about 400 buyers opted for the Money-Back Guarantee coverage, representing "less than one percent" of the GM cars sold since the program began on September 14.
Of course, by the stipulations of the program an owner could only return his car between the 31st and 60th days of the Money-Back period, meaning Thursday October 15th was the first day owners could potentially return a car. The program runs through the end of November.
brn says:
01:25 PM, 10/21/09
I guess it just goes to show that 99% of the buyers had every intention of keeping the vehicle and would much rather have $500.
inlinesix says:
01:45 PM, 10/21/09
15 returned cars (SO FAR)...not a great message to people who may still be looking at GM cars.
I wonder how many people who opted out of the program wished they spent the $500 bucks and could return the car?
firstwagon says:
02:57 PM, 10/21/09
Even if a lot of people returned cars, it would say less about GM then it would about the number of people who don't sufficently research a major purchase like a new car.
I worked in retail long enough to know the majority of returns are people who bought the wrong thing for their needs.
alman08 says:
07:03 PM, 10/21/09
I'm just waiting to hear the next "funny" response from Lutz.
jake_d says:
11:53 AM, 10/28/09
I am planning to return my Corvette, and I hope that ALL of the other GM customers who didn't take the $500 rebate re-consider before their 60 days are up. Lots can go wrong with GM cars after the 60-day trial period, so better safe than sorry. It was actually cheaper to buy and return than to just "rent" this car. I have enjoyed driving it though.
It is interesting that over 100,000 took the rebate. Isn't that 50 MILLION DOLLARS? Would GM have sold 100,000 cars during that same time frame without the rebate?
jake_d says:
11:53 AM, 10/28/09
TEST