Very few people have returned a new GM car since the company announced its 60-day money-back guarantee program in September, but the offer may have helped boost GM's sales. So the company is extended the campaign beyond its planned November 30 end date.
Kicking Tires reports, "GM is extending the program through the end of 2009 and slightly beyond, ending Jan. 4. Buyers can opt for the guarantee which allows them to return a new vehicle after 30 days but before 60 - with restrictions - if the buyer isn't happy with it."
Automotive News reports, "Since the program began, GM has sold about 142,000 new vehicles." Of the people who bought them, only 449 elected to participate in the return program. The rest took a $500 cash-back rebate instead. Only four people have returned a vehicle under the program, though AN reports, "49 people have filed paperwork to return their vehicles but have not yet done so."
"There are a few strings attached" to the offer, according to the Detroit News. "The buyer must keep the vehicle for at least 31 days, be current on payments and not exceed 4,000 miles within 60 days. And the dealer will not refund any negative equity the buyer had in their trade-in vehicle."
If you're in the market for a new car, check out the U.S. News rankings of this year's best cars as well as this month's best car deals.
